- Price Band has been fixed at ₹ 100 to ₹ 106 per Equity Share
- Bid / Offer will open on Friday, October 10, 2025 and close on Tuesday, October 14, 2025
- The Anchor Investor Bid / Offer Period shall be Thursday, October 9, 2025
- Bids can be made for a minimum of 140 Equity Shares and in multiples of 140 Equity Shares thereafter
NE BUSINESS BUREAU
AHMEDABAD, OCT 8
Canara HSBC Life Insurance Company Ltd on Wednesday set a price band of ₹100 to ₹106 per share for its upcoming initial public offering (IPO), targeting a valuation of about ₹10,000 crore at the upper end.
The insurer’s ₹2,516-crore public offering would open for subscription on Friday, October 10 and conclude on Tuesday, October 14. The bidding for anchor investors would open for a day on Thursday, October 9, according to a public announcement.
Further, investors can bid for a minimum of 140 shares and in multiples thereof.
Joint Venture and Stakeholders
Canara HSBC Life Insurance Company is a joint venture promoted by Canara Bank, which holds a 51 per cent stake, and HSBC Group’s HSBC Insurance (Asia Pacific) Holdings, which owns 26 per cent.
Canara HSBC Life’s IPO is a complete offer for sale (OFS) of 23.75 crore equity shares by promoters and an investor.
Offer for Sale Details
Under the OFS, Canara Bank will sell 13.77 crore equity shares, amounting to 14.5 per cent stake; HSBC Insurance (Asia-Pacific) Holdings Ltd will offload 47.5 lakh shares or 0.5 per cent holding; and Punjab National Bank plans to divest 9.5 crore equity shares, equivalent to 10 per cent stake.
Following the stake-sale, Canara Bank will hold 36.50 per cent stake, HSBC Insurance 25.50 per cent and PNB 10 per cent.
Since it’s an OFS, the company will not receive any proceeds from the public issue, instead funds will go to selling shareholders.
Company Profile and Product Offerings
Incorporated in 2007, Canara HSBC Life has grown into a prominent bank-led private player in the Indian life insurance sector. The company offers a comprehensive range of life insurance products tailored for both individual and group customers. Its offerings primarily include saving and endowment plans, term (pure protection) plans, retirement solutions, group credit life and protection plans.
Canara HSBC Life Insurance is positioned as the third largest public sector bank-led life insurer in India. As of June 2025, the company reported assets under management of Rs 43,639.5 crore, reflecting a 6% increase compared to Rs 41,166.4 crore as of March 2025. Its business model is shaped by strategic alliances, providing it with a prominent presence within the sector.
Distribution Network
As of March 31, 2025, Canara Bank managed 9,849 branches across India. It also has access to the branch network of 7 regional rural banks through distribution agreements.
CEO comments
Anuj Dayal Mathur, MD and CEO of the company, said, “The insurance industry is expected to see growth following the reduction of GST. During the last three years, Canara HSBC Life has grown faster than the industry, with a compounded annual growth rate (CAGR) of about 17 per cent, which is way higher than the industry’s 10-12 per cent. The growth was driven by robust bancassurance partnerships, which offers systematic access to customers and allows competitive pricing.”
Financial Performance
On the financial front, the company reported a net profit of ₹117 crore in FY25 compared to ₹113.32 crore in the preceding financial year. Its embedded value increased to ₹6,111 crore as of March 31, 2025 from ₹ 5,180 crore a year ago.
Share Allocation
The reservation for the issue is structured as not more than 50% for qualified institutional buyers (QIBs), not less than 35% for non-institutional investors (NIIs), and not less than 15% for retail investors.
Listing and lead managers
The Equity Shares offered pursuant to the RHP are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.
SBI Capital Markets Limited, BNP Paribas, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers to the Offer
