Indian-origin CEO announces layoffs at $3.4 billion US startup: ‘Difficult day’Healthtech unicorn Innovaccer, led by Abhinav Shashank, has carried out a fresh round of layoffs as it moves towards an AI-native structure. Updated on: May 17, 2026 11:04 AM IST By Sanya Jain Share via Copy link
At least eight people were killed and 25 others injured after a train collision triggered a fire that engulfed a public bus in Bangkok on Saturday (May 16, 2026), rescue officials and police said. Firefighters and rescue crews were dispatched as flames engulfed the bus
‘This day is my favourite’: Indian man praises UK corporate culture after painting zoo railings with colleaguesAn Indian man shared how UK Volunteer Day culture gave him a chance to try painting and bond with colleagues. Published on: May 17
Gurugram-based logistics services provider has elevated six senior executives to C-suite roles as the company looks to strengthen its leadership team amid expansion across business verticals. The company said in a stock exchange filing that the appointments are effective immediately
Manipur deputy chief ministers key negotiators in abduction crisisThe two leaders are engaging with their respective communities to secure the safe return of at least 20 abducted people, officials said. Published on: May 17, 2026 11:07 AM IST By Prawesh Lama
Foxtail millets idli recipe: Give a delicious and healthy spin to this South Indian staple with Sanjeev Kapoor' recipeFoxtail millet, a nutritious grain from India, is used in various dishes. Chef Sanjeev Kapoor shares a recipe for idlis using foxtail millet and urad dal. Updated on: May 17
The Israeli military on Saturday (May 16, 2026) confirmed that Ezzedine Al-Haddad, chief of Hamas' armed wing, was killed in an air strike in Gaza the day before. "The IDF and the ISA announce that yesterday, in a precise strike in the area of the City of Gaza
IMD to revamp heatwave alerts, introduce percentile-based thresholds for first timeUnder the new framework, a heat alert will be triggered when maximum temperatures exceed the 95th percentile for a given location. Updated on: May 17, 2026 10:56 AM IST By Jayashree Nandi Share via Copy link
Canara Robeco IPO: 10 key things to know from RHP
Canara Robeco IPO: From business overview, financials to key risks— 10 key things to know from RHP
Canara Robeco IPO: The initial public offering (IPO) of Canara Robeco Asset Management Company is set to open for public subscription on Thursday, October 9 and will remain open until Monday, October 13. The share allotment is expected to be finalised on Tuesday, October 14, and successful bidders can expect the shares to be credited to their demat accounts on Wednesday, October 15. Canara Robeco shares are expected to be listed on the BSE and the NSE on Thursday, October 16.
Canara Robeco IPO is a book build issue and entirely an offer for sale (OFS) of 4,98,54,357 shares of face value of ₹10 each. Canara Robeco IPO price band is set at ₹253 to ₹266 per share.
Meanwhile, the grey market appears to be indifferent to the issue, as the latest grey market premium (GMP) of Canara Robeco stock is nil.
Canara Robeco IPO: 10 key things to know from RHP
Let's take a look at 10 key things to know from the Red Herring Prospectus (RHP) of the Canara Robeco IPO:1. Promoter selling shareholder
Canara Bank and ORIX Corporation Europe N.V. are the two promoter selling shareholders of the OFS.Canara Bank is selling up to 2,59,24,266 shares, while ORIX Corporation is offloading 2,39,30,091 shares in the OFS.
2. Canara Robeco's promoters
As per the RHP, Canara Bank holds 10,17,02,888 shares, equivalent to 51 per cent of the total share capital, in the company.ORIX Corporation Europe N. V. holds 97,714,540 shares, or 49 per cent shares of Canara Robeco.
3. Canara Robeco's management
The company has 11 directors on its board, comprising one executive director and 10 non-executive directors, including six independent directors, of whom two are women.K. Satyanarayana Raju, 59, is the non-executive director and chairman, while Rajnish Narula, 65, serves as the managing director and chief executive officer of the company.
4. Canara Robeco's business
The company claims to be India's second-oldest asset management company. Its primary activities include managing mutual funds and providing investment advice on Indian equities to Robeco Hong Kong Limited, a member of its promoter group."As of June 30, 2025, we managed 26 schemes comprising 12 equity schemes, 10 debt schemes and four hybrid schemes with a quarterly average asset under management (QAAUM) of ₹1,110.52 billion," the RHP reads.
5. Canara Robeco's financial performance
The asset management company's total revenue from operations for FY23 was ₹2,045.95 million, which rose to ₹3,180.90 million in FY24 and to ₹4,036.95 million in FY25.In FY26, for the period ended June 30, 2025, the company's total revenue from operations was ₹1,210.69 million, compared to ₹1,017.96 million in the same period the previous year.
Profit for FY23 was ₹790.01 million, rising to ₹1,509.95 million in FY24 and ₹1,907.04 million in FY25. For the period ended June 30, 2025, the company's profit was ₹609.77 million, compared to ₹510.71 million in the same period last year.
6. Canara Robeco IPO objects
Since the issue is entirely an OFS, the company will not receive any fresh funds for business expansion and general corporate purposes.According to the RHP, the primary objectives of the offer are to achieve the benefits of listing the equity shares on the stock exchanges.
"Our company expects that listing of the shares will enhance our visibility and brand and provide liquidity to existing shareholders. Listing will also provide a public market for the equity shares in India. Our company will not receive any proceeds from the offer. All proceeds will go to the promoter selling shareholders, in proportion to the shares offered by them in the offer for sale," says the RHP.
7. Canara Robeco's peers
HDFC Asset Management Company, Nippon Life India Asset Management, Aditya Birla Sun Life AMC, and UTI Asset Management Company are the major listed peers of the company.8. Extensive regulation is a key risk
The company's business is subject to extensive regulation, including periodic inspections by the SEBI. The RHP states that non-compliance with existing regulations or SEBI's observations could expose the company to penalties and restrictions on the business that we can undertake.9. Competitive industry
The company operates in a competitive industry, and its business and financial results may be negatively impacted if it is unable to compete effectively with its competitors.10. Industry outlook
As per the RHP, mutual funds have experienced a substantial increase as a proportion of household financial savings, growing from 2 per cent to around 7 per cent between fiscal 2021 and fiscal 2024, with the investment value expanding from ₹0.64 trillion to ₹2.39 trillion at a CAGR of 55 per cent during the same period.Read all IPO-related news here
Read more stories by Nishant Kumar
Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
Source: LiveMint
Related Posts: Rubicon Research vs Canara Robeco AMC IPO Canara Robeco AMC IPO Stock markets decline in initial trade on foreign fund outflows Hardik Pandya Gets Girlfriend Mahieka Sharma’s Initial Tattooed on Valentine’s Day Initial trends show Congress leading Telangana civic polls India-U.S. ‘very close’ to finalising initial framework deal on reciprocal tariffs Borrowers Get Relief As Canara Bank Reduces Repo-Linked Rate Canara Bank FD Rates Revised Canara Bank Begins Recruitment For 3500 Apprentice Posts Canara Bank Q3 results
Aditi Rao Hydari serves regal glamour at Cannes in a breathtaking green gown and statement silhouetteAditi Rao Hydari served a high-fashion red carpet look at Cannes 2026 with a green draped couture gown that took the internet by storm. Let’s decode her look. Published on: May 17
1 hours ago
India’s external affairs ministry on Saturday rejected an award reportedly issued by a court of arbitration about maximum pondage at Indian hydroelectric projects on the Indus river system, calling it null and void. Pondage refers to water that accumulates behind the dam of a run-of-the-river
1 hours ago
Bengal: Major anti-encroachment drive conducted to clear out Howrah station areaBengal: Major anti-encroachment drive conducted to clear out Howrah station area Published on: May 17, 2026 11:17 AM IST PTI Share via Copy link Kolkata, A massive anti-encroachment drive was carried out outside Howrah
1 hours ago
Actor Rajinikanth on Sunday broke his silence on actor-turned-politician Vijay becoming the state’s chief minister, saying he was “extremely shocked" by the development. Addressing reporters at his Poes Garden residence in Chennai, Rajinikanth said he felt compelled to clarify his position
1 hours ago
The Federation of Indian Medical Association (FAIMA) has flagged the “recurring, systemic, and catastrophic” failure of the National Testing Agency (NTA) in conducting the National Eligibility cum Entrance Test (NEET-UG) and has urged the Supreme Court to take a “stricter approach”
1 hours ago
Pakistani media has also disclosed that the final call on Mohsin Naqvi’s potential tour of India will be finalized by Pakistan’s Prime Minister Shehbaz Sharif. As we all know, the Indo-Pak relations, in the recent past, have deteriorated, especially after what happened in Pahalgam last
1 hours ago
Weekly Love Horoscope for May 17-23, 2026: Actions may be louder than words in love , learn to see the differenceWeekly Love Horoscope for May 17-23, 2026: This week asks for patience, trust, and emotional resilience. Published on: May 17, 2026 7:30 AM IST By Kishori Sud Share via Copy link Aries
4 hours ago
Only a few hundred dispirited Chelsea fans were still inside Wembley as Cole Palmer and Co trudged up the steps to collect their losers' medals following their FA Cup final defeat by Manchester City. The news of Xabi Alonso's impending arrival as the club's new manager
4 hours ago
A five-day work week will immediately reduce commuting by lakhs of bank officers and employees across the country, says the All India Bank Officers’ Confederation. The demand for a five-day workweek in banks has once again gained momentum, with the All India Bank Officers’ Confederation (AIBOC)
4 hours ago
The Maharashtra government has intensified its crackdown on bike taxi services by asking Apple and Google to remove ride-hailing apps such as Uber, Ola, and Rapido from their app stores over alleged illegal operations in the state. The notices
4 hours ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Which 1.5 ton 5 star split AC should you buy in 2026? 5 models to consider for lower electricity billsThese ACs come with air filtration systems
4 hours ago
Beware of bargains in private creditIt might make sense right now to look at investing in a business-development company whose shares trade at a premium to the underlying asset value. Published on: May 16, 2026 4:41 PM IST WSJ Share via Copy link To paraphrase Winston Churchill
4 hours ago
Shelby Campbell Michigan campaign in focus as Democrat's ‘twerking’ video goes viral; ‘not sending their best’Shelby Campbell, Democrat, is running for election to represent Michigan's 13th Congressional district, and an alleged video of her 'twerking' has gone viral. Published on: May 17
4 hours ago
Bulgarian pop star Dara has won the Eurovision Song Contest with her pneumatic dance anthem Bangaranga. The 27-year-old topped both the public and the jury vote in a nail-biting conclusion, soaring ahead of Israel in second and Romania in third to score a massive 516 points
4 hours ago
YS Jagan Mohan Reddy is preparing for the Assembly polls due in three years. He is focusing on strengthening grassroots connect and addressing past election setbacks. Reddy plans a statewide yatra and is identifying strong candidates. His recent activities include meeting farmers and criticizing
4 hours ago
Tamil Nadu Chief Minister C Joseph Vijay is assessing all government departments. A White Paper will detail the state's financial status. Ministers are working with district administrations to combat drug trafficking and illegal mining. The government assures transparency and plans to fulfill all
4 hours ago
Bandi Bhageerath, son of a Union minister, surrendered before the police in Telangana on Saturday evening, hours after the High Court declined to give interim protection from arrest in a Protection of Children from Sexual Offences Act case, the Hindustan Times reported.Bandi Bhageerath
4 hours ago
Indian Railway New Logo: Indian Railways has recently introduced a significant change to its logo. Specifically, the number of stars featured in the new logo has been increased from 17 to 18. Read on to understand the significance behind this change
4 hours ago
‘Entire NTA panel under scanner’: CBI widens NEET leak probe after 2nd insider arrestNTA expert Manisha Mandhare was arrested in the NEET-UG leak case, a day after alleged kingpin PV Kulkarni was held. Updated on: May 17, 2026 8:03 AM IST By Anita Goswami | Reported by Neeraj Chauhan Share via
4 hours ago
Editorial independence is core to our work. Some links may earn us a commission, without influencing our opinions.Stop paying for apps: 5 wireless printers that print directly from your iPhone, Android phone’s camera rollThese printers are ideal for both home and office usage and they are
4 hours ago
As India’s AI startup ecosystem grows increasingly competitive, recognition is becoming a key driver of visibility, credibility, and business growth. The ET Most Innovative AI Product Awards 2026 aims to spotlight startups building scalable, high-impact AI solutions across industries
4 hours ago
‘Dead scared to take a loan’: Hyderabad techie says IT jobs no longer feel secure amid layoffsA Hyderabad-based software engineer claims he is “dead scared” to take a loan right now due to lack of job security. Updated on: May 17, 2026 6:44 AM IST By Sanya Jain Share via Copy link A
4 hours ago
Tamil Nadu CM Vijay keeps home, police and women welfare portfolios in first TVK governmentTN Governor Rajendra Arlekar approved the allocation of portfolios to the nine ministers, along with Vijay, who were sworn in last week. Updated on: May 17
4 hours ago
Xiaomi is all set to launch its latest flagship, the Xiaomi 17 Max, in the Chinese market. Ahead of the launch, Xiaomi has also confirmed some of the key specifications of the phone, including its camera and battery details. Xiaomi 17 Max confirmed specs:Xiaomi has said its latest flagship will
4 hours ago
Tamil Nadu Chief Minister C Joseph Vijay has announced cabinet portfolios. Key ministers have been assigned their departments. Vijay himself holds several crucial portfolios including home and police. N Anand will manage rural development and water resources. KA Sengottaiyan takes charge of finance
4 hours ago
-6 A Smalley (US); -4 M Schmid (Ger), N Taylor (Can), J Rahm (Spa), A Rai (Eng), L Aberg (Swe); -3 R McIlroy (NI), X Schauffele (US), P Reed (US), M McNealy (US) Selected others: -2 J Rose (Eng), M Kaymer (Ger), H Matsuyama (Jpn); -1 S Scheffler (US), B Koepka (US)
4 hours ago
Meta employees took free snacks, chargers during layoffs: ‘Almost like doomsday’A former Meta employee has revealed that workers at the tech giant stuffed their bags with free goodies on the eve of the company’s first major layoff Updated on: May 17
4 hours ago
