Canara HSBC Life Insurance Company Limited

2.29x

subscribed

Canara HSBC Life Insurance Company Limited

Insurance
listed
₹14,000Min. investment
  1. Pre-apply
    8 Oct
  2. Bid start
    10 Oct
  3. Bid end
    14 Oct
  4. Allotment
    15 Oct
  5. Release of funds
    16 Oct
  6. Demat transfer
    16 Oct
  7. Listing
    17 Oct

About Canara HSBC Life Insurance Company Limited

SectorInsurance
Price range₹100 – ₹106
IPO type
Regular
Lot size140 shares
Issue size₹2,517Cr
Red Herring Prospectus
Read
Market Cap
₹10,070CrLower than sector avg
RevenueApr 2024 - Mar 2025
₹8,027.46CrLower than sector avg
Growth rate3Y CAGR
5.61%Higher than sector avg

Canara HSBC Life Insurance Company Limited IPO Overview

Canara HSBC Life Insurance Company Limited IPO date

Canara HSBC Life Insurance Company Limited IPO will open for subscription on October 10, 2025, and the closing date for the IPO is October 14, 2025. After this, investors are expected to be updated about the allotment status on October 15, 2025.

Investors who have been allotted shares can expect them to be credited to their demat account on October 16, 2025. The shares will be listed on the NSE and the BSE on Friday, October 17, 2025.

Canara HSBC Life Insurance Limited IPO price band

The IPO includes an offer for sale. The IPO price band has been set between ₹100 to ₹106 per share. Interested investors can choose a price within this band to apply for the IPO. The IPO is a book-building issue, comprising an offer for sale of ₹2,517.50 crore only.

Canara HSBC Life Insurance IPO listing price will be determined on October 17, 2025. The listing price is the price at which a company’s shares debut on the stock exchanges.

Canara HSBC Life Insurance Limited IPO lot size

Canara HSBC Life Insurance IPO details have been declared. The minimum lot size for an application is 140 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹2,517.50 crore.

Checklist

Quality analysis
Revenue growth
Company valuation
Earnings expansion
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Revenue
Higher revenue means strong sales and good market demand
This IPO
₹8,027.46Cr
This sector
₹83,517.54Cr
Compare with companies
3Y growth
Strong 3-year growth shows consistent progress and potential
This IPO
5.61%
This sector
0.04%
Compare with companies
PAT
Higher PAT means strong profitability and efficient cost management
This IPO
₹116.98Cr
This sector
₹4,173.52Cr
Compare with companies
Market cap
Higher market cap means strong confidence but may suggest overvaluation
This IPO
₹10,070Cr
This sector
₹1,27,279.39Cr
Compare with companies
P/E ratio
Lower ratio usually means stock is undervalued
This IPO
86.18
This sector
51.45
Compare with companies

Objectives

Carry out the offer for sale
The IPO is a complete offer-for-sale (OFS). Net IPO proceeds will go to selling shareholders.
Listing on stock exchanges
The company want to achieve the benefits of listing its shares on the stock exchanges.

Strength and Weakness

Strong parentage and trusted brand equity

Promoted by Canara Bank (51%) and HSBC Insurance (Asia-Pacific) Holdings (26%), the company benefits from the credibility, vast network, and financial expertise of two globally recognised financial institutions. Together, Canara Bank and HSBC India contributed 82.17% of the company’s new business premium as of June 2025. Customer focus has driven its NPS up from 50 in FY23 to 75, while 13th-month persistency ratios improved from 75.33% in FY23 to 84.25% in Q1FY26, which is among the highest gains among bank-led insurers.

Multi-channel distribution network

The company operates a diversified distribution model with bancassurance, brokers, and direct sales, ensuring broad market reach and cost efficiency. Its strategic tie-ups with Canara Bank, HSBC, seven regional rural banks, and other partners provide access to 15,700+ branches and 11.7 crore customers nationwide.

Diversified product portfolio

The insurer offers 20 individual and 7 group products, and 2 optional rider benefits, covering protection, savings, annuity, and ULIPs. It held the third-highest share of non-linked non-participating premiums and the second-highest average premium size among PSU-led life insurers in FY25. The company’s sum assured grew at a CAGR of 19% from FY23–25. Claims settlement ratio improved to 99.38%, with average settlement time down to 5.33 days in Q1FY26.

Technology-driven operations

The company has heavily invested in automation and digital analytics, with IT expenses forming 1.16% of FY25 revenue, among the highest in its peer group. 87.08% of service requests were handled digitally in FY25, reducing turnaround times for non-financial services to one day.

About Canara HSBC Life Insurance Company Limited

Incorporated in 2007, Canara HSBC Life Insurance is a private life insurer in India, jointly promoted by Canara Bank, India’s fourth largest public sector bank, and HSBC Insurance (Asia-Pacific) Holdings Limited, part of the globally recognised HSBC Group. Over the years, the company has grown into a prominent bank-led private player in the Indian life insurance sector.
According to the CRISIL report, the company’s individual weighted premium income (“WPI”) collected grew the third-highest amongst bank-led insurers between FY22 and FY25, while it had the third-highest assets under management amongst public sector bank-promoted life insurers, as at March 31, 2025.
Canara HSBC Life Insurance has bancassurance tie-ups with Canara Bank, HSBC India, and seven associate regional rural banks that provide it with a wide network of more than 15,700 branches in India. Bancassurance remains the business driver accounting for 92.33% of the company's new business premium as of June 30, 2025. The company has a multi-channel distribution network of brokers, corporate agents, and direct sales, which includes sales on digital platforms.
The company’s offerings primarily include saving and endowment plans, term (pure protection) plans, retirement solutions, group credit life and protection plans. It has a product portfolio comprising 20 individual products, 7 group products, and 2 optional rider benefits. These products have comprehensive protection, guaranteed income and market-linked growth features. Product mix during FY25 comprised 53.68% unit-linked (ULIP), 20.04% non-participating savings, 8.69% participating, and 13.11% annuity business, revealing strategic diversification across the customer base.
The company also engages in social insurance under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). Canara HSBC Life's business model has been driven by digital transformation. Over 99.70% of policy requests were digitally processed as of June 30, 2025, of which 67% utilised straight-through processing (fully automated issue without manual intervention). The 13th-month persistency ratio stood at 84.25% for Q1FY26, improving by over 900 bps over FY23, while the 61st-month persistency ratio increased to 58.20%.
Canara HSBC Life's technology-based solutions include the use of AI, predictive analytics, and automation in customer acquisition, underwriting, and renewal. The company has developed solutions like 'Compass' for sales management and in-built predictive models for early claims identification and customer retention. These technologies have enhanced operating efficiency, wherein 86.56% of service requests and 80.83% of communications are now processed through digital interfaces in Q1FY26.
The total premium for life insurers is expected to log 8% to 10% CAGR over the next 4 years ending fiscal 2028, while bank-led insurers are expected to grow faster at 10% to 12% CAGR over the same period in the Indian Life Insurance Sector. Canara HSBC is well-positioned to benefit from this growth, given its strong bancassurance network covering 15,700+ branches and access to 11.7 crore banking customers through Canara Bank, HSBC India, and regional rural banks, with over 90% of new business premiums sourced via bancassurance, which positions the company to effectively reach India’s expanding young and insurable population.
The company is aiming to enhance penetration in its existing distribution network, diversify its revenue stream. To promote rural insurance products, the company is actively collaborating with local non-government organisations. Additionally, it continues to leverage technology and analytics to enhance productivity and improve consumer experience.
Now, Canara HSBC Life Insurance is launching its initial public offering (IPO), which is a complete offer for sale of ₹2,517.50. Its shares will be listed on the NSE and BSE.

IPO Analysis

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IPO REVIEW
Canara HSBC Life Insurance Company Limited
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IPO Subscription Status

Date
QIB
NII
Retail
Total
10-Oct-25
0.0 times (X)
0.05 times (X)
0.14 times (X)
0.09 times (X)
13-Oct-25
0.02X
0.14X
0.28X
0.27X
14-Oct-25
5.91X
0.31X
0.41X
2.29X

Latest News on IPO

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Canara HSBC Life IPO: The proposed initial share sale will be exclusively an offer for sale of up to 237,500,000 shares. Under the OFS, Canara Bank, HSBC Insurance (Asia-Pacific) Holdings Limited, and Punjab National Bank will offload their stake.

2 min read

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The ₹2,517.50 crore initial share sale is solely an offer for sale of 237,500,000 shares by the promoters, Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Ltd, and the investor, Punjab National Bank.

2 min read

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Canara Bank said on December 5 that it has received approval from the Reserve Bank of India (RBI) to divest its equity stake in two subsidiaries Canara Robeco Asset Management Company (AMC) and Canara HSBC Life Insurance Company via IPOs. The divestments will involve a 13 percent stake in Canara Robeco AMC and a 14.5% stake in Canara HSBC Life Insurance.
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Canara HSBC Life Insurance IPO: The ₹2,517.50 crore initial share sale is purely an offer for sale (OFS) of 23.75 crore equity shares by promoters Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Ltd and investor Punjab National Bank.

3 min read

news logo
Canara HSBC Life Insurance IPO: The ₹2,517.50 crore public offering, with a price band of ₹100 to ₹106 per share, is a complete offer for sale (OFS) of 23.75 crore shares by promoters Canara Bank and HSBC Insurance (Asia-Pacific) Holdings and investor Punjab National Bank.

3 min read

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Canara HSBC Life Insurance IPO allotment: The insurer had fixed a price band of ₹100-₹106 per share for its IPO, which was exclusively an offer for sale of ₹2,517.5 crore.

3 min read

Frequently asked questions

How to invest in the IPO?

Investors can apply for the IPO through their Demat account via the stock exchange or through their broker.

What is the issue size of Canara HSBC Life Insurance Company Limited ?

The issue size of the Canara HSBC Life Insurance Company Limited is 2517 Cr.

What is 'pre-apply' for Canara HSBC Life Insurance Company Limited ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Which exchanges will Canara HSBC Life Insurance Company Limited shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.