Upcoming IPO: Canara HSBC Life Insurance Files IPO Papers With SEBI

Posted by : sachet | Wed Apr 30 2025

Upcoming IPO: Canara HSBC Life Insurance Files IPO Papers With SEBI

Upcoming IPO: Canara HSBC Life Insurance files IPO DRHP (Draft Red Herring Prospectus) with SEBI. According to the CRISIL report, the company ranks among the top 5 bank-led life insurers in India. As backed by Canara Bank, Canara HSBC Life Insurance reflects a 2-year CAGR (Compound Annual Growth Rate) of 232.61%. 

Canara HSBC Life Insurance IPO Details

  • Canara HSBC Life Insurance IPO is entirely an offer for sale (OFS) for 23.75 crore equity shares. 
  • The Canara HSBC Life Insurance shares are set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
  • SBI Capital Markets, BNP Paribas, HSBC Securities & Capital Markets, JM Financial, and Motilal Oswal Investment Advisors are the book-running lead managers of the Canara HSBC Life Insurance IPO.
  • Punjab National Bank (PNB) is to sell 9.5 crore equity shares in this IPO.
  • Canara Bank is to sell 13.77 crore equity shares in this IPO.
  • HSBC Insurance (Asia-Pacific) Holdings Limited will sell 4.75 lakh shares in this IPO.
  • Since it is an offer for sale, the company will not receive any proceeds from the public issue.  
  • Canara HSBC Life Insurance IPO will raise around ₹16,500 crore from the market. 

About Canara HSBC Life Insurance 

Canara HSBC Life Insurance is an Indian life insurance company headquartered in Gurugram, Haryana. It was founded in 2008 through a joint venture between Canara Bank, HSBC Insurance (Asia-Pacific) Holdings Limited, and Punjab National Bank. Shareholding pattern of Canara HSBC Life Insurance is mentioned below.

PromotersShareholding (in %)
Canara Bank 51%
HSBC Insurance (Asia-Pacific) Holdings Limited23%
Punjab National Bank23%

Final Thoughts

Canara HSBC Life Insurance files for IPO DRHP with the Securities Exchange Board of India (SEBI). The IPO is all set to gather investors’ attention in the Indian stock market. It is entirely an offer for sale of 23.75 crore shares worth ₹16,500 crore. 

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