Canara Bank Share Price Rises as SEBI Clears Canara Robeco AMC’s Updated DRHP | Stock Market Today

Market Performance

The trading session today saw steady moves in the broader market, and within that, Canara Bank share price stood out. The stock attracted strong buying interest and extended gains, reflecting investor focus on fresh developments linked to its asset management arm.

Canara Bank Share Price Movement

The PSU bank’s stock advanced more than 3% during the day, marking its second straight session of gains.

• Intraday High: ₹124.45 per share
• Rise Recorded: +3.27%

The upmove came as developments around the bank’s subsidiary drew investor attention, keeping the stock active even while the broader market showed mixed trends.

SEBI Nod for Canara Robeco AMC

The rally was sparked by a regulatory development as Canara Robeco Asset Management Company Ltd., a Canara Bank subsidiary, secured SEBI’s approval for its Updated Draft Red Herring Prospectus (UDRHP).

This approval marked a significant step forward for the asset management company as it prepares for its planned initial public offering (IPO). With the updated DRHP cleared, the AMC is now set to move into the next phase of its capital-raising journey.

Details of the IPO

According to the updated prospectus, the Canara Robeco AMC IPO will be a pure Offer for Sale (OFS). That means no new shares will be issued, and the proceeds will go entirely to the existing shareholders.

Here’s the break-up of the proposed share sale:

• Total OFS Size: 4.98 crore equity shares
• Shares by Canara Bank: 2.59 crore
• Shares by ORIX Corporation Europe NV: 2.39 crore

Currently, Canara Bank holds 51% stake in the AMC, while ORIX Corporation Europe NV holds 49%. Through the OFS, both partners will offload part of their holdings in the asset management company.

Since the issue is entirely an OFS, the AMC itself will not receive funds from the IPO. Instead, the proceeds will flow directly to the selling shareholders — Canara Bank and its partner.

Why It Matters for Investors

The SEBI nod provided clarity on the IPO structure and timing, which in turn brought fresh attention to Canara Bank share price. Investors often view such regulatory clearances as milestones in unlocking value from subsidiaries, especially when they are large and growing businesses like asset management companies.

Canara Bank Share Price Performance Over Time

The stock’s rise today fits into a broader pattern of steady performance.

• 1 Month: +20%
• 6 Months: +40%
• 1 Year: +11%
• 5 Years: +600% (multibagger returns)

These numbers underline how the bank has delivered consistent returns over the years, with sharp outperformance in recent periods.

Summary

To sum up the day’s highlights:

• Canara Bank share price gained 3.27%, touching ₹124.45 intraday
• The rally was driven by SEBI approval of Canara Robeco AMC’s updated DRHP
• The AMC IPO will be a 4.98 crore share Offer for Sale
• Canara Bank (51%) and ORIX Europe NV (49%) are the selling shareholders
• Proceeds will go directly to the promoters; the AMC won’t receive funds
• The stock has shown 20% gains in a month and 600% returns in 5 years