India’s IPO market continues to witness strong participation, with several marquee companies accessing capital markets in 2025. Among them, Canara HSBC Life Insurance Company Ltd stands out as a private life insurance provider with strong backing from Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Ltd. The company is set to open its IPO on October 10, 2025, providing investors an opportunity to participate in one of the top private insurers in India.
About Canara HSBC Life Insurance Co. Ltd.
Incorporated in 2007, Canara HSBC Life Insurance Company Ltd offers a comprehensive suite of insurance solutions, including:
- Individual Life Insurance: Savings, Endowment, and Term Plans
- Group Insurance Solutions: Credit Life, Protection Plans
- Retirement & Pension Products
- Government Schemes: PMJJBY
- Digital & Embedded Insurance Products
The company has a portfolio of 20 individual products, 7 group products, and 2 optional riders, along with policies under Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY). It recorded the third-highest individual weighted premium income among bank-led insurers between FY2021–25.
Distribution Channels:
- Bancassurance: Canara Bank, HSBC, 8 Regional Rural Banks, Dhanlaxmi Bank (core channel, ~15,700 branches)
- Brokers & Corporate Agents
- Direct Sales & Digital Platforms
The partnership with Canara Bank alone provides access to 117 million customers through 9,849 branches (as of Mar 31, 2025).
Competitive Strengths:
- Trusted brand backed by established parentage
- Multi-channel distribution network with PAN-India presence
- Long-term value creation from consistent and profitable financial performance
- Diversified product portfolio
- Technology-enabled platform for automation and digital analytics
- Experienced management team
Canara HSBC Life Insurance IPO Details
The Canara HSBC Life Insurance IPO is a book building issue of ₹2,517.50 crore, entirely an Offer for Sale (OFS) of 23.75 crore shares. The IPO will be listed on BSE and NSE.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Oct 10, 2025 |
| IPO Close Date | Oct 14, 2025 |
| Tentative Allotment | Oct 15, 2025 |
| Initiation of Refunds | Oct 16, 2025 |
| Credit of Shares to Demat | Oct 16, 2025 |
| Tentative Listing Date | Oct 17, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Oct 14, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price Band | ₹100 – ₹106 per share |
| Lot Size | 140 shares |
| Total Issue Size | 23.75 crore shares (₹2,517.50 Cr) |
| Employee Discount | ₹10 per share |
| Issue Type | Bookbuilding IPO (Offer for Sale) |
| Shareholding Pre-Issue | 907.06 crore shares |
| Shareholding Post-Issue | 907.06 crore shares |
Investor Category Reservation:
- QIB: Not more than 50% of the net offer
- Retail: Not less than 35% of the net offer
- NII: Not less than 15% of the offer
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 140 | ₹14,840 |
| Retail (Max) | 13 | 1,820 | ₹1,92,920 |
| S-HNI (Min) | 14 | 1,960 | ₹2,07,760 |
| S-HNI (Max) | 67 | 9,380 | ₹9,94,280 |
| B-HNI (Min) | 68 | 9,520 | ₹10,09,120 |
Promoter Holding:
- Promoters: Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Ltd
- Pre-IPO: 62.93%
- Post-IPO: [Calculated based on equity dilution]
Book Running Lead Manager: SBI Capital Markets Ltd.
Registrar: KFin Technologies Ltd.
Canara HSBC Life Insurance Financials
Financial Highlights (₹ Crore):
| Period Ended | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 44,047.98 | 41,852.09 | 37,815.80 | 30,548.89 |
| Total Income | 42.35 | 234.01 | 240.88 | 261.59 |
| Profit After Tax | 23.41 | 116.98 | 113.32 | 91.19 |
| EBITDA | 31.28 | 149.91 | 146.56 | 118.82 |
| Net Worth | 1,540.28 | 1,516.86 | 1,418.88 | 1,353.07 |
| Reserves & Surplus | 590.28 | 566.86 | 468.88 | 403.07 |
Key Performance Indicators (FY2025):
| KPI | Value |
| ROE | 7.71% |
| RoNW | 7.97% |
Objects of the Issue
The IPO proceeds are proposed to be utilised as follows:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
| 1 | To carry out the Offer for Sale of up to 237,500,000 Equity Shares of face value of ₹10 each by the Selling Shareholders aggregating up to ₹[] million; and | |
| 2 | Achieve the benefits of listing the Equity Shares on the Stock Exchanges |
Canara HSBC Life IPO: Peer Comparison
Canara HSBC Life Insurance IPO can be compared with peers like HDFC Life Insurance Company Ltd, ICICI Prudential Life Insurance Company Ltd, SBI Life Insurance Company Ltd, Max Life Insurance Company Ltd, and Bajaj Allianz Life Insurance Company Ltd. Reviewing these companies helps investors gauge Canara HSBC Life’s position in the private life insurance sector and make informed decisions.
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Conclusion
Canara HSBC Life Insurance IPO provides investors an opportunity to invest in a leading private life insurer with a robust distribution network and strong parentage. The company demonstrates consistent performance and growth potential across individual, group, and retirement insurance segments. However, investors should consider sector-specific risks such as regulatory changes, macroeconomic conditions, and competitive pressures.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
