Canara Robeco AMC IPO: Canara Robeco Asset Management Company Ltd made a strong debut on the stock exchanges on Wednesday, listing at Rs 280.25, roughly 5 per cent above its upper issue price of Rs 266 per share.

The IPO had earlier received an overwhelming response from investors, being subscribed nearly 10 times on the final day of bidding.

The IPO, valued at around Rs 1,326 crore, was a complete offer-for-sale (OFS), meaning the company itself did not raise any fresh funds.

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Instead, the proceeds from the sale went entirely to the selling shareholders, Canara Bank and ORIX Corporation Europe N.V. (formerly Robeco Groep N.V.). Canara Bank sold 2.59 crore shares, while ORIX sold 2.39 crore shares.

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