Canara HSBC Life Insurance IPO subscribed 31% so far on closing day

The ₹2,517-crore IPO of Canara HSBC Life Insurance Company is seeing subdued investor participation on its final day, with overall subscription at just 31% by noon.  | Photo Credit: iStockphoto

The initial public offering of Canara HSBC Life Insurance Company is drawing to a close today, but the subscription numbers remain tepid with just 31 per cent overall subscription so far.

The IPO received bids for 5.24 crore equity shares against 16.67 crore shares of offer.

Among categories, qualified institutional buyers (QIBs) have bid 0.33 times at 12.15 pm, non-institutional investors (NIIs) 0.20 times and retail investors 0.33 times, while the employee portion showed strength at 1.51 times subscription.

The ₹2,517-crore IPO, which opened on October 10 and concludes today, is entirely an offer for sale (OFS) of 23.75 crore equity shares and carries a price band of ₹100 to ₹106 per share. The minimum application lot is 140 shares.

Ahead of the IPO, the company mobilised little over ₹750 crore from anchor investors by allotting 7.08 crore shares to 33 funds, including ICICI Prudential Mutual Fund (MF), HDFC MF, DSP MF, WhiteOak Capital, Mirae Asset MF, Allianz Global Investors Fund and Amundi Funds.

Selling shareholders include Canara Bank, HSBC Insurance (Asia-Pacific) and Punjab National Bank.

Investor sentiment appears cautious. While analysts generally view the company’s fundamentals and promoter backing favourably, the weak demand at this stage signals investors are taking a wait-and-watch approach.

The allotment will happen on October 15, 2025, and the listing will likely happen on October 16.

Published on October 14, 2025