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Canara HSBC Life Insurance Company Limited is a private life insurer in India, promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited. The company has demonstrated strong growth, with its individual weighted premium income growing third highest among bank-led insurers from Fiscal 2022 to 2025. As of March 31, 2025, it held a market share of 1.81% in terms of individual weighted premium income, leveraging its strong parentage and brand value.
Opening Date
Oct 10, 2025
Closing Date
Oct 14, 2025
Listing Date
Oct 17, 2025
IPO Type
Mainboard
IPO Status
Closed
Issue Size
2517.5 Cr
Fresh Issue
—
Offer for Sale
2517.5 Cr
Price Band
₹100 - ₹106
Lot Size
140
The objectives of the Offer are to carry out the Offer for Sale by the Selling Shareholders and to achieve the benefits of listing the Equity Shares on the Stock Exchanges.
To carry out the Offer for Sale of up to 237,500,000 Equity Shares, allowing the Selling Shareholders to monetize a portion of their investment.
To achieve the benefits of listing the Equity Shares on the Stock Exchanges, which is expected to enhance the company's visibility and brand image.
To provide a public market and liquidity for the Equity Shares in India for existing shareholders and the general public.
P/E Ratio
—
EPS
—
ROE
7.71%
ROCE
7.71%
RONW
7.97%
Debt to Equity Ratio
—
PAT Margin
—
EBITDA Margin
—
P/B
6.64
Strong parentage from Canara Bank and HSBC, leading to high brand equity and customer trust.
Extensive multi-channel distribution network, particularly a strong bancassurance channel with access to over 15,700 branches.
Consistent profitability with strong AUM growth at a CAGR of 16.74% from Fiscal 2023 to 2025 and a high solvency ratio.
Experienced management team with long tenure, contributing to operational stability and institutional knowledge.
Heavy reliance on bancassurance channels, with Canara Bank and HSBC India contributing over 80% of new business premium in Fiscal 2025.
Value of New Business (VNB) margin is lower than that of some industry peers, indicating a potential competitive disadvantage in profitability.
Geographical concentration of new business premium, with the top five states accounting for a significant portion of individual product sales.
History of negative cash flows from operating activities, which could impact liquidity and operational flexibility.
Low insurance penetration and density in India compared to other Asian countries, indicating significant untapped market potential.
India's large and young population is continuously expanding the insurable base.
Increasing digitization and fintech adoption in India provide new avenues for product distribution and enhanced customer engagement.
A growing trend of household savings shifting from physical to financial assets, which can be channeled into insurance products.
Intense competition from a large number of public and private sector life insurers, including other major bank-led players.
A complex and evolving regulatory environment that could introduce changes affecting solvency norms, commission structures, and product guidelines.
High sensitivity to interest rate fluctuations, which can adversely impact investment returns and the profitability of guaranteed return products.
Changes in tax laws that could reduce the tax-saving appeal of insurance products, potentially impacting customer demand.