Canara Robeco AMC IPO subscribed 9.74 times on final day, sees strong QIB demand

Core Insights - The IPO of Canara Robeco Asset Management Company was highly successful, achieving an overall subscription of 9.74 times on the closing day of bidding [1] - The IPO was an offer for sale (OFS) of approximately 4.98 crore shares, with no fresh issue component, priced between ₹253 and ₹266 per share [2] - The company raised ₹398 crore from anchor investors prior to the IPO, with shares expected to list on BSE and NSE on October 16 [3] Subscription Details - The IPO received bids for 33.99 crore shares against 3.48 crore shares on offer, indicating strong demand [1] - Qualified institutional buyers (QIBs) led the subscription with a rate of 25.92 times, followed by non-institutional investors (NIIs) at 6.45 times, and retail investors at 1.91 times [1] Offer Structure - The promoters, Canara Bank and ORIX Corporation Europe N V, are offloading 2.59 crore shares and 2.39 crore shares, respectively, under the OFS [2] - The allotment date for the IPO is set for October 14 [3]