Canara HSBC Life IPO: Price, Analysis, Allotment, And GMP

Canara HSBC Life IPO - Company Analysis

Canara HSBC Life IPO, a Mainboard IPO, is a bookbuilding issue of Rs. 2,517.50 Cr by Canara HSBC Life Insurance Co. Ltd., incorporated in 2007 is a collaborative initiative by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Ltd. 

As a life insurance company, Canara HSBC Life offers individual and group life insurance solutions that encompass term, savings, and retirement plans.   

The company has a strong bancassurance model, particularly with Canara Bank and Punjab National Bank, which allows HSBC Life Insurance Company to reach over 20,000 service and distribution channels across India.    

The company is focused on raising customer-driven innovation in cost optimisation and technology to increase persistency ratios and improve embedded value (EV) with regard to customer and company value.  

Canara HSBC Life IPO Details

The Canara HSBC Life Insurance Co. Ltd IPO open date is from Oct 10 to Oct 14, with IPO allotment on Oct 15, refund initiation on Oct 16, 2025.

The Rs. 2,517.50 Cr mainline IPO comprises a wholly offer for sale (OFS) of 23.75 crore shares.

The Canara HSBC Life IPO listing date might be on Friday, 17 October 2025, and it will be listed at the BSE and NSE. The Canara HSBC Life IPO price band is Rs. 100 to Rs. 106 for each Share. 

Events	Date
IPO Opening Date	October 10, 2025
IPO Closing Date	October 14, 2025
IPO Allotment Date	October 15, 2025 (Tentative)
Refund Initiation	October 16, 2025 (Tentative)
Tentative IPO Listing Date	October 17, 2025

 

Industry Outlook

If you want to apply for the IPO, click to open a Demat Account.

 

 

Company Financial 

(Amount in Mn)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	418,520.89	378,157.97	305,488.87
Total Income	80,274.62	71,287.01	71,973.83
Profit After Tax	1,169.81	1,133.17	911.94
EBITDA	1,499.10	1,465.64	1,188.18
Net Worth	15,168.63	14,188.82	13,530.65
Reserves & Surplus	5,668.63	4,688.82	4,030.65
AUM	411,664.11	373,804.41	302,044.00

 

Cash Flows

The cash flows for various activities are shown below:

(Amount in Mn)

Net Cash Flow In Multiple Activities	FY25	FY24	FY23
Net Cash Flow Operating Activities	12,078.07	23,101.12	25,924.96
Net Cash Flow Investing Activities	(7,144.65)	(20,447.40)	(25,761.01)
Net Cash Flow Financing Activities	(190.00)	(475.00)	(285.00)

 

Revenue Bifurcation 

(Source RHP)

The Objective of The Issue

• As the IPO is an Offer for Sale entirely, the company will not be receiving any proceeds from the issue.

Click to check the IPO application status.

Listed Peers of Canara HSBC Life Insurance Co. Ltd.

Company Name	Face Value (Rs. per Share)	EPS (Rs.)	P/E (x)
SBI Life Insurance Company Ltd.	10	24.09	74.16
HDFC Life Insurance Company Ltd.	10	8.41	90.27
ICICI Prudential Life Insurance Company Ltd.	10	8.21	73.66

 

Valuation

Metric	Value
RoNW	7.97%
ROE	7.71%

 

 

 

Evaluation of P/E Ratio

The company's IPO price of Rs. 106 corresponds to a P/E multiple of 86.17x based on FY25 EPS of Rs. 1.23.

Explore the Rubicon Research IPO.

IPO's Strengths

• Partnership with Canara Bank, PNB, and HSBC gives deep retail penetration.

• Includes term, endowment, pension, ULIP, and group business plans.

• Expected PAT CAGR of ~28% over FY23-FY25.

• Strong Solvency Ratio.

• Improved Persistency Ratio.
  
  

IPO Weaknesses

• No Fresh Issue In Canara HSBC IPO. Hence, the company won’t receive the IPO proceeds.

• Over 80% of business is routed through Canara and PNB.

• Heavy Competition with HDFC Life, SBI Life, LIC, and new-age insurers.

• Sensitive to IRDAI reforms, market-linked returns, and investment guidelines.

 

Canara HSBC Life IPO GMP 

Canara HSBC Life IPO GMP today has not started yet as of 07 Oct 2025, while writing this information. 

 

Canara HSBC Life Limited IPO Summary

IPO Opening & Closing Date	Oct 10, 2025 to Oct 14, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 100 to Rs. 106
Lot Size	140 Shares
Issue Size	23,75,00,000 Shares (Rs. 2,517.50 Cr)
Offer for Sale	23,75,00,000 Shares (Rs. 2,517.50 Cr)
Fresh Issue	-
Listing At	BSE, NSE
Issue Type	Book Built Issue IPO
Registrar	Kfin Technologies Ltd.

 

 

Canara HSBC Life IPO Lot Size

The Canara IPO allows retail investors to invest in a minimum and maximum of 1 Lot (140 Shares) amounting to Rs. 14840 and 13 Lots (1820 Shares) amounting to Rs. 192920, respectively, while for S-HNI investors, the minimum Lot is 14 (1960 Shares) amounting to Rs. 207760.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	13 Lots
SHNI (Minimum)	14 Lots
SHNI (Maximum)	67 Lots
BHNI (Minimum)	68 Lots

Canara HSBC Life IPO Reservation

Institutional Share Portion	50%
Retail Investors' Share Portion	35%
Non-Institutional Shares Portion	15%

 

Canara HSBC Life IPO Allotment Status

To check the Canara HSBC Life IPO allotment status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

 

Promoters And Management of Canara HSBC Life Insurance Co. Ltd.

• Canara Bank

• HSBC Insurance (Asia-Pacific) Holdings Limited.
  
  

Pre-Issue Promoter Shareholding	62.93%
Post-Issue Promoter Shareholding	-

 

Canara HSBC Life IPO Lead Managers

• SBI Capital Markets Limited.

• BNP Paribas.

• JM Financial Ltd.

• Motilal Oswal Investment Advisors Ltd.

• HSBC Securities & Capital Markets (India) Pvt Ltd.

 

Dividend Policy

The company has paid a dividend of Rs. 0.40, Rs. 0.40, and Rs. 0.30 per Share in the past three financial years.

Conclusion

Investors have a new opportunity for investment through Canara HSBC Life IPO as an opportunity to acquire shares in a successful private life insurer, particularly a company with a well-embedded bancassurance model and excellent corporate parents.

Investors should keep in mind that this is an OFS; therefore, no new capital will be accessible to the company.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Click Here To Stay Updated With The Upcoming IPOs.

DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.