Canara HSBC Life Insurance IPO Opens Today; Raises ₹750.32 Crore from Anchor Investors

Mumbai, October 10, 2025 – The long-awaited Canara HSBC Life Insurance Company Limited initial public offering (IPO) opened today, after its strong anchor book allotment of ₹750.32 crore to marquee domestic and international institutional investors on October 9, 2025. The ₹2,518 crore IPO, priced at ₹100–₹106 per share, will close on October 14, with listing on October 17, 2025, on both NSE and BSE.

Operational since 2007, Canara HSBC Life Insurance Company Limited is one of India’s leading bank-sponsored life insurers. With a solvency margin of 200.4%, an embedded value of ₹61,107 crore, and a claim settlement percentage of 99.38%, the company is still one of the best financially sound players in the life insurance space.

Canara HSBC Life Insurance IPO Anchor Investor Allocation

Prior to the opening of its IPO, Canara HSBC Life Insurance Company Limited IPO offered 7.08 crore equity shares at the higher end of the price band of ₹106 per share to 33 anchor investors, reflecting strong institutional demand for the issue. Of the total anchor allotment, 60.31% (4.27 crore shares) was taken by eight domestic mutual funds across 18 schemes, reflecting strong participation from long-term investors.

Among the significant anchor investors were HDFC Balanced Advantage Fund (52.86 lakh shares, ₹56.03 crore), HDFC Value Fund (35.24 lakh shares, ₹37.36 crore), ICICI Prudential Banking & Financial Services Fund and ICICI Prudential Innovation Fund (each holding 46.03 lakh shares, ₹48.79 crore each), Mirae Asset ELSS Tax Saver Fund (42.03 lakh shares, ₹44.55 crore), DSP Small Cap Fund (21.02 lakh shares, ₹22.28 crore), Allianz Global Investors Fund – Allianz India Equity (35.11 lakh shares, ₹37.22 crore), and Pictet Indian Equities (35.11 lakh shares, ₹37.22 crore).

Global participation has been witnessed from institutions including Amundi Funds New Silk Road, Public Sector Pension Investment Board (IIFL AMC), Marshall Wace Eureka Fund, Societe Generale (ODI), and Copthall Mauritius Investment Ltd.

Canara HSBC Life Insurance IPO Snapshot

The ₹2,518 crore IPO of Canara HSBC Life Insurance Company Limited opened for subscription on October 10, 2025, and closes on October 14, 2025. The shares are to be listed on October 17, 2025. The price band for the issue has been set at ₹100-₹106 per share, with a lot size of 140 shares, resulting in a minimum investment of ₹14,840 per lot. Every share has a face value of ₹10, and the retail investor UPI bid cut-off time is 5 PM on October 14, 2025.

Canara HSBC Life Insurance IPO Business Overview

Canara HSBC Life Insurance is a three-way joint venture between Canara Bank (51%), HSBC Insurance (Asia-Pacific) Holdings (26%), and Punjab National Bank (23%). It offers life insurance, savings, ULIPs, and annuity products and has been steadily profitable for 13 years, backed by robust bancassurance distribution through 15,700+ bank branches.

Canara HSBC Life Insurance IPO Lead Managers and Registrar

The IPO is managed by a consortium of lead managers, with SBI Capital Markets Limited, BNP Paribas, HSBC Securities and Capital Markets (India), JM Financial Limited, and Motilal Oswal Investment Advisors Limited serving as the Book-Running Lead Managers. KFin Technologies Limited has been designated as the Registrar to the Issue.

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