divests stakes in two of its subsidiaries through initial public offerings (IPOs) -- Canara Robeco Asset Management Company (AMC) and Canara HSBC Life Insurance Company. The IPO of Canara Robeco AMC opened for subscription on October 9 and will close on October 13, while the Canara HSBC Life Insurance IPO will open tomorrow and conclude on October 14, positioning the PSU bank for substantial gains from both offerings. Advertisement

Canara Bank stands to make significant gains from the Canara Robeco AMC IPO, as it is selling shares worth nearly Rs 690 crore. The IPO is entirely an offer for sale (OFS) by the company's promoters -- Canara Bank and ORIX Corporation Europe NV. The price band has been fixed at Rs 253–266 per share.

According to the red herring prospectus, Canara Bank is offl

See Full Page