The initial public offering (IPO) of Canara HSBC Life Insurance Company, valued at ₹2,517 crore, experienced a notable increase in investor interest on its final day of bidding, with an overall subscription of 2.29 times reported as of 5:12 PM.
Qualified institutional buyers led the demand, exhibiting a subscription rate of 7.05 times. In contrast, non-institutional investors (NIIs) and retail investors showed lower interest, with subscriptions of 0.33 times and 0.42 times, respectively. The IPO attracted bids for 38.21 crore equity shares, against an offer of 16.67 crore shares.
The offering, which commenced on October 10, concludes today and consists entirely of an offer for sale (OFS) of 23.75 crore equity shares. The price band is set between ₹100 and ₹106 per share, with a minimum application lot of 140 shares.
In preparation for the IPO, the company secured over ₹750 crore from anchor investors by allotting 7.08 crore shares to 33 funds, including notable entities such as ICICI Prudential Mutual Fund, HDFC Mutual Fund, DSP Mutual Fund, WhiteOak Capital, Mirae Asset Mutual Fund, Allianz Global Investors Fund, and Amundi Funds.
Key selling shareholders include Canara Bank, HSBC Insurance (Asia-Pacific), and Punjab National Bank. While analysts typically regard the company’s fundamentals and promoter backing positively, the tentative demand at this juncture suggests a cautious sentiment among investors.
The allotment of shares is scheduled for October 15, 2025, with the anticipated listing set for October 16.
Published on October 14, 2025.
