Canara Bank to list Mutual Fund subsidiary Canara Robeco Asset Management Company Ltd

Canara Bank has in principle approved to initiate the process of listing its Mutual Fund Subsidiary Canara Robeco Asset Management Company Ltd, in the Stock Exchanges by way of Initial Public Offer (IPO), subject to following the due diligence, laid down procedures, opportune time, regulatory approvals etc.

The modalities of listing will be decided in due course. The bank will make further announcements of all material developments with regard to the same, as and when required, as per applicable regulations.

Shares of Canara Bank was last trading in BSE at Rs. 432.60 as compared to the previous close of Rs. 425.05. The total number of shares traded during the day was 189157 in over 2514 trades.

The stock hit an intraday high of Rs. 435.25 and intraday low of 426.35. The net turnover during the day was Rs. 81646933.00.

Source : Equity Bulls

Keywords

CanaraBank INE476A01014 CanaraRobecoAssetManagementCompany MutualFundSubsidiary Listing IPO