About Canara Robeco Asset Management Company Limited - Mainboard IPO
Canara Robeco Asset Management Company Limited (CRAMC) is India’s second-oldest asset management company, incorporated in 1993. It’s a joint venture between Canara Bank (51%) and ORIX Corporation Europe N.V. (49%), formerly known as Robeco Group N.V. The company serves as the investment manager for Canara Robeco Mutual Fund, managing a diverse portfolio of equity, debt, and hybrid schemes for both retail and institutional investors.
As of June 2025, the company manages 26 mutual fund schemes with a Quarterly Average Assets Under Management (QAAUM) of ₹1,11,052 crore. The company has a pan-India presence across 23+ cities in 14 states and 2 union territories through 25 branches, supported by over 52,000 distribution partners.
READ FULL DRHP HERE: |SEBI DRHP CANARA ROBECO AMC|
IPO Details
Key Information
Details Information
IPO Price Band ₹253 - ₹266 per share
Minimum Lot Size -56 shares (about ₹14,896 at highest price)
Issue Size -₹1,326.13 crore (100% Offer for Sale - OFS)
Face Value -₹10 per share
Stock Exchanges -BSE and NSE (Mainboard IPO)
Registrar -MUFG Intime India Private Limited CLICK HERE
Book-running Managers- ICICI Securities, Kotak Mahindra Capital, JM Financial
IPO Timeline (Important Dates)
| Event | Date |
|---|---|
| Anchor Investor Bidding | October 8, 2025 |
| IPO Opens | October 9, 2025 |
| IPO Closes | October 13, 2025 |
| Allotment Date | October 14, 2025 |
| Refunds/Unsuccessful Bids | October 15, 2025 |
| Shares in Demat Account | October 15, 2025 |
| Listing Date | October 16, 2025 |
What Is the Money Used For?
All ₹1,326.13 crore proceeds go to existing shareholders - Canara Bank selling 2.59 crore shares and ORIX Corporation selling 2.39 crore shares (25% of their total stake). Post-IPO, Canara Bank will hold 38.25% and ORIX will hold 36.75%.
The primary objective is to achieve listing benefits including enhanced visibility, brand recognition, and providing liquidity to existing shareholders.
Key Financials
Financial Performance Summary
| Financial Metric | FY23 (₹ Cr) | FY24 (₹ Cr) | FY25 (₹ Cr) |
|---|---|---|---|
| Total Income | 204.80 | 318.78 | 404.00 |
| Revenue from Operations | 204.60 | 318.78 | 403.70 |
| Profit After Tax (PAT) | 79.00 | 151.00 | 190.70 |
| EBITDA | 112.89 | 201.14 | 264.08 |
| Net Worth | 328.55 | 454.49 | 600.06 |
| Total Assets | 377.97 | 516.81 | 674.03 |
| Reserve & Surplus | 278.70 | 404.64 | 400.64 |
| Total Borrowing | NIL | NIL | NIL |
Key Ratios and Growth Metrics
| Metric | FY24 | FY25 | Growth % |
|---|---|---|---|
| Revenue Growth | 55.7% | 26.7% | Strong Growth |
| PAT Growth | 91.1% | 26.3% | Consistent Growth |
| EBITDA Growth | 78.1% | 31.3% | Robust Growth |
| Net Worth Growth | 38.3% | 32.0% | Strong Capital Base |
| Asset Growth | 36.8% | 30.4% | Healthy Expansion |
Business Metrics
| Metric | FY23 | FY24 | FY25 |
|---|---|---|---|
| QAAUM (₹ Cr) | 68,742 | 82,786 | 1,11,052 |
| Folio Count (Cr) | 0.431 | 0.462 | 0.502 |
| SIP Accounts (Cr) | 0.232 | 0.235 | 0.237 |
| Schemes Managed | 25 | 26 | 26 |
Financial Analysis
-
Total income increased from ₹205 crore (FY23) to ₹404 crore (FY25) - 97% growth over two years
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Revenue CAGR of 40.4% between FY23-FY25 showing strong momentum
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Revenue primarily from management fees, making it asset-light with recurring income
-
PAT grew from ₹79 crore to ₹191 crore (141% increase over two years)
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PAT margin expanded from 38.6% (FY23) to 47.2% (FY25)
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EBITDA margin consistently above 60%, indicating operational efficiency
Points of Caution:
- 100% OFS: Company gets no funds for expansion, purely exit for promoters
- Market dependency: Performance linked to equity market cycles and volatility
- Competition: Intense competition from larger AMCs and fee compression pressure
- Underperformance risk: Some schemes may underperform benchmarks affecting AUM
- Regulatory risks: Changes in mutual fund regulations can impact operations
- Distribution dependence: Heavy reliance on Canara Bank network for distribution
- Scale challenges: Smaller size compared to top AMCs like HDFC, ICICI Prudential
Why Some Investors Like This Mainboard IPO
- Pure-play AMC exposure: Direct play on India’s growing mutual fund industry
- Consistent financials: Strong track record of revenue and profit growth
- Debt-free company: Zero borrowings with strong balance sheet
- Experienced management: Professional team with decades of fund management experience
- Distribution strength: Extensive network through Canara Bank and partners
- Reasonable valuation: Attractive pricing compared to listed AMC peers
IPO FAQS
What is an IPO?
- An IPO (Initial Public Offering) is when a private company sells its shares to the public for the first time to raise money.
- Example: If a well-known pizza company wants to grow, it can list its shares on the stock exchange so anyone can buy a piece of the company.
How can you apply for an IPO (using Zerodha or Upstox)?
- Make sure you have a Demat account and your bank account is linked.
- Steps:
- Log in to your broker’s app (e.g., Zerodha Kite, Upstox).
- Go to the IPO section.
- Select the company’s IPO you want to apply for.
- Enter how many shares (or ‘lots’) you want and the price you wish to bid.
- Enter your UPI ID, submit your application, and approve the UPI payment request.
How are IPO shares allotted?
- If more people want shares than are available, the company uses a lottery system to decide who gets them.
- If you don’t get shares, your money is simply returned.
What is GMP (Grey Market Premium)?
- GMP shows the extra price people are willing to pay for IPO shares before they officially start trading.
- Example: If IPO price is ₹100 and GMP is ₹20, people are unofficially ready to pay ₹120. It hints at the IPO’s popularity but isn’t a guarantee.
Where to check upcoming IPOs (IPO calendar)?
- Visit popular finance sites like Chittorgarh, IPOWatch, or official exchange websites (NSE, BSE) and look for the “Upcoming IPO” section.
What are IPO listing gains?
- If the share’s price rises on the first trading day, you can make instant profit.
- Example: You buy at ₹150, and it opens at ₹200, you gain ₹50 per share.
How can you make profit from an IPO?
- Quick gains on listing day (if the stock price goes up).
- Long-term: If the company grows, the share price could increase further.
Which IPO is best to buy?
- There is no single best IPO. Check the company’s background, current demand, and GMP, but always research before investing.
- High GMP or popularity doesn’t guarantee profits.
Are IPOs safe?
- IPOs can be profitable but also risky; prices can go up or down sharply.
- Only invest if you are ready for potential losses.
How to check IPO allotment status?
- After the IPO process, check on exchanges (BSE/NSE websites) or the IPO registrar’s site (like K-Fintech, Bigshare,or mufg-intime) by entering your PAN or application number to see if you got shares.
Important Tips for Retail Investors Applying for an IPO
- Use Only Your Own PAN Card:
Avoid using the same PAN card for multiple IPO applications. For example, if you have already applied using your PAN for one IPO, don’t try to apply again with the same PAN under different accounts or through others. - Apply in the Right Category:
Ensure you select the correct investor category (such as Retail Individual Investor) when filling out your application. Applying under a wrong category can lead to rejection or disqualification. - Maintain Sufficient Bank Balance:
Before applying, ensure your bank account linked to the application has enough funds to cover the full bid amount. For instance, if the IPO application requires a payment of ₹15000, make sure your account holds at least that amount. - Use Your Own Bank Account:
Always apply through your own bank account. Using someone else’s account can cause your application to be rejected during the verification process. - Avoid Last-Minute Applications:
Don’t wait until the deadline day or moments before to apply. Last-minute submissions may face technical glitches or processing delays, reducing the chances of success.