Canara HSBC Life Insurance Company Ltd has successfully raised over ₹750 crore from anchor investors, just a day ahead of its much-anticipated initial public offering (IPO) opening for public subscription.
According to a regulatory filing, the insurer garnered strong interest from a host of prominent institutional investors. These include ICICI Prudential Mutual Fund, HDFC Mutual Fund, DSP Mutual Fund, WhiteOak Capital, Mirae Asset MF, Allianz Global Investors Fund, Amundi Funds, Matthews India Fund, Tata MF, Motilal Oswal MF, and Societe Generale.
As part of the anchor placement, approximately 7.08 crore equity shares were allotted to 33 investment funds at ₹106 per share, amounting to a total transaction size of ₹750.32 crore.
Canara HSBC Life IPO, valued at ₹2,516 crore, will open for subscription on October 10 and close on October 14. The company has set a price band of ₹100 to ₹106 per share, aiming for a market capitalisation of nearly ₹10,000 crore at the upper price band.
The upcoming IPO is entirely an offer for sale (OFS), comprising 23.75 crore equity shares being offloaded by existing stakeholders. Canara Bank will divest 13.77 crore shares, HSBC Insurance (Asia-Pacific) Holdings will sell 47.5 lakh shares, and Punjab National Bank plans to offload 9.5 crore shares.
As this is a pure OFS, the company itself will not receive any proceeds from the issue; all funds will go to the selling shareholders.
In terms of allocation, 50% of the issue is reserved for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors. Bidding will be open in lots of 140 shares and in multiples thereafter.
Also Read: Canara HSBC Life IPO Set to Open on October 10: Key Risk Factors You Should Know
Established in 2007, Canara HSBC Life Insurance has grown into a significant player in India’s private life insurance space, leveraging a bank-led distribution model. Canara HSBC Life Insurance is a joint venture primarily backed by Canara Bank, which holds a 51% stake, and HSBC Insurance (Asia Pacific) Holdings, owning 26%.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Oct 10, 2025, 9:02 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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