Canara HSBC Life Insurance Gears Up for Stock Market Debut with Modest Gains Expected

1 min read     Updated on 17 Oct 2025, 08:12 AM
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Reviewed by
Radhika SahaniScanX News Team
Overview

Canara HSBC Life Insurance Company Limited is scheduled to list on BSE and NSE on October 17. The Rs 2,517.5 crore IPO was 2.29 times oversubscribed, with a price band of Rs 100-106 per share. The grey market premium suggests a modest listing gain of about 1.89%, with an estimated listing price of Rs 108. The company, a joint venture between Canara Bank and HSBC Insurance, ranks third in assets under management among public sector bank-promoted life insurers.

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*this image is generated using AI for illustrative purposes only.

Canara HSBC Life Insurance Company Limited is set to make its debut on the Indian stock exchanges, with listing scheduled for October 17 on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The initial public offering (IPO) has generated considerable interest among investors, setting the stage for what appears to be a modest but positive market entry.

IPO Details and Subscription

The Rs 2,517.5 crore IPO saw robust demand from investors:

Aspect Details
Subscription Rate 2.29 times oversubscribed
Shares Bid 38.21 crore
Shares Offered 16.67 crore
Price Band Rs 100 - Rs 106 per share
Offer Type Entirely Offer for Sale (OFS)
OFS Size 23.75 crore shares

The strong response from investors indicates a healthy appetite for the insurance sector in the Indian market.

Listing Expectations

As the company prepares for its market debut, early indicators suggest a positive start:

  • Grey Market Premium: Rs 2
  • Estimated Listing Price: Rs 108 per share
  • Potential Listing Gains: Approximately 1.89%

While the expected gains are modest, they still represent a positive sentiment towards the company's market entry.

Company Background

Canara HSBC Life Insurance stands out in the competitive insurance landscape:

  • Joint Venture: Between Canara Bank and HSBC Insurance
  • Market Position: Ranks third in assets under management among public sector bank-promoted life insurers

This positioning highlights the company's strong foundation and potential for growth in the insurance sector.

IPO Proceeds and Stakeholders

The IPO, being an offer for sale, will benefit the selling shareholders:

  • Promoters: Canara Bank and HSBC Insurance
  • Key Investor: Punjab National Bank

These established financial institutions as stakeholders lend credibility to Canara HSBC Life Insurance's market debut.

Investor Considerations

For potential investors, this IPO presents an opportunity to enter the growing Indian insurance market. However, as with any new listing, it's crucial to consider factors such as:

  1. The company's growth strategy in a competitive sector
  2. Regulatory environment for insurance in India
  3. Overall market conditions and sector performance

As Canara HSBC Life Insurance steps into the public market, all eyes will be on its performance and the value it brings to shareholders in the long term.

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Canara HSBC Life IPO Allotment Finalizes Today, Listing Set for October 17

1 min read     Updated on 15 Oct 2025, 08:17 AM
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Reviewed by
Riya DeyScanX News Team
Overview

Canara HSBC Life Insurance Company's IPO share allotment has been finalized. The IPO, which ran from October 10-14, was oversubscribed 2.30 times overall. QIBs showed strong interest with 7.05 times subscription, while retail and non-institutional investors were undersubscribed. The company is set to list on BSE and NSE on October 17, 2023. The IPO's pricing implies a P/E multiple of 86x, and the current grey market premium is at 0%.

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*this image is generated using AI for illustrative purposes only.

Canara HSBC Life Insurance Company's Initial Public Offering (IPO) reaches a crucial milestone today with the finalization of share allotment. The company, a joint venture between Canara Bank and HSBC Insurance, is set to make its debut on the Indian stock exchanges next week.

IPO Timeline and Subscription Details

The IPO, which ran from October 10-14, was an offer for sale of 23.75 crore shares. Here's a breakdown of the key dates and subscription figures:

Event Date
IPO Subscription Period October 10-14, 2023
Allotment Finalization October 15, 2023
Refunds to Unallotted Applicants October 16, 2023
Credit of Shares to Demat Accounts October 16, 2023
Listing on BSE and NSE October 17, 2023

The IPO garnered an overall subscription of 2.30 times, with varying interest across investor categories:

Investor Category Subscription Rate
Qualified Institutional Buyers (QIBs) 7.05 times
Retail Investors 0.42 times
Non-Institutional Investors 0.33 times

Checking Allotment Status

Applicants can verify their allotment status through:

  1. The registrar's website: KFin Technologies
  2. The BSE website

Company Overview

Canara HSBC Life Insurance operates through an extensive bancassurance network of over 15,700 branches, leveraging its promoters' reach.

Financial Highlights

Recent financial performance of Canara HSBC Life:

Metric Value Change
Revenue 234.00 crore -3%
Net Profit 117.00 crore +3%
Return on Equity 7.70% -

IPO Valuation and Market Sentiment

The IPO's pricing implies a price-to-earnings (P/E) multiple of 86x based on current earnings. The grey market premium currently stands at 0%, suggesting limited expectations for listing gains.

Investors should note that the retail and non-institutional segments showed relatively low subscription rates, which could indicate cautious sentiment among these investor groups. The strong response from qualified institutional buyers, however, might reflect a more positive long-term outlook on the company's prospects.

As always, potential investors are advised to conduct their own research and consider their risk appetite before making investment decisions.

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