Canara HSBC Life Insurance IPO Dates Announced: Check Opening & Closing Schedule

On October 10, Canara HSBC Life Insurance Company will make its first public offering. On October 14, the initial public offering (IPO), which would be an offer-for-sale (OFS) of 23.75 crore shares, will close. A day before the debut, the company will provide anchor investors a portion of the IPO shares.

Soon, the price range that has been approved by regulators to start the public offering will be revealed. Promoters Canara Bank and HSBC Insurance will sell off a portion of their holdings under the OFS, while investor PNB will also sell its shares.

Financial Dynamics of Canara HSBC Life Insurance

From INR 91.2 crore in fiscal 2023 to Rs 117 crore in fiscal 2025, the profit after tax grew at a compound annual growth rate (CAGR) of 13.26%. It was INR 23.4 crore in the three months that ended in June 2025. Additionally, as of FY25, the embedded value had grown from INR 4272 crore at the end of FY23 to Rs 6111 crore. With a solvency ratio of 200.42% as of June 2025, beyond the required threshold of 150%, Canara HSBC is financially well-capitalised.

As evidence of its broad reach and the trust that clients have in us for their life insurance needs, the company has so far covered 10.51 million lives. The issue’s book running lead managers are SBI Capital Markets, BNP Paribas, HSBC Securities and Capital Markets (India), JM Financial, and Motilal Oswal Investment Advisors.

About Canara HSBC Life Insurance and its Operations

Promoted by Canara Bank, HSBC Insurance (Asia-Pacific) Holdings, a part of the Hongkong and Shanghai Banking Corporation Ltd (HSBC) group, and Punjab National Bank (PNB), another state-owned lender, Canara HSBC Life Insurance Company is a three-way partnership.

As of March 31, 2024, the business ranked third among led life insurers promoted by the public sector in terms of assets under management (AUM). Canara HSBC Life Insurance Company was founded in 2007 and has since developed into a major bank-led private participant in the Indian life insurance market.

According to the number of lives covered for Fiscal 2024, it is the second-largest public sector bank-led life insurer in India. According to the insurer’s DRHP, the company’s Annualised Premium Equivalent (APE) has continuously increased, reflecting efforts to broaden its offerings and boost its market presence.