Indian asset manager Canara Robeco successfully completed its nearly $150 million initial public offering (IPO) on Monday, the final day of its three-day bidding period, with strong backing from retail individual investors.
Canara Robeco, a joint venture of Canara Bank and the European division of Japan’s ORIX, is the smallest asset management company in terms of revenue compared to its competitors, which include HDFC AMC, Nippon Life India AMC, and UTI AMC.
The over-30-year-old asset management company has built its portfolio with a significant focus on equities and primarily serves a retail investor clientele.
Looking ahead, India’s IPO market is poised for record-breaking fundraising in 2025. In the first nine months of the year, companies have raised $10.5 billion, positioning the market to exceed last year’s total of $20.5 billion.
Published on October 13, 2025.
