Canara HSBC Life Insurance files papers for IPO

BUSINESS

Canara HSBC Life Insurance files papers for IPO

AIMPWA

April 29, 2025

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Canara HSBC Life Insurance Company is promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings, a member of The Hongkong and Shanghai Banking Corporation group

Canara HSBC Life Insurance Company has filed Draft Red Herring Prospectus with SEBI for an Initial Public Offering.

The issue consists of offer for sale of up to 23.75 crore equity shares including up to 13.77 crore shares by Canara Bank and 47.50 lakh equity shares by HSBC Insurance (Asia-Pacific) Holdings and 9.50 crore equity shares by Punjab National Bank.

Canara HSBC Life Insurance Company is promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings, a member of The Hongkong and Shanghai Banking Corporation group.

Incorporated in 2007, Canara HSBC Life Insurance Company’s net profit increased at a CAGR of 233 per cent from ₹10 crore in FY22 to ₹113 crore in FY24. In nine months ended last December, it was at ₹85 crore.

Post-IPO, the shares will be listed and traded on NSE and BSE.

SBI Capital Markets, BNP Paribas , HSBC Securities & Capital Markets, JM Financial and Motilal Oswal Investment Advisors are the Book Running Lead Managers to the issue.

Published on April 29, 2025

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