Canara HSBC Life Insurance Co IPO is a book build issue of ₹2,517.50 crore through a book-building process. The issue is entirely an offer for sale, comprising 23.75 crore shares.
The IPO will open for subscription on October 10, 2025, and close on October 14, 2025. The allotment is expected to be finalised on October 15, 2025, with listing on BSE and NSE anticipated on October 17, 2025.
The price band for the IPO is fixed between ₹100 and ₹106 per share. The minimum application lot for retail investors is 140 shares, requiring an investment of ₹14,840 at the upper price band. For sNII (semi-institutional investors), the lot size is 14 lots (1,960 shares), totaling ₹2,07,760, while for bNII (corporate/qualified institutional investors), the lot size is 68 lots (9,520 shares), amounting to ₹10,09,120.
SBI Capital Markets Ltd is the book running lead manager and Kfin Technologies Ltd is the registrar of the issue. Refer to Canara HSBC Life Insurance Co IPO RHP for complete details.
Canara HSBC Life Insurance Co IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- To conduct the Offer for Sale of up to 237,500,000 equity shares with a face value of ₹10 each by the selling shareholders and
- To realise the advantages of having the equity shares listed on the stock exchange
About Canara HSBC Life Insurance Co Limited
Canara HSBC Life Insurance Co. Ltd. is a private life insurer in India, promoted by Canara Bank, which ranks as the fourth-largest public sector bank in India by total assets as of March 31, 2025, according to the CRISIL Report, and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) group.
The global reputation of HSBC as a financial institution adds credibility and brand value to the company. According to the CRISIL Report, the individual weighted premium income (WPI) collected by Canara HSBC Life Insurance grew the third highest among bank-led insurers between Fiscal 2022 and 2025 and recorded the second highest year-on-year growth in its peer set.
The company actively engages with customers through digital channels, including its website and mobile application, complemented by strategic alliances with brokers and corporate agents, enhancing customer choice and reach across India.
Canara HSBC Life Insurance also operates a direct sales model supported by a dedicated field force, ensuring personalized service and strong customer engagement. Additionally, through its defense channel, the company focuses on armed forces personnel and their families, offering tailored insurance products designed to meet their unique needs and provide financial security.
Canara HSBC Life Insurance offers a comprehensive range of life insurance products for both individual and group customers, including savings and endowment plans, term (pure protection) plans, retirement solutions, group credit life and protection plans, and the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
As of the date of its Red Herring Prospectus, the company’s portfolio comprises 20 individual products, seven group products, and two optional rider benefits, alongside policies under the PMJJBY scheme. Its products provide comprehensive protection, guaranteed income, and market-linked growth features, along with multiple payout choices, investment management flexibility, and customisation through a wide range of plans and funds, including limited pay annuity plans and over ten fund choices in unit-linked products.
The company’s product suite is designed to address customer needs at every stage of life, demonstrating a commitment to customer centricity, operational efficiency, and collaboration with a broad network of distribution partners.
The offerings also allow the company to adapt to regulatory changes and minimize concentration risk in specific product categories. Between Fiscal 2023 and Fiscal 2025, its aggregated annual premium equivalent (APE) contributions by product segment were: participating products 9.32%, non-participating savings products 32.00%, non-participating protection products 4.23%, unit-linked products 42.53%, annuity plans 9.07%, and group savings (fund-based) plans 2.85%.
Industry Outlook
- The United States remains the largest life insurance market globally with a 24.7% share of world life insurance premiums in CY 2023, followed by China at 13.5%, highlighting the dominance of mature and rapidly growing markets.
- India’s life insurance sector accounts for a modest 3.5% of global premiums in CY 2023, indicating significant room for growth compared with emerging peers like Brazil (1.5%), South Africa (1.2%), and Thailand (0.5%).
- The IRDAI’s “Insurance for All by 2047” initiative, launched in November 2022, aims to expand life, health, and property insurance coverage across the country, supporting long-term growth and increased insurance penetration in India.
How To Apply for the Canara HSBC Life Insurance Co IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Canara HSBC Life Insurance Co IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Canara HSBC Life Insurance Co IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Canara HSBC Life Insurance Co Limited
Registered office: 8 th Floor, Unit No. 808- 814, Ambadeep Building, Kasturba Gandhi Marg, Connaught Place, Central Delhi, New Delhi, 110001
Phone: +91 01244506761
Email: investor@canarahsbclife.in
Canara HSBC Life Insurance Co IPO Reservation
|
Application Category |
Maximum Bidding Limits |
|
Only RII |
Up to Rs 2 Lakhs |
|
Only sNII |
Rs 2 Lakhs to Rs 10 Lakhs |
|
Only bNII |
Rs 10 Lakhs to NII Reservation Portion |
|
Employee + RII/NII |
· Employee limit: (In certain cases, employees are given discount if bidding amount is upto Rs. 2 lakhs) · If applying as RII: Upto Rs. 2 lakhs · If applying as NII: sNII > Rs. 2 lakhs and upto Rs. 10 lakhs and bNII > Rs. 10 lakhs |
Canara HSBC Life Insurance Co IPO Lot Size Details
|
Application |
Lots |
Shares |
Amount |
|
Individual investors (Retail) (Min) |
1 |
140 |
₹14,840 |
|
Individual investors (Retail) (Max) |
13 |
1,820 |
₹1,92,920 |
|
HNI (Min) |
14 |
1,960 |
₹2,07,760 |
Canara HSBC Life Insurance Co IPO Promoter Holding
Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited are the company promoters.
|
Share Holding Pre-Issue |
62.93% |
|
Share Holding Post Issue  |
NA |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Canara HSBC Life Insurance Co IPO
|
KPI |
Value |
|
Total Cost Ratio (%) |
19.59 |
|
AUM (in ₹ million) |
436,394.98 |
|
Solvency Ratio (%) |
200.42 |
|
Operating RoEV (%) |
15.70 |
|
Claim Settlement Ratio (%) |
99.38 |
Canara HSBC Life Insurance Co IPO Prospectus
Canara HSBC Life Insurance Co IPO Registrar and Lead Managers
Canara HSBC Life Insurance Co IPO Lead Managers
- SBI Capital Markets Ltd
- BNP Paribas
- HSBC Securities & Capital Markets (India) Pvt. Ltd
- JM Financial Ltd
- Motilal Oswal Investment Advisors Ltd
Registrar for Canara HSBC Life Insurance Co IPO
Kfin Technologies Ltd
- Phone: 04067162222, 04079611000
- Email: ris@kfintech.com
- Website: https://ipostatus.kfintech.com/
Financial Performance of Canara HSBC Life Insurance Co Limited
| Particulars | June 30, 2025 | March 31, 2025 |
|---|---|---|
| Net Worth (₹ million) | 15,402.76 | 15,168.63 |
| Revenue (₹ million) | 17,472.31 | 80,274.62 |
| Profit After Tax (₹ million) | 234.13 | 1,169.81 |
| Basic EPS (₹) | 0.25 | 1.23 |
| Net Asset Value per Share (₹) | 16.21 | 15.97 |
Know before investing
Strengths
5Promoted by Canara Bank (51%) and HSBC Insurance (26%), enhancing credibility and brand recognition.
High NPS (75) and awards like ‘Most Amiable Insurer’ reflect strong customer trust.
Extensive reach through bancassurance, brokers, direct sales, and digital platforms nationwide.
Steady growth in profits, AUM (CAGR 16.74%), and individual weighted premium income (CAGR 14.65%).
Balanced mix of protection, savings, annuity, unit-linked, and group products for varied customer needs.
Risks
5Termination or adverse changes in bancassurance agreements, especially with Canara Bank or HSBC India, may impact business and financials.
Adverse persistency metrics or concentrated policy surrenders could materially affect profitability and cash flows.
Regulatory changes or non-compliance with IRDAI requirements could disrupt operations and lead to penalties.
Inability to maintain historical growth rates or implement growth strategies may limit future business expansion.
High competition in the Indian life insurance sector may affect market share and profitability.
Canara HSBC Life Insurance Co Limited Peer Comparison
| Company | Revenue from Operations (₹ in Lakhs) (March 31, 2025) | Basic EPS (₹) | P/E Ratio | Return on Net Worth (%) |
|---|---|---|---|---|
| Canara HSBC Life Insurance Co. Ltd | 8,027,462.00 | 1.23 | NA | 7.97 |
| SBI Life Insurance Co. Ltd | 84,984,630.00 | 24.09 | 74.16 | 15.13 |
| HDFC Life Insurance Co. Ltd | 71,075,100.00 | 8.41 | 90.27 | 11.75 |
| ICICI Prudential Life Insurance Co. Ltd | 48,950,710.00 | 8.21 | 73.66 | 10.34 |
