Overview
- Canara Robeco AMC’s IPO was 48% subscribed by day two, with retail at 74%, non-institutional at 53% and minimal QIB bids; the window runs Oct. 9–13.
- Canara HSBC Life’s IPO was 9% subscribed on day one, including 14% in retail, 5% in non-institutional and 3% in QIB categories; the window runs Oct. 10–14.
- Anchor allocations were completed before the opens, raising about Rs 398 crore for Robeco (1.49 crore shares at Rs 266 to 25 investors) and Rs 750.32 crore for HSBC Life (7.08 crore shares at Rs 106 to 33 investors).
- Both offerings are 100% offer-for-sale issues with proceeds to selling shareholders; Canara Bank is selling 2.59 crore Robeco shares and 13.77 crore HSBC Life shares, with the Robeco sale implying a reported 13,134% return at the top band.
- Key milestones ahead include Robeco’s allotment on Oct. 14 and listing on Oct. 16, followed by HSBC Life’s allotment on Oct. 15 and listing on Oct. 17, subject to final book outcomes.