Canara Robeco AMC debuts with 5% hike

New Delhi: Shares of Canara Robeco Asset Management Company on Thursday climbed over 5 per cent in its debut trade against the issue price of RS 266.

The stock made its market debut at Rs 280.25, up 5.35 per cent, from the issue price on both the BSE and NSE. The company’s market valuation stood at Rs 6,056.31 crore.

The initial public offer of Canara Robeco Asset Management Company Ltd received 9.74 times subscription on the final day of bidding on Monday. The Rs 1,326 crore IPO had a price band of Rs 253 to Rs 266 per share.