Canara HSBC Life IPO sails through on final day; QIBs step in, GMP flat

Canara HSBC Life Insurance IPO received bids for 178.92 million equity shares against 166.7 million shares on offer, translating to a subscription of 1.07 per cent

Canara HSBC Life Insurance IPO: The initial public offering (IPO) of Canara HSBC Life Insurance Company (CHLICL) managed to sail through on the final day of bidding, largely driven by strong demand from Qualified Institutional Buyers (QIBs). The three-day subscription window, which is set to close on Tuesday, October 14, 2025, saw a subdued response overall but picked up momentum towards the end, helping the issue cross the finish line.

 

As per the latest data from the National Stock Exchange (NSE), Canara HSBC's IPO received bids for 178.92 million equity shares against 166.7 million shares on offer, translating to a subscription of 1.07 per cent as of 1:30 PM on Tuesday.

 

On the last day, Qualified Institutional Buyers (QIBs) portion was booked 2.95 times of their allotted quota. Retail investors followed with 34 per cent subscription, while the portion reserved for Non-institutional investors (NIIs) was subscribed to 24 per cent.

Canara HSBC Life Insurance IPO grey market premium (GMP)

According to sources tracking unofficial markets, Canara HSBC Life shares were trading at around ₹107 per share, reflecting a grey market premium of ₹1 per share, or 1 per cent over the upper end of the issue price of ₹106.  Check Rubicon Research IPO allotment status

Canara HSBC Life Insurance IPO review

Analysts at Choice Broking have assigned a 'Subscribe for Long term' rating to the issue, saying that the company benefits from strong brand equity, institutional backing, and operational credibility. Geojit Investments also recommended investors to 'Subscribe' to the issue from a medium to long-term investment horizon. 

Canara HSBC Life Insurance IPO details

Canara HSBC Life Insurance IPO comprises an entire offer for sale of 237.5 million shares worth nearly ₹2,517.5 crore. Canara HSBC IPO is available at a price band of ₹100 to ₹106 per share, with a lot size of 140 shares. Thus, investors willing to invest their money in the Canara HSBC IPO can bid for a minimum of 140 shares and in multiples thereof. A retail investor would require a minimum of ₹14,840 to bid for one lot of the Canara HSBC IPO.

 

As the public issue closes for subscription, the basis of allotment for Canara HSBC Life IPO shares is slated to be finalised on Wednesday, October 15. The successful allottees will receive the company’s shares in their demat accounts on Thursday, October 16. Shares of Canara HSBC are slated to list on BSE and NSE on Friday, October 17.

 

Canara HSBC Life, as outlined in its red herring prospectus (RHP), will not receive any proceeds from the OFS, and it will be given to selling shareholders.