Canara HSBC IPO price band: The Canara HSBC Life Insurance IPO price band has been fixed in the range of ₹100 to ₹160 per equity share of the face value of ₹10. The Canara HSBC IPO date of subscription is scheduled for Friday, October 10, and will close on Tuesday, October 14. The allocation to anchor investors for the Canara HSBC IPO is scheduled to take place on Thursday, October 9. The Canara HSBC IPO lot size is 140 equity shares and in multiples of 140 equity shares thereafter.
Canara HSBC IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Tentatively, Canara HSBC IPO basis of allotment of shares will be finalised on Wednesday, October 15, and the company will initiate refunds on Thursday, October 16, while the shares will be credited to the demat account of allottees on the same day following refund. Canara HSBC share price is likely to be listed on BSE and NSE on Friday, October 17.
Canara HSBC IPO details
Canara HSBC’s IPO is entirely an offer-for-sale of up to 23.75 crore shares by its promoters, which include Canara Bank, HSBC Insurance Asia-Pacific Holdings (part of the Hongkong and Shanghai Banking Corporation group), and Punjab National Bank. This sale represents 25% of the company’s paid-up equity.
Currently, Canara Bank holds a 51% stake in Canara HSBC Life Insurance Company, while HSBC Insurance (Asia-Pacific) Holdings owns 26%, and Punjab National Bank has a 23% stake.
As this IPO is a complete offer-for-sale, the proceeds will go directly to the selling shareholders, and the company itself will not benefit financially from the IPO.
The lead managers for this IPO include SBI Capital Markets, BNP Paribas, HSBC Securities and Capital Markets (India), JM Financial, and Motilal Oswal Investment Advisors. Kfin Technologies Ltd is functioning as the registrar for the issue.
Company details
Canara HSBC Life Insurance, established in 2007, has emerged as the third-largest life insurer among public sector banks in India. As of June 2025, the company reported assets under management totaling ₹43,639.5 crore, reflecting a 6% increase from ₹41,166.4 crore in March 2025.
In terms of financial performance, Canara HSBC competes with other listed players like SBI Life Insurance, HDFC Life Insurance, and ICICI Prudential Life Insurance. For the quarter ending June 2025, the company recorded a profit of ₹23.4 crore, marking a growth of 25.2% compared to ₹18.7 crore in the same quarter the previous year. The annualized premium equivalent (APE) for this period also saw a positive trend, increasing by 4.4% to ₹492.8 crore from ₹472 crore.
For the fiscal year 2025, profits rose by 3.2% to ₹117 crore, up from ₹113.3 crore the previous year. The annualized premium equivalent surged by 23.9% to ₹2,339.4 crore, compared to ₹1,887.8 crore last year. Additionally, the value of new business (VNB) reached ₹446 crore, an 18.1% increase over the previous ₹377.6 crore, although the VNB margin saw a slight decline from 20% to 19.07% during the same timeframe.
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