Following its successful anchor book allocation of INR 750.32 crore to prominent domestic and international institutional investors on October 9, 2025, the eagerly anticipated Canara HSBC Life Insurance Company Limited initial public offering (IPO) commenced today.
ICICI Prudential Mutual Fund (MF), HDFC MF, DSP MF, WhiteOak Capital, Mirae Asset MF, Allianz Global Investors Fund, Amundi Funds, Matthews India Fund, Tata MF, Motilal Oswal MF, and Societe Generale were among the institutional investors who participated in the anchor book, according to a circular posted on the BSE website. About 7.08 crore equity shares, valued at 106 per share, have been distributed to 33 funds by Canara HSBC Life. According to the circular, the distribution amounts to a total transaction size of INR 750.32 crore.
IPO Dates to Look For
According to the insurer, subscriptions for the INR 2,516-crore IPO will go live on October 10 and run through October 14. For its initial public offering (IPO), the company has established a price range of INR 100 to INR 106 per share, with an upper-end valuation of roughly INR 10,000 crore. Promoted by Canara Bank, which owns 51% of the company, and HSBC Group’s HSBC Insurance (Asia Pacific) Holdings, which owns 26%, Canara HSBC Life Insurance Company is a joint venture.
The initial public offering (IPO) of Canara HSBC Life is a full offer for sale (OFS) of 23.75 crore equity shares by investors and promoters. Punjab National Bank intends to sell 9.5 crore equity shares, HSBC Insurance (Asia-Pacific) Holdings Ltd. would sell 47.5 lakh shares, and Canara Bank will sell 13.77 crore equity shares under the OFS. Since it’s an OFS, the revenues from the public offering will go to the selling shareholders rather than the corporation.
About Canara HSBC Life Insurance & Issue Allocation
Since its 2007 incorporation, Canara HSBC Life has developed into one of the leading bank-led private companies in the Indian life insurance market. Regarding issue allocation, qualified institutional buyers (QIBs) will receive 50% of the IPO, retail investors will receive 35%, and non-institutional investors will receive the remaining 15%.
Investors may also place bids for multiples of 140 shares, which is the minimum amount. A three-way joint venture, Canara HSBC Life Insurance is owned by Punjab National Bank (23%), HSBC Insurance (Asia-Pacific) Holdings (26%), and Canara Bank (51%). It has been consistently profitable for 13 years, supported by strong bancassurance distribution through more than 15,700 bank branches, and provides life insurance, savings, ULIPs, and annuity products.
Quick Highlights
- Canara HSBC Life Insurance IPO opens today, following a successful anchor book subscription of INR 750.32 crore on October 9, 2025.
- 7.08 crore equity shares at INR 106 each to 33 funds, totalling INR 750.32 crore.
- INR 2,516 crore IPO, priced between INR 100 and INR 106 per share, valuing the company at around INR 10,000 crore.
- IPO Timeline- Subscriptions open Oct 10-14, 2025.