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News Topical, Digital Desk : Two major new IPOs have entered the primary market. However, these two IPOs are currently being discussed sparingly, as investors are currently focused on the Tata Capital and LG IPOs.
Speaking of these two new IPOs, the Rubicon Research IPO is gaining traction with investors due to its attractive offering price (GMP). The IPO's GMP was recorded at ₹98 on October 9th. This IPO is expected to generate a 20.21% gain.
However, the Canara Robeco Asset Management IPO's GMP isn't as impressive. Therefore, investors aren't showing much interest. As of 12:55 p.m., retail subscriptions were 0.22 times, meaning that only 22% of the issue was subscribed. Overall subscriptions were 0.14 times.
Additionally, the Rubicon Research IPO was subscribed 0.72 times in retail at 12:58 p.m. However, Anand Rathi is expressing confidence in the Canara Robeco Asset Management IPO. Let's find out why.
Why does Anand Rathi have confidence?
Anand Rathi's report highlights how the company's revenue has been growing year after year, along with some key highlights about the company.
Highlights about the company
- According to a report by Anand Rathi, it is India's second-oldest Asset Management Company (AMC). This company is controlled by Canara Bank and Robeco (a Hong Kong company). Robeco holds 49 percent of its shares and Canara Bank holds 51 percent. Currently, this company offers 26 mutual fund schemes.
- This company creates a diversified portfolio for investors by investing in different companies.
| FY 2022-23 | FY 2023-24 | FY 2024-25 | |
| revenue | 2046 | 3181 | 4037 |
| EBITDA | 1129 | 2011 | 2641 |
- Along with this, there has been a growth in the company's revenue in the last three years.
Should you buy or not?
Anand Rathi's report calls this IPO fully priced and recommends investing in this IPO for the long term.
Basic information about IPO
Before the issue of shares
| percent | |
| Promoters | 100 |
| Public | 0 |
After the issue of shares
| percent | |
| Promoters | 75 |
| Public | 25 |
Basic Details
- Public issue – October 8 to October 13
- Price band: Rs 253 to Rs 266
- Lot size 56 shares
Read More: Why is the Tata Capital IPO not fully subscribed yet? Is this the real reason, not GMP?
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