| The initial public offer of Canara HSBC Life Insurance Company received bids for 4,44,01,280 shares as against 16,67,15,000 shares on offer, according to stock exchange data at 17:00 IST on Monday (13 October 2025). The issue was subscribed 0.27 times.
The issue opened for bidding on 10 October 2025 and it will close on 14 October 2025. The price band of the IPO is fixed between Rs 100 and 106 per share. An investor can bid for a minimum of 140 equity shares and in multiples thereof.
The IPO comprises an OFS of 23.75 crore equity shares, aggregating to Rs 2,375 crore.
OFS from the promoters comprised sale of 13.775 crore equity shares by Canara Bank and up to 0.475 crore equity shares by HSBC Insurance (Asia-Pacific) Holdings. The promoter shareholding will decline from the pre-IPO level of 77% to 62% post IPO. Canara Bank will be holding 36.5% stake in the company and HSBC at 25.5%
Canara HSBC Life Insurance, promoted by Canara Bank and HSBC, is a leading private life insurer in India, offering savings, protection, retirement, and group insurance products. It leverages bancassurance through Canara Bank and HSBC and serves over 10 million customers. The company is well-capitalized with a solvency ratio of 200% and strong financial growth in premium, AUM, and embedded value.
Ahead of the IPO, Canara HSBC Life Insurance Company, on 10 October 2025, raised Rs 750.32 crore from anchor investors. The board allotted 7.07 crore shares at Rs 106 each to 33 anchor investors.
The firm reported a consolidated net profit of Rs 23.41 crore and a total income of Rs 42.35 crore for the six months ended on 31 March 2025. |