Canara Bank: The PSU bank will make further announcements of all material developments regarding the same, as and when required, as per applicable regulations.
"We wish to inform you that 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 an Initial Public Offer (IPO)," the state-owned lender said in a notification to exchanges.
When listed, Canara Robeco Asset Management Company will be the fifth mutual fund company to debut on bourses in India following the footsteps of HDFC AMC, Nippon Life India AMC, UTI Asset Management Company, and Aditya Birla Sun Life AMC.