IPO Watch News: Canara HSBC Life Insurance IPO to Open on October 10: Key Details You Should Know
New Delhi: Canara HSBC Life Insurance Company has announced the launch of its Initial Public Offering (IPO), set to open for public subscription on October 10, 2025, and close on October 14, 2025. The IPO will consist entirely of an Offer for Sale (OFS), comprising 23.75 crore equity shares, with a portion reserved for anchor investors, a day before the opening.
The price band for the issue, which has received SEBI’s regulatory approval, will be announced shortly. Promoters Canara Bank and HSBC Insurance will dilute part of their holdings, along with investor Punjab National Bank (PNB).
Company Background and Market Standing
Jointly promoted by Canara Bank and HSBC Insurance, Canara HSBC Life Insurance has grown as one of India’s leading private life insurers. According to a Crisil report, the company ranks third among bank-led insurers in terms of individual Weighted Premium Income (WPI) growth between FY22 and FY25.
Its Annualised Premium Equivalent (APE) and diversified product portfolio reflect consistent expansion and customer retention efforts.
Financial Highlights
The insurer reported a profit after tax (PAT) of ₹117 crore in FY25, up from ₹91.2 crore in FY23 — a CAGR of 13.26%. Its embedded value surged from ₹4,272 crore in FY23 to ₹6,111 crore in FY25, showcasing steady business growth and operational efficiency.
As of June 2025, the company maintained a solvency ratio of 200.42%, comfortably above the IRDAI-prescribed minimum of 150%, highlighting a strong balance sheet and prudent risk management. To date, Canara HSBC Life has provided life coverage to over 10.5 million policyholders across India.
IPO Lead Managers
The public issue will be managed by a consortium of top investment banks, including SBI Capital Markets, BNP Paribas, HSBC Securities and Capital Markets (India), JM Financial, and Motilal Oswal Investment Advisors
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