Canara Robeco IPO Listing Today: AMC Sees Strong Dalal Street Debut, Share Price Up 4.3%, Should You Buy?

Canara Robeco IPO Listing Today: Shares of Canara Robeco Asset Management Company made a decent stock market debut on Thursday, October 16. Canara Robeco IPO listed on NSE at Rs 280.25 per share, compared to the issue price of Rs 266 per share. The premium listing of the share has come as a positive for investors who had subscribed for the issue.

Canara Robeco Share Price Today

Canara Robeco share price today was trading 4.14% higher at Rs 291.85 per share on BSE at 10:11. The company scrip's market capitalisation stood at Rs 5,820 crore. The company scrip had touched an intraday high mark of Rs 292.75 per share. Prior to Canara Robeco IPO Listing today, its IPO GMP indicated at a positive listing.

Canara Robeco AMC Share Price Recommendation

Canara Robeco AMC is expected to showcase strong growth potential given its business prospects and better equity performance that could lead to increase in net equity flow market share, noted PL Capital in its report on Wednesday.

Canara Robeco Share Price Target

"We initiate coverage on CRAMC with 'BUY' rating as we are optimistic about its business prospects given that (1) better equity performance could lead to increase in net equity flow market share (1.3% in H1FY26) and, in turn, improve stock market share, which may translate to AAuM CAGR of 20% over FY26- 28E (~3% higher than industry)," noted the brokerage in its report.

PL Capital has given a buy rating for Canara Robeco shares with a price target of Rs 320 per share. The higher equity share of 90% could also lead to higher core earnings, noted the brokerage mentioning that the Indian equities are likely to show strength in the medium to long term.

"We see healthy core earnings CAGR of 17% over FY25-28E, better than listed peers. Upper band of Rs266 suggests a value of 19.6x on Sep'27 core EPS (UTIAM: 16.7x, ABSLAMC: 22.7x), indicating 42.5% discount to NAM. We assign 24x multiple to arrive at TP of Rs320; CRAMC is attractive in the small-cap space. Initiate with 'BUY'," noted the brokerage.

Canara Robeco IPO GMP Today

Canara Robeco Asset Management Company's IPO GMP stood at Rs 22, according to investorgain.com data at 8:30 am on Thursday, October 16. The company has fixed its upper price band of Rs 266 per share. Considering last Canara Robeco IPO GMP today, the company's estimated listing price is Rs 288 (sum of price band and IPO GMP Today). The expected percentage gain or loss per share is 8.27%.

The lowest IPO GMP for Canara Robeco was Rs 0 per share and the highest GMP for the IPO is recorded at Rs 22 per share.