Canara Robeco Asset Management Company, one of India’s oldest asset managers, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering. The IPO, a pure offer for sale (OFS) of 4.98 crore shares, comes as market volatility casts a shadow over new listings. Promoters Canara Bank and ORIX Corporation Europe N.V. plan to dilute their stakes, with no proceeds accruing to the company itself. As the AMC seeks to reposition in a competitive landscape, the move reflects strategic realignment by its parent institutions.