Canara Bank subsidiary IPO: Canara Robeco AMC gets SEBI for updated DRHP

Bank subsidiary IPO : Canara Robeco Asset Management Company (AMC ), the asset management subsidiary of state-run Canara Bank , has received approval from the Securities and Exchange Board of India (SEBI ) for its Updated Draft Red Herring Prospectus (UDRHP) on September 29, paving the way for its proposed initial public offering (IPO). Canara Bank subsidiary IPO: Canara Bank and Japan’s Orix Corporation According to the filing, the promoters of Canara Robeco AMC, Canara Bank and Japan’s Orix Corporation, will collectively offload up to 49854357 equity shares through the public issue. Out of this, Canara Bank is set to sell up to 25924266 shares, while Orix will divest up to 23930091 shares.