Canara HSBC Life Insurance Ltd. is set to launch its initial public offering on Oct. 10, 2025, to raise up to Rs 2,517 crore, as per the red herring prospectus. The company has set a price band of Rs 100-106 per share for its three-day IPO. Canara HSBC Life Insurance will include 23.7 crore offer-for-sale. The minimum application lot size is 140 shares.
The proceeds from the OFS will go to the selling shareholders and not to Canara HSBC Life Insurance. Canara Bank, HSBC Insurance (Asia-Pacific) Holding Ltd. were the promoters offloading stake and Punjab National Bank is the investor selling shareholder.
SBI Capital Markets Ltd., PNB Paribas, HSBC Securities & Capital Markets India Pvt., JM Financial Ltd. and Motilal Oswal Investment Advisors Ltd. are the lead managers for the deal.
The lot size for an application is 13 shares, which means the minimum amount of investment required by a retail investor is Rs 14,840 based on the upper price band. The allotment of shares to IPO investors will be finalised tentatively on Oct. 15, and the credit to the demat account will be done on Oct. 16. LG will list on the BSE and NSE on Oct. 17.
