Canara HSBC Life Insurance Company experienced a muted stock market debut today, listing at ₹106 per share on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), matching its issue price. This performance follows a modest debut by Canara Robeco the day before.
The subdued listing was largely anticipated, with analysts predicting a subdued market response due to mixed investor sentiment in the insurance sector and moderate subscription levels during the initial public offering (IPO).
The ₹2,517-crore IPO featured a price band of ₹100 to ₹106 per share and was entirely an offer for sale (OFS) by existing shareholders, including Canara Bank and HSBC Insurance (Asia-Pacific) Holdings. The issue saw oversubscription on its closing day. Prior to the IPO, the company allocated 7,07,85,000 equity shares to 33 anchor investors, successfully raising ₹750.32 crore at the fixed price of ₹106 per share.
Brokerages maintained a cautious outlook regarding the IPO, pointing to the company’s modest growth history and the competitive dynamics within the life insurance sector. Nonetheless, they noted Canara HSBC Life’s robust bancassurance network, supported by Canara Bank’s extensive branch operations, as a potential advantage for long-term growth.
Published on October 17, 2025
