Canara Robeco AMC IPO: GMP at 12% ahead of October 9 launch. Check key dates, other details

Core Insights - The upcoming IPO of Canara Robeco Asset Management Company Limited (CRAMC) is set to open for public subscription from October 9 to October 13, with shares expected to be allotted on October 14 and listed on October 16 [1][5][9] IPO Details - The IPO has a price band of Rs 253 to Rs 266 per equity share, with a face value of Rs 10, and a minimum bid lot size of 56 equity shares [6][9] - The total offer size for the IPO is Rs 1,326 crore, which is entirely an offer-for-sale (OFS) by promoter shareholders, including Canara Bank and ORIX Corporation Europe N.V. [6][9] - At the upper end of the price band, the price-to-earnings (P/E) ratio based on FY25 diluted EPS is 27.82 times, while at the lower end it is 26.46 times [6][9] - The weighted average return on net worth over the past three financial years is reported at 30.97% [6][9] Financial Performance - As of June 30, 2025, Canara Robeco AMC reported closing Assets Under Management (AUM) of Rs 1,175.13 billion, with an average AUM of Rs 1,110.52 billion for the same period [7][9] - The company earned Rs 927.13 million in management fees, with total revenue from operations standing at Rs 1,210.69 million [7][9] Investor Sentiment - The grey market premium (GMP) for the IPO is currently between Rs 33 and Rs 35, indicating a premium of approximately 12.41% over the upper price band, reflecting positive investor sentiment and interest [2][9] - A higher GMP may suggest expectations of strong listing-day performance, although it is based on market rumors and does not guarantee actual gains [4][9] Allocation Structure - The IPO allocation will reserve not more than 50% of the net offer for Qualified Institutional Buyers (QIBs), at least 15% for Non-Institutional Investors (NIIs), and a minimum of 35% for Retail Individual Investors (RIIs) [8][9]