Canara Bank announced regarding in principle approval to initiate the process of listing its Canara Robeco Asset Management Company Ltd, by way of Initial Public Offer (IPO). In furtherance the Canara Bank has accorded approval for initiating the process for diluting 13% stake of the bank by listing of Canara Robeco Asset Management Company Ltd. (CRAMC) in the stock exchange by Initial Public Offer (IPO) subject to approval from Reserve Bank of India and Department of Financial Services, Ministry of Finance, Govt. of India.