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₹106 - 106
Canara HSBC Life Insurance Company Ltd
InsuranceIPO
₹106 - 106
We are a private life insurer in India and promoted by Canara Bank (which ranks as the fourth largest public sector bank by total assets in India as at March 31, 2025), according to CRISIL Report and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of the HSBC group, whose global reputation as a financial institution adds credibility and brand value to us. According to CRISIL Report, our individual weighted premium income grew third highest amongst bank led insurers between Fiscal 2022 and 2025 and was the second highest year-on-year growth amongst our Peer Set for Fiscal 2025. Furthermore, according to the CRISIL Report, our market share in the industry was 1.81% as at March 31, 2025, in terms of individual weighted premium income.
Lot140Min Invest₹14,840Face Value₹10Issue Size₹2,518 CrOffer for Sale₹2,518 CrListing Price₹106CMP₹125
Timeline
10 Oct
Bidding opens
14 Oct
Bidding closes
15 Oct
Allotment
16 Oct
Refund & demat credit
17 Oct
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹2,518 Cr23.75 Cr shares
Offer for Sale₹2,518 Cr
Face Value₹10
Lot Size140 shares
ReservationQIB 50% · NII 15% · RETAIL 35%
Application Sizes
Retail₹14,8401-13 lots
sNII₹2,07,760from 14 lots
bNII₹10,09,120from 68 lots
Managers & Registrar
Lead ManagerSBI Capital Markets Ltd
Co-ManagerBNP Paribas, HSBC Securities & Capital Markets (India) Pvt Ltd, JM Financial Ltd, Motilal Oswal Investment Advisors Ltd
RegistrarKFin Techologies Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrCanara BankPRMTR13,77,50,0001,460.15HSBC Insurance (Asia-Pacific) Holdings LimitedPRMTR47,50,00050.35Punjab National BankINVSTR9,50,00,0001,007.00Total23,75,00,0002,517.50
Shareholding
CategoryPre IPOPost IPOPromoter Group77%62%Public23%38%
Objects of the Issue
- Listing of Shares on the Stock exchanges
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| RevenueCr | 0 | 11,862 | 10,723 | 11,515 | 12,398 |
| Operating ProfitCr | 0 | -826 | -817 | -1,134 | -1 |
| OPM% | - | -7.0 | -7.6 | -9.8 | -0.0 |
| PBTCr | 0 | 124 | 128 | 141 | 149 |
| PATCr | 0 | 113 | 117 | 127 | 134 |
| EPS | 1 | 1 | 1 | 1 | 1 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Equity CapitalCr | 950 | 950 | 950 | 950 | - |
| ReservesCr | 403 | 0 | 567 | 655 | - |
| BorrowingsCr | 0 | 0 | 0 | 250 | - |
| Total AssetsCr | 30,549 | 38 | 41,852 | 46,824 | - |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 | Latest |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 2,593 | 2,310 | 1,208 | 3,534 | - |
| Investing Cash FlowCr | -2,518 | -2,045 | -714 | -3,666 | - |
| Financing Cash FlowCr | -29 | -48 | -19 | 212 | - |
| Net Cash FlowCr | 46 | 218 | 474 | 80 | - |
Strengths & Risks
Strengths · as stated in the DRHP
- We have an established parentage and a trusted brand amplifying customer attraction.
- We have a multi-channel distribution network with pan-India presence.
- We provide long term value creation driven by consistent and profitable financial performance.
- We have a diversified product portfolio with a focus on customer centricity enabling growth across business cycles.
- We have a technology integrated business platform with strong focus on automation and digital analytics leading to prudent risk management framework.
- We have experienced management team supported by a team of dedicated professionals.
Strategies · as stated in the DRHP
- Enhance penetration in our existing distribution network to facilitate growth.
- Strengthening our multi-channel distribution network to increase and diversify our revenue streams.
- Continued focus on customer centricity to improve customer satisfaction and retention.
- Continue to leverage technology and analytics to enhance productivity and efficiency to improve customer experience and manage risks.
- Ensure profitable growth through balanced product portfolio.
- Enhancing brand awareness and capturing growth opportunities through diversified marketing channels.
Risks · as stated in the DRHP
- Any termination of, or adverse change in, the company's bancassurance arrangements, and in particular the company's distribution agreement, as amended, with its Promoter, Canara Bank, or one of our group companies, HSBC India, or decline in performance standards of the company's bancassurance partners, may have a material adverse effect on the company's business, results of operations and financial condition.
- Adverse variation in persistency metrics or adverse persistency metrics as well as concentrated surrenders by customers may have a material adverse effect on the company's financial condition, results of operations and cash flows.
- The Company operates in a complex regulatory environment, and any adverse changes to these regulations or failures to comply with the requirements could disrupt the company's business operations or expose the company to significant penalties.
- The company may be unable to implement its strategies for growth and create appropriate products for specific customer segments and distribute them through the company's distribution channels. Additionally, the company's inability to maintain historical growth rates may result in these rates not being indicative of future growth.
- The Company is subject to periodic inspections by the Insurance Regulatory and Development Authority ("IRDAI"). Inspection by the IRDAI is a regular exercise for all insurance companies and the company may be subject to inspections from the IRDAI in the future. Non-compliance with the IRDAI's observations could subject us to penal action, which could adversely affect its business, financial condition, results of operations, cash flows and reputation.
- The company's solvency ratio for the three months ended June 30, 2025, June 30, 2024 and Fiscals 2025, 2024 and 2023 was 200.42%, 223.82%, 205.82%, 212.83% and 251.81%, respectively against the regulatory requirement of at least 150.00%. Our solvency ratio has decreased in the last three fiscal years primarily due to an increase in new business volumes and change in product mix. If the company does not meet solvency ratio requirements, the company may be subject to regulatory actions and could be forced to raise additional capital. The company may also need additional capital in the future, and the company cannot assure investors that the company will be able to obtain such capital on acceptable terms or at all.