India's second-oldest asset manager, Canara Robeco Asset Management Company, has set the price band at ₹253 - ₹266 per share for its ₹1,326 crore initial public offering (IPO). The issue is set to open on October 9 and close on October 13, with the share allotment taking place on October 14, followed by listing on October 16.

Retail investors can bid for a minimum of one lot, which comprises 56 shares, for an investment of ₹14,896 at the upper end of the band. 50% of the total offer is reserved for Qualified Institutional Buyers (QIBs), 15% for non-institutional investors, and 35% for retail participants. At the upper price, the company's market capitalization is estimated at ₹5,304 crore.

The issue is a complete offer for sale (OFS) of 4.98 crore shares, with Canara Bank selling 2.59 crore shares and Orix Corporation Europe NV offloading 2.39 crore shares. As a result, the company will not receive any proceeds from the offering.

SBI Capital Markets, Axis Capital, and JM Financial are the book-running lead managers for the issue.

Last week, the market regulator, Securities and Exchange Board of India (SEBI) had approved the revised draft prospectus of the upcoming IPO. 

Canara Bank shares have rallied 18% in the last one month. 

Incorporated in 1993, Canara Robeco AMC is a joint venture between Canara Bank (51%) and Orix Corporation Europe NV (49%). As of June 2025, the firm managed assets worth ₹1.17 lakh crore, and posted a revenue of ₹121.3 crore and a net profit of ₹61 crore for the June-quarter.

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