Overview
- The IPO is structured entirely as an offer for sale, with Canara Bank, HSBC Insurance (Asia-Pacific), and Punjab National Bank selling stakes amounting to 237.5 million equity shares.
- Canara Bank will sell up to 137.75 million shares, HSBC Insurance (Asia-Pacific) up to 4.75 million shares, and Punjab National Bank up to 95 million shares.
- Canara HSBC Life Insurance reported a 24.3% rise in profit after tax to ₹113 crore in FY24, showcasing robust financial growth.
- The company ranks third in assets under management among public-sector bank-promoted life insurers in India and is within the top five by lives covered in FY24.
- The IPO will be managed by SBI Capital Markets, BNP Paribas, HSBC Securities & Capital Markets (India), JM Financial, and Motilal Oswal, with KFin Technologies as registrar.