Canara Robco Mutual Fund’s investment manager Canara Robico Asset Management Company has submitted initial documents with the market regulator SEBI for the initial public offering (IPO). This IPO will be completely offer for sale where government -owned Canara Bank and foreign partner Orix Corp (first Robco Group) will sell their shares.
Canara Bank is considering selling 13 per cent stake (2.59 crore shares) while Orrix will sell 12 per cent stake (2.39 million shares). Currently, Canara Bank holds 51 per cent stake while Orix has 49 per cent.
Canara Robicco is the 17th largest fund house in India. Its average asset (AUM) was Rs 1 lakh crore in the fourth quarter of FY 2024-25. Fund House manages this AUM through 25 schemes including 13 active equity funds. According to the draft of the brochure, the equity schemes of mutual funds in the AUM were 92 per cent in March 2024.
Currently listed AMCs include HDFC AMC, Nippon Life India, Aditya Birla Sun Life (ABSL) and UTI AMC. The previous list of ABSL was in 2021. The same year SBI MF planned an IPO. Later postponed the plan. In March 2025, 49 mutual funds were registered in India.
Canara Robaco is the second oldest mutual fund in India, which was established in 1993 as the Kenbank Mutual Fund. In 2007, Canara Bank partnered with Robco (now part of Orix Corporation) and the name of the mutual fund was changed to Canara Robaco MF.
First Published – April 25, 2025 | 10:48 pm IST
Related post