Canara HSBC Life Rs100–106 OFS IPO Oct 10–14

Canara HSBC Life Insurance, a joint venture of Canara Bank, HSBC Insurance and Punjab National Bank, is set to launch a full offer-for-sale of up to 23.75 crore equity shares from October 10–14, 2025, with anchor bidding on October 9 and listing on BSE/NSE expected on October 17. The price band is fixed at Rs 100–106 per share, implying proceeds to selling shareholders of about Rs 2,516–2,517.5 crore and an implied valuation near Rs 10,000 crore at the top of the band; the company will not receive fresh capital from the OFS. Selling shareholders are Canara Bank (about 13.77 crore shares), Punjab National Bank (about 9.5 crore shares) and HSBC Insurance (Asia‑Pacific) Holdings (about 47.5 lakh shares). The issue is allocated 50% to qualified institutional buyers, 35% to retail investors and 15% to non-institutional investors, with a minimum bid lot of 140 shares and an employee reservation of up to 15.5 lakh shares carrying a Rs 10 per share discount. At the upper band the share price implies a price-to-earnings multiple of roughly 81.3x, slightly above the industry average.