IPO Watch, April 25 -- Canara Robeco Asset Management Company Ltd has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).

The company is recognised as the second oldest asset management firm in India, according to the CRISIL Report. Canara Bank along with ORIX Corporation Europe N.V are the company's promoters. In December of last year, Canara Bank, announced that it has been granted permission by the Reserve Bank of India (RBI) to sell off its 13% stake in Canara Robeco Asset Management Company Ltd.

The main operations of the AMC include the management of mutual funds and offering investment advice on Indian stocks. As of D...