Shares of Canara HSBC Life Insurance Company Limited are set to make their debut on the stock exchanges today, October 17, 2025, following the listing of Canara Robeco, which opened with around a 5% premium on Thursday. Investors are now keenly watching whether Canara HSBC Life can deliver a stronger performance on its first trading day.
Moderate Subscription Response
The company’s ₹2,517.50 crore initial public offering (IPO) received a moderate response from investors, being subscribed 2.30 times overall. The issue saw 0.42 times subscription in the retail segment, 7.05 times in the Qualified Institutional Buyers (QIB) category excluding anchor investors, and 0.33 times in the Non-Institutional Investors (NII) segment. The IPO allotment was finalised on October 15, 2025, and investors can check their allotment status on the BSE website or through the registrar, Kfin Technologies Ltd.
Grey Market Signals a Flat Debut
According to market observers, the grey market premium (GMP) for Canara HSBC Life stood at ₹3 as of 6:57 AM on October 17, 2025. With the issue price fixed at ₹106 per share, the estimated listing price is projected around ₹109 per share, indicating a modest 2.83% potential gain at listing.
Analyst View
A report by Geojit Investments highlighted that at the upper price band of ₹106, Canara HSBC Life trades at a P/EVPS of 1.65x (FY25) — about a 68% discount compared to major bank-led life insurers. The brokerage noted the insurer’s consistent growth in assets under management, embedded value, and profitability, aided by favourable industry trends and increasing insurance awareness. Geojit maintained a ‘Subscribe’ rating, recommending a medium- to long-term investment horizon.
IPO Structure and Pricing
The IPO was a pure offer-for-sale (OFS) of 23.75 crore shares, meaning existing shareholders offloaded part of their holdings without the company issuing new shares or raising fresh capital. The issue’s price band was set at ₹106 per share.
The minimum bid lot for retail investors was 140 shares, requiring a minimum investment of ₹14,840. For small non-institutional investors (sNIIs), the minimum application size was 1,960 shares (₹2,07,760), while large non-institutional investors (bNIIs) needed to apply for at least 9,520 shares (₹10,09,120).
The shares of Canara HSBC Life Insurance will list today on both the BSE and NSE, marking another significant milestone in the expanding Indian life insurance market.
