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Canara Robeco AMC IPO
Canara Robeco Asset Management Company Limited
Canara Robeco AMC IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| To be announced | -- | -- | -- |
| Issue Size | IPO Doc |
|---|---|
| 0 | DRHP PDF |
About Canara Robeco AMC
Founded in
1993
Managing director
Mr Rajnish Narula
Parent organisation
Canara Robeco Asset Management Company Limited
Strengths & Financials of Canara Robeco AMC
Strengths
Risks
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 December 31, 2024, the company claims to hold the third-highest share of equity assets under management (AUM) among the top 10 AMCs in India, with Rs 100,959 crore in equity-oriented assets, representing 93.16 percent of its total qualifying assets under management (QAAUM). Canara Robeco claims that all seven of these long-standing equity-oriented schemes have outperformed their respective benchmark indices in a 10-year return horizon.
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 9,800 branches and its global expertise. As of December 31, 2024, Canara Robeco claims to have Rs 8,774 crore in AUM generated through Canara Bank branches, representing 8.17 percent of its total AUM.
Canara Robeco AMC claims to have seen significant growth in the proportion of its market assets under active management (MAAUM) contributed by individual retail and high-net-worth individual (HNI) investors. It increased from Rs 41,901 crore in FY22 to Rs 78,420 crore in FY24, reflecting a compound annual growth rate (CAGR) of 36.80 percent. As of December 31, 2024, the total folios invested in Canara Robeco’s schemes were 0.50 crore, with 0.49 crore being individual customer folios, representing 98.99 percent of the total folio base.
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 0.23 crore as of December 31, 2024, from 0.14 crore in FY22. SIP monthly contributions stood at Rs 777 crore as of December 31, 2024.
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 December 31, 2024, the company claims to have 49,412 distribution partners across India, including Canara Bank, 44 other banks, 259 national distributors (ND), and 49,108 mutual fund distributors (MFDs).
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 500,000 downloads as of December 31, 2024. Additionally, Canara Robeco claims to offer 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 164.22 crore in FY22 to Rs 204.59 crore in FY23 to Rs 318.09 crore in FY24, while PAT increased from Rs 60.16 crore in FY22 to Rs 79.00 crore in FY23 to Rs 150.99 crore in FY24.
As of December 31, 2024, Canara Robeco AMC's one equity scheme and eight debt schemes have underperformed against their benchmark indices. They 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 December 31, 2024, stood at Rs 12,544 crore, Rs 219 crore, Rs 830 crore, and Rs 121 crore, respectively. Continued underperformance across these schemes could result in a decrease in AUM, negatively impacting revenue due to lower management fees.
As of December 31, 2024, 93.16 percent of Canara Robeco AMC's QAAUM was in equity-oriented schemes, totalling Rs 100,959 crore. This heavy concentration in equity markets makes the company highly vulnerable to market volatility.
As of December 31, 2024, 75.40 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 AUM is derived from customers in Maharashtra. They accounted for Rs 33,361 crore (31.08 percent) as of December 31, 2024, Rs 27,620 crore (31.12 percent) in FY24, Rs 20,395 crore (32.61 percent) in FY23, and Rs 16,654 crore (33.40 percent) in FY22. Any adverse political, social, or economic developments in this region could materially harm the company’s financial performance.
Canara Robeco AMC experienced a delay in submitting Form FC-GPR to the Reserve Bank of India (RBI) for a bonus issue on September 19, 2024. Although the form was eventually filed on April 21, 2025, the delay may result in late submission fees or penalties. These regulatory setbacks could negatively impact the company’s reputation and financial health.
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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