Canara HSBC Life Insurance Co. has initiated investor roadshows in anticipation of its initial public offering (IPO), which is scheduled for the first half of October, according to sources familiar with the situation. The insurer, a partnership among Canara Bank, Punjab National Bank, and HSBC Group’s local insurance division, aims to raise up to $300 million, as revealed by anonymous sources due to the sensitive nature of the information.
Details regarding the IPO size and timing are still under discussion and may be subject to change. Canara HSBC Life has not responded to requests for comment via email.
In April, the company submitted a draft prospectus to India’s market regulator and received approval earlier this month. According to its April filing, Canara HSBC Life plans to offer up to 237.5 million shares, with Canara Bank expected to contribute the majority, providing 137.8 million shares. HSBC Insurance and Punjab National Bank plan to sell 4.7 million and 95 million shares, respectively.
The IPO process is being facilitated by the local branches of HSBC Holdings Plc and BNP Paribas SA, along with SBI Capital Markets Ltd., JM Financial Ltd., and Motilal Oswal Investment Advisors Ltd.
For the nine months ending December 31, the company reported a profit of 849 million rupees (approximately $9.6 million) in its filing.
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Published on September 30, 2025.
