Canara HSBC Life Insurance IPO Opens at ₹106, Gains 4% on NSE and BSE

Mumbai, October 17, 2025 – Canara HSBC Life Insurance Company Limited had a stable stock market launch today, opening at its issue price of ₹106 per share on NSE and BSE before inching up in early trade.

It shot up to ₹110.30, a rise of ₹4.30 or 4.06%, in the first hour of trading, with healthy buying interest seen from the institutional and retail segments. At 12:42 PM, Canara HSBC Life Insurance Company Limited was at ₹110.48, up 4.10%.

Canara HSBC Life Insurance Muted but Steady Debut

The stock opened at ₹106.00 during the day, with a turnover of 39,681,133 shares and a value traded of ₹43,613.53 lakh. Volume-weighted average price (VWAP) was ₹108.57. Market capitalisation was ₹99,695 crore.

During the trading day, the stock reached intraday highs and lows of ₹111.00 and ₹106.00, respectively. The top and bottom circuit values of the stock are ₹127.20 and ₹84.80, respectively. The 52-week high and low of the stock were ₹106.00 and ₹111.00, respectively. The face value of the share was ₹10, and the book value per share was ₹10.65.

Market analysts have noted that the IPO’s reasonable valuation and stable demand distribution across investor classes have ensured a stable opening, and incremental upmoves are possible in the near term.

Canara HSBC Life Insurance Anchor Allocation

Before the issue of IPO, Canara HSBC Life Insurance had gathered ₹750.32 crore from 33 anchor investors at ₹106 per share. Key participants were:

• HDFC Balanced Advantage Fund
• ICICI Prudential Banking & Financial Services Fund
• Mirae Asset ELSS Tax Saver Fund
• Allianz Global Investors Fund
• Pictet Indian Equities
• Amundi Funds New Silk Road

Over 60% of the anchor share was provided by domestic mutual funds, reflecting healthy institutional sentiment towards the company’s long-term prospects.

Subscription Recap

Canara HSBC Life Insurance Company Limited’s IPO, which was open from October 10 to October 14, 2025, concluded with a total subscription of 2.29 times. Qualified Institutional Buyers (QIBs) bid for 33.28 crore shares out of 4.72 crore on offer, thereby earning a 7.05 times subscription. Non-Institutional Investors (NIIs) bid for 1.18 crore shares out of the 3.54 crore on offer, resulting in a 0.33 times subscription. Retail Individual Investors (RIIs) bid for 3.43 crore shares out of 8.26 crore on offer, earning a 0.42 times subscription. Employee subscriptions remained strong, with 31.89 lakh shares bid out of 15.50 lakh on reserve, translating to a 2.06 times subscription.

The high demand from mutual funds and foreign institutional investors drove the strong performance in the QIB category, while employee participation more than doubled its allocated portion.

Canara HSBC Life Insurance Lead Managers & Registrar

Lead Managers to the Issue of Canara HSBC Life Insurance Company Limited are SBI Capital Markets Limited, BNP Paribas, HSBC Securities and Capital Markets (India) Pvt. Ltd., JM Financial Limited, and Motilal Oswal Investment Advisors Limited. Registrar to the Issue is KFin Technologies Limited.

About Canara HSBC Life Insurance Company Limited

Canara HSBC Life Insurance Company Limited was established in 2007 and is a joint venture between Canara Bank (51%), HSBC Insurance (Asia-Pacific) Holdings (26%), and Punjab National Bank (23%). The Gurgaon-headquartered insurer also offers a diversified product basket, including life cover, ULIPs, annuities, and protection solutions, which it mainly distributes through its extensive bancassurance network spanning 15,700 bank branches.

In FY25, it announced a profit after tax of ₹1,169.8 crore, an embedded value of ₹61,107 crore, and a solvency of 200.4%, which evidences strong capitalisation and stable profitability.

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