Canara HSBC Life Insurance IPO

Canara HSBC Life Insurance Company launched its Rs 2,517.50 crore initial public offering (IPO) on October 10, 2025, which closed on October 14, 2025. The IPO was entirely an offer-for-sale (OFS) by its promoters Canara Bank and HSBC — HSBC Insurance (Asia-Pacific) Holdings, along with investor Punjab National Bank. The issue was fully subscribed by its closing day, with Qualified Institutional Buyers (QIBs) showing strong interest. The grey market premium (GMP) for the shares was initially around 9-10% but later declined to less than 1%. The company is well-capitalized with a strong growth trajectory in individual weighted premium income and profit after tax. Meritz Securities and other analysts provided positive outlooks, citing the company's strong promoter background, bancassurance network, and diversified product portfolio. The shares are scheduled to debut on BSE and National Stock Exchange of India on October 17, 2025.