The initial public offering (IPO) of Canara HSBC Life Insurance that opened for subscription on Friday, October 10, will close on uesday, October 14. The mainboard issue has so far received a subdued response from the investors, as the IPO was subscribed only 0.27 times on Monday.
The unlisted shares of Canara HSBC Life Insurance Company have been trading flat in the private market.
The price band for the IPO is set between Rs 100 and Rs 106 per share.
Amid the ongoing subscription, the GMP as well as the Day 3 subscription status of Canara HSBC Life IPO will be in focus today. Here’s a look at what the latest trends indicate for the IPO.
Canara HSBC Life IPO GMP
The GMP for the Canara HSBC Life IPO was Rs 0 as of 2:00 p.m. on October 14. It indicates a listing price of Rs 107 (Rs 106 + Rs 0) per share, indicating a flast listing.
The highest GMP recorded for the IPO was Rs 14 on October 7. Private market investors will continue to monitor the GMP trends as the mainboard issue enters its final day of subscription.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Canara HSBC Life IPO Day 3 Subscription Status
The IPO was subscribed 1.39 times as of 2:21 p.m. on Tuesday
QIBs: 4.03 times
NIIs: 0.26 times
RIIs: 0.37 times
* Day 3 Subscription status will be updated at regular intervals.
Canara HSBC Life IPO: Key Details
The Canara HSBC Life IPO is a book build issue of Rs 2,517.5 crore. The issue is entirely an OFS of 23.75 crore shares.
The IPO was booked 0.09 times (9%) on Friday, with investors bidding for 1,51,36,800 shares against the 16,67,15,000 shares on offer.
The price band for the IPO is set between Rs 100 and Rs 106 per share.
Of the 16,67,15,000 shares on offer, 4,71,90,000 are reserved for QIBs, 3,53,92,500 are reserved for NIIs and 8,25,82,500 are reserved for RIIs.
SBI Capital Markets Ltd. is the book-running lead manager, and Kfin Technologies Ltd. is the registrar of the issue.
Canara HSBC Life Insurance is a private life insurance company. It is jointly promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Ltd.
Canara HSBC Life IPO: Allotment And Listing Date
The share allotment status for Canara HSBC Life is expected to be finalised on October 15. The company will transfer shares to the demat accounts of successful bidders on October 16, and refunds for non-allottees will be done on the same day.
Shares of Canara HSBC Life Insurance Company are scheduled to list on the BSE and NSE on October 17.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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