Canara HSBC Life Share Price In Focus Ahead Of Stock Market Debut On Friday
The unlisted shares of Canara HSBC Life Insurance Company have been trading flat in the private market.
Shares of Canara HSBC Life Insurance Company Limited will list on BSE and NSE on Friday, October 17.
The initial public offering (IPO) of Canara HSBC Life Insurance was oversubscribed 2.29 times, with investors bidding for 38,21,62,200 against the 16,67,15,000 shares on offer.
The share allotment status for the IPO was finalised on Wednesday. The transfer of shares to the demat accounts of successful bidders was done on October 16, and refunds for non-allottees was also completed on the same day.
Ahead of its listing today, the unlisted shares of Canara HSBC Life Insurance Company have been trading flat in the private market.
Canara HSBC Life IPO GMP And Estimated Listing Price
The GMP for the Canara HSBC Life IPO was Rs 2 as of 8:00 a.m. on October 17. It indicates a listing price of Rs 108 (Rs 106 + Rs 2) per share, indicating a potential listing gain of around 1.89%.
This means the shares of Canara HSBC Life Insurance Company are expected to list at Rs 108 per share, indicating a listing gain of around 2%. Investors will continue to monitor the GMP trends as the mainboard issue lists on the market tomorrow.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Canara HSBC Life IPO: Key Details
The Canara HSBC Life IPO was a book build issue of Rs 2,517.5 crore. The issue is entirely an OFS of 23.75 crore shares.
The price band for the IPO was set between Rs 100 and Rs 106 per share.
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 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.
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.
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.
