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Canara Robeco AMC IPO
Canara Robeco Asset Management Company Ltd
₹14,168 /56 sharesMinimum Investment
Canara Robeco AMC IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 9 Oct ‘25 - 13 Oct ‘25 | ₹14,168 | 56 | ₹253 - ₹266 |
| Issue Size | IPO Doc |
|---|---|
| 1326.13Cr | RHP PDF |
Subscription rate
As of 10 Oct'25, 06:01 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 0.53x |
| Retail Individual Investor | 0.74x |
| Total | 0.48x |
About Canara Robeco AMC
Founded in
1993
Managing director
Mr Rajnish Narula
Parent organisation
Canara Robeco Asset Management Company Ltd
Canara Robeco Asset Management Company Ltd IPO
https://www.youtube.com/watch?v=HGFzBgf-Rd8
Strengths & Financials of Canara Robeco AMC
Strengths
Risks
Canara Robeco AMC claims to benefit from the legacy and recognition of its strong parentage. With Canara Bank owning 51 percent and OCE holding 49 percent, the company claims to leverage Canara Bank’s extensive network of over 9,861 branches and its global expertise. As of June 30, 2025, Canara Robeco claims to have Rs 9,322 crore in monthly average assets under management (MAAUM) generated through Canara Bank branches, representing 8.00 percent of its total MAAUM.
Several of Canara Robeco AMC’s equity-oriented schemes have demonstrated consistent long-term performance, with seven of them being managed for over 10 years. As of June 30, 2025, the company claims to hold the third-highest share of equity-oriented hybrid assets under management (AUM) among the top 20 AMCs in India and the highest share of equity-oriented AUM compared to the top 10 AMCs.
Canara Robeco AMC claims to have a robust multi-channel sales and distribution network, which includes third-party distributors, sales through branches, and digital platforms. As of June 30, 2025, the company claims to have 52,343 distribution partners across India, including Canara Bank, 44 other banks, 548 national distributors (ND), and 51,750 mutual fund distributors (MFDs).
Canara Robeco AMC claims to have seen significant growth in the proportion of its MAAUM contributed by individual retail and high-net-worth individual (HNI) investors. It increased from Rs 54,551 crore in FY23 to Rs 78,420 crore in FY24 and Rs 88,757 crore in FY25, reflecting a compound annual growth rate (CAGR) of 27.56 percent.
The company claims to have witnessed an increase in its Systematic Investment Plan (SIP) count, folio count, and monthly SIP contributions. The total SIP count reached 0.24 crore in FY25, from 0.23 crore in FY23. SIP monthly contributions stood at Rs 747 crore as of June 30, 2025.
Canara Robeco AMC claims to have invested heavily in a digital ecosystem aimed at improving customer convenience, engagement, and service accessibility. It claims that its mobile application, Canara Robeco Mutual Fund App, has experienced over 700,000 downloads as of June 30, 2025. Additionally, Canara Robeco offers online investments through "Smartinvest" on its website.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 204.59 crore in FY23 to Rs 318.09 crore in FY24 and Rs 403.69 crore in FY25. PAT increased from Rs 79.00 crore in FY23 to Rs 150.99 crore in FY24 and Rs 190.70 crore in FY25.
As of June 30, 2025, one equity scheme and nine debt schemes of Canara Robeco AMC have underperformed against their benchmark indices. These include Canara Robeco Small Cap Fund, Canara Robeco Overnight Fund, Canara Robeco Savings Fund, and Canara Robeco Income Fund, among others. The total AUM for these underperforming schemes as of June 30, 2025, stood at Rs 13,103 crore, Rs 202 crore, Rs 1,342 crore, and Rs 126 crore, respectively. Continued underperformance across these schemes could result in a decrease in AUM, negatively impacting revenue due to lower management fees.
As of June 30, 2025, 91.17 percent of Canara Robeco AMC's QAAUM was in equity-oriented schemes, totalling Rs 101,251 crore. This heavy concentration in equity markets makes the company highly vulnerable to market volatility.
As of June 30, 2025, Rs 85,534 crore (73.45 percent) of Canara Robeco AMC's MAAUM was generated through third-party distributors. This reliance on external partners poses a significant risk to the company’s operations. If the company is unable to maintain existing relationships or attract new distributors, its access to a large customer base could diminish, impacting revenue generation. Moreover, as many distributors are non-exclusive, they may prioritise competitors' offerings, particularly if incentivised to do so, which could further reduce Canara Robeco’s competitiveness and revenue potential.
Canara Robeco AMC’s business is subject to stringent regulatory oversight by SEBI, which includes periodic inspections and compliance with the SEBI Mutual Fund Regulations. Any failure to adhere to these regulations could lead to penalties or sanctions, adversely affecting the company’s operations and reputation. SEBI has previously flagged issues in Canara Robeco AMC’s systems, such as errors in transaction processing and misconduct by distributors. Although corrective actions have been implemented, there remains a risk of future regulatory observations or penalties.
A significant portion of the company’s MAAUM is derived from customers in Maharashtra. They accounted for Rs 36,761 crore (31.57 percent) of the company’s total MAAUM in the period ended June 30, 2025; Rs 32,329 crore (31.73 percent) in FY25; Rs 27,518 crore (31.24 percent) in FY24; and Rs 20,196 crore (32.52 percent) in FY23. Any adverse political, social, or economic developments in this region could materially harm the company’s financial performance.
The company experienced a delay in filing Form FC-GPR with the Reserve Bank of India (RBI) for the issue of 73,285,905 equity shares pursuant to a bonus issue on September 19, 2024. While the form was subsequently filed on April 21, 2025, and RBI approval was received on May 16, 2025, the delay required payment of a late submission fee, which was acknowledged by the RBI on August 5, 2025. Such non-compliance may expose the company to penalties, additional scrutiny from regulatory authorities and could adversely affect its reputation and financial condition.
The company’s revenue and profitability are influenced by the total expense ratio (TER) limits prescribed under SEBI regulations, which define the maximum operating expenses that can be charged to a mutual fund scheme. Any reduction in these TER limits, such as the past adjustment for open-ended equity-oriented schemes from 2.5 percent–1.75 percent to 2.25 percent–1.05 percent, may limit the management fees the company can charge. A further reduction in TER limits could adversely affect the company’s revenues, profitability, marketing initiatives, AUM, and overall demand for its services.
Employee benefit expenses form a significant portion of the company’s total expenses. It accounted for Rs 24.86 crore (59.96 percent) of the company’s total expenses in the period ended June 30, 2025; Rs 88.52 crore (60.48 percent) in FY25; Rs 75.82 crore (61.34 percent) in FY24; and Rs 59.65 crore (61.00 percent) in FY23. Increases in these expenses may arise from higher compensation to attract and retain skilled personnel, statutory obligations, and industry wage inflation. If these costs rise faster than revenue growth or operational efficiencies, the company’s profitability and cash flow could be negatively affected. Failure to manage these expenses could materially impact the company’s financial condition and results of operations.
The company, one of its promoters, and some directors are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
Canara Robeco AMC Financials
*All values are in Rs. Cr
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Application Details of Canara Robeco AMC IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹253 - 266 | Upto ₹2 Lakh |
| High Networth Individual | ₹253 - 266 | ₹2 - 5 Lakh |
For Canara Robeco AMC IPO, eligible investors can apply as Regular.