Canara HSBC Life Insurance IPO Day One — Check Subscription, GMP, Other Details
The company aims raise up to Rs 2,517 crore and has set a price band of Rs 100-106 per share.
Canara HSBC Life Insurance Ltd.'s initial public offering opened for bidding on Oct. 10 and was subscribed 0.08 times as of 03:08 p.m. on Friday. The company aims raise up to Rs 2,517 crore and 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.
Canara Bank, HSBC Insurance (Asia-Pacific) Holding Ltd. were the promoters offloading stake and Punjab National Bank is the investor selling shareholder.
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.
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
IPO Subscription Details
The Canara HSBC Life Insurance IPO has been subscribed 0.08 as of 03:08 p.m. on Friday.
Qualified Institutional Buyers (QIBs): 0.03
Non-Institutional Investors (NIIs): 0.01
Retail Individual Investors: 0.12
IPO GMP Details
In the unlisted or grey market, Canara HSBC Life Insurance IPO quoted a premium of Rs 4. With the upper price band of Rs 106, Canara HSBC Life Insurance IPO's estimated listing price is Rs 110, indicating a gain of 9.43%, as per Investorgain.com as of 03:10 p.m.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
