National, October 7, 2025: Canara HSBC Life Insurance Company Limited (the “Company”) shall open its Bid/Offer in relation to its initial public offer of its equity shares of face value of ₹10 each (the “Equity Shares”) on Friday, October 10, 2025.
The initial public offering comprises an offer for sale of up to 237,500,000 Equity Shares by the Selling Shareholders.
The price band for the Offer is at ₹ 100 to ₹ 106 per Equity Share.
Bids can be made for a minimum of 140 Equity Shares and in multiples of 140 Equity Shares thereafter.
The offer for sale comprises up to 137,750,000 Equity Shares by Canara Bank, up to 4,750,000 Equity Shares by HSBC Insurance (Asia-Pacific) Holdings Limited and up to 95,000,000 Equity Shares by Punjab National Bank.
The Anchor Investor Bid/ Offer period shall be Thursday, October 9, 2025. The Bid/ Offer will open on Friday, October 10, 2025, and will close on Tuesday, October 14, 2025.
The Equity Shares are being offered pursuant to the red herring prospectus of the Company dated October 4, 2025 (the “RHP”) filed with the Registrar of Companies, Delhi and Haryana at New Delhi (“RoC”).
The Equity Shares offered pursuant to the RHP are proposed to be listed on BSE Limited and National Stock Exchange of India Limited.
SBI Capital Markets Limited, BNP Paribas, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited and Motilal Oswal Investment Advisors Limited are the book running lead managers to the Offer (the “BRLMs”).
The Offer is being made through the Book Building Process in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended, read with Regulation 31 of the SEBI ICDR Regulations and in compliance with Regulation 6(1) of the SEBI ICDR Regulations wherein, in terms of Regulation 32(1) of the SEBI ICDR Regulations, not more than 50% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs” and such portion, the “QIB Portion”), provided that the Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (the “Anchor Investor Portion”).
One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being receivedfrom the domestic Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the remaining QIB Portion (“Net QIB Portion”).
Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds, and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from the Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation will be added to the remaining QIB Portion for proportionate allocation to QIBs.
Further, not less than 15% of the Net Offer shall be available for allocation to Non-Institutional Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price, out of which (a) one-third of such portion shall be reserved for Bidders with application size of more than ₹200,000 and up to ₹1,000,000; and (b) two-thirds of such portion shall be reserved for Bidders with application size of more than ₹1,000,000, provided that the unsubscribed portion in either of such sub-categories may be allocated to Bidders in the other sub-category of Non-Institutional Bidders; and not less than 35% of the Net Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares will be allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price (net of Employee Discount, as applicable).
All potential Bidders (except Anchor Investors) are mandatorily required to utilize the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective ASBA accounts and UPI ID in case of UPI Bidders using the UPI Mechanism applicable, pursuant to which their corresponding Bid Amount will be blocked by the SCSBs or by the Sponsor Banks under the UPI Mechanism, as the case may be, to the extent of the respective Bid Amounts.Anchor Investors are not permitted to participate in the Offer through the ASBA process. For further details, see “Offer Procedure” on page 552 of the RHP.
Disclaimer:
Canara HSBC Life Insurance Company Limited is proposing, subject to, receipt of requisite approvals, market conditions and other considerations, to make an initial public offering of its Equity Shares and has filed the RHP with the RoC on October 4, 2025. The RHP is available on the website of the Company at www.canarahsbclife.com, SEBI at www.sebi.gov.in, as well as on the websites of the BRLMs, i.e., SBI Capital Markets Limited, BNP Paribas, HSBC Securities and Capital Markets (India) Private Limited(1), JM Financial Limited and Motilal Oswal Investment Advisors Limited at www.sbicaps.com, www.bnpparibas.co.in, www.business.hsbc.co.in, www.jmfl.com and www.motilaloswalgroup.com, respectively and the websites of National Stock Exchange of India Limited and BSE Limited at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, please see “Risk Factors” on page 36 of the RHP. Potential investors should not rely on the draft red herring prospectus dated April 28, 2025. The equity shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. Accordingly, the equity shares are only being offered and sold (i) within the United States to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act (“Rule 144A”) and referred to in the Draft Red Herring Prospectus as “U.S. QIBs”, for the avoidance of doubt, the term U.S. QIBs does not refer to a category of institutional investor defined under applicable Indian regulations and referred to in the Draft Red Herring Prospectus as “QIBs”) in one or more transactions exempt from the registration requirements of the U.S. Securities Act; and (ii) outside the United States in “offshore transactions”, as defined in, and in reliance on Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where those offers and sales are made. The equity shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.