NEW DELHI: Canara HSBC Life Insurance Company Limited has successfully mobilised Rs 750.32 crore from 33 anchor investors, setting the stage for its upcoming initial public offering (IPO). The company allotted 7.07 crore equity shares to these investors at the upper end of its price band, Rs 106 per share.
The IPO’s price band has been fixed at Rs 100 to Rs 106 per equity share of a face value of Rs 10. The public offer will open for subscription on Friday, October 10, 2025, and close on Tuesday, October 14, 2025. According to the company’s filing, retail investors can bid for a minimum of 140 equity shares and in multiples thereof.
The anchor investor book saw strong participation from prominent domestic and foreign institutions. Leading the pack were funds from ICICI Prudential Mutual Fund and HDFC Mutual Fund. ICICI Prudential’s Banking and Financial Services Fund and Innovation Fund were the largest investors from the group, each allocated shares worth Rs 488 crore, constituting 6.50 percent of the total anchor portion.
Other significant subscribers included Mirae Asset ELSS Tax Saver Fund (5.94%), HDFC Trustee Company Ltd. for its Balanced Advantage Fund (7.47%), and a suite of funds from WhiteOak Capital.
A substantial 60.31 percent of the total anchor shares, amounting to 4.26 crore equity shares worth Rs 452.55 crore, were allotted to domestic mutual funds. These investments came through 18 different schemes from eight asset management companies, underscoring strong domestic institutional confidence in the insurance provider.
The list of book running lead managers (BRLMs) for the offer includes SBI Capital Markets Limited, BNP Paribas, HSBC Securities and Capital Markets (India) Private Limited, JM Financial Limited, and Motilal Oswal Investment Advisors Limited.
The successful closure of the anchor book is a key precursor to the public issue, often seen as an indicator of institutional appetite for the offering. The funds raised will contribute to the company’s capital base as it moves forward with its listing plans.
