Canara HSBC Life Insurance Ltd. is set to launch its initial public offering on Oct. 10, 2025, to raise up to Rs 2,517 crore, as per the red herring prospectus. The company has set a price band of Rs 100-106 per share for its three-day IPO. Canara HSBC Life Insurance will include 23.7 crore offer-for-sale. The minimum application lot size is 140 shares.
The proceeds from the OFS will go to the selling shareholders and not to Canara HSBC Life Insurance. Canara Bank, HSBC Insurance (Asia-Pacific) Holding Ltd. were the promoters offloading stake and Punjab National Bank is the investor selling shareholder.
SBI Capital Markets Ltd., PNB Paribas, HSBC Securities & Capital Markets India Pvt., JM Financial Ltd. and Motilal Oswal Investment Advisors Ltd. are the lead managers for the deal.
The lot size for an application is 13 shares, which means the minimum amount of investment required by a retail investor is Rs 14,840 based on the upper price band. The allotment of shares to IPO investors will be finalised tentatively on Oct. 15, and the credit to the demat account will be done on Oct. 16. LG will list on the BSE and NSE on Oct. 17.
IPO Details
Open date: Oct. 10
Close date: Oct. 14
Price Band: Rs 100-106 per share
Allotment date: Oct. 15
Listing date: Oct. 17
OFS: Rs 2,517.50 crore
Minimum bid: Lot size of 13 shares
Use Of Proceeds
The proceeds from the OFS will go to the selling shareholders and not to Canara HSBC Life Insurance. Canara Bank, HSBC Insurance (Asia-Pacific) Holding Ltd. were the promoters offloading stake and Punjab National Bank is the investor selling shareholder.
Business
Canara HSBC Life Insurance is a private life insurer in India, jointly promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings, a member of the HSBC Group. The company ranked third in assets under management among public sector bank-promoted life insurers as of March 31, 2025.
Incorporated in 2007, the company has established itself as a leading bank-led private life insurer. Its Annualised Premium Equivalent (APE) has shown consistent growth, supported by a diversified product portfolio and expanding market presence. The company’s profit after tax increased at a CAGR of 13.26%, rising from Rs 91.2 crore in fiscal 2023 to Rs 116.9 crore in fiscal 2025.
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