May 07, 2025 01:26 pm (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Seven Pakistani soldiers killed, five injured in bomb attack on military convoy in southwestern Balochistan | Modi, Albanese eye to advance India-Australia Comprehensive Strategic Partnership during telephone conversation | Hold dialogue with all political parties on caste census: Mallikarjun Kharge writes to PM Modi | PM Modi meets NSA Ajit Doval amid India's wait for retaliation against Pahalgam terror attack | Pakistan grilled at UNSC amid rising tension with India after Pahalgam terror attack | 'We'll do everything we can': US House Speaker backs India in fight against terrorism after Pahalgam attack | Centre asks several states to conduct security mock drills amid tensions with Pakistan, first since 1971 | PM Modi holds meeting with Defence Secy as India plans retaliation against Pahalgam attack | Terror hideout busted in Kashmir's Poonch amid India-Pak border tensions after Pahalgam attack | India snaps water flow to Pakistan from Baglihar dam on Chenab river in Pahalgam fallout
Image courtesy: Pixabay

Canara Robeco Asset Management Company files for IPO: Report

| @indiablooms | Apr 25, 2025, at 08:49 pm

Mumbai: Canara Robeco Asset Management Company has filed draft papers for an initial public offering (IPO), with both of its shareholders—Canara Bank and ORIX Corporation Europe—set to divest part of their stakes amid a slowdown in India’s IPO market, Reuters reported.

The asset manager, a joint venture between India's state-run Canara Bank and Netherlands-headquartered ORIX Corporation Europe (a subsidiary of Japan’s ORIX Corporation), will not issue new shares in the IPO.

Instead, a total of 49.8 million shares will be offloaded by the existing stakeholders.

Canara Bank plans to reduce its holding by 13%, selling 25.92 million shares, while ORIX will divest 23.93 million shares.

The listing comes at a time of increasing global market volatility, with uncertainties such as U.S. tariff changes prompting companies to reassess listing plans amid fears of weak investor response.

Despite India ranking as the second-largest IPO market globally in terms of proceeds in 2024, IPO volumes have dropped nearly 15% so far this year, according to LSEG data.

Canara Robeco, which manages assets exceeding ₹1 trillion ($11.7 billion), competes with large players such as HDFC Asset Management, Nippon Life India Asset Management, and UTI Asset Management.

According to its draft prospectus, the company’s profit surged 91% in the fiscal year ended March 2024 compared to the previous year, while its revenue from operations rose 55.4%.

The filing also highlighted a growing shift in Indian households toward financial assets.

While physical assets still dominate, mutual fund investments have gained traction, driven by rising financial awareness.

Between FY21 and FY24, mutual funds as a share of household financial savings climbed from 2% to around 7%, with total investment value more than doubling to ₹2.4 trillion, according to data from the Reserve Bank of India and Crisil Intelligence cited in the prospectus.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm
Close menu