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Home
InvestmentsIPOCanara HSBC Life Insurance Company Limited IPO

Canara HSBC Life Insurance Company Limited IPO

Mainboard

Open Date

10 Oct 2025

Close Date

14 Oct 2025

Min Investment

₹ 14,000

Max Investment

₹ 5,00,000

Lot Size

140

Issue Size

₹ 2517.50 Cr

Price Range

₹ 100 - ₹ 106
status

This IPO is now Live.

Click here for live price
IPO Timeline
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IPO Offer Start
10 Oct 2025
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IPO Offer Ends
14 Oct 2025
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Allotment Finalisation
15 Oct 2025
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Refund Initialisation
16 Oct 2025
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Non-Institutional Buyers (sHNI)
16 Oct 2025
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Listing of Shares
17 Oct 2025
IPO Subscription Details as on 13 Dec 2025, 02:59 PM
Qualified Instituational Buyers (QiB)
7.05 x
Retail
0.4 x
Employees
2 x
Non-Institutional Buyer (bHNI)
0.28 x
Non-Institutional Buyer (sHNI)
0.43 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
The company is a private life insurer in India, promoted by Canara Bank (the fourth largest public sector bank by total assets in India as at December 31, 2024) and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of The Hongkong and Shanghai Banking Corporation Limited (HSBC) group. Incorporated in 2007, the company has grown into a prominent bank led private player in the Indian life insurance sector, ranking second amongst public sector bank led life insurers in India based on the number of lives covered for Fiscal 2024. The company's individual weighted premium income (WPI) (NBP) collected grew third highest amongst bank led insurers between Fiscal 2021 and 2024 and was the highest year-on-year growth amongst the Peer Set for the nine months ended December 31, 2024. The company had the third highest assets under management (AUM) amongst public sector promoted led life insurers, as at March 31, 2024 and ranks amongst the top five bank led life insurers in India based on the number of lives covered for Fiscal 2024. The company's Annualised Premium Equivalent (APE) has consistently grown, reflecting efforts to expand products and services and increase market presence. The company's profit after tax has increased at a CAGR of 232.61% from ₹102.43 million in Fiscal 2022 to ₹1,133.17 million in Fiscal 2024 and was ₹848.93 million in the nine months ended December 31, 2024. The company's Embedded Value increased from ₹42,719.35 million as at March 31, 2023, to ₹51,798.61 million as at March 31, 2024 and further increasing to ₹59,295.24 million as at December 31, 2024. The company is well capitalized, with a solvency ratio of 215.00% in the nine months ended December 31, 2024 that surpasses the regulatory requirement of 150.00%. The company has provided coverage to 9.23 million lives as at December 31, 2024. The company gains considerable advantage in fostering new business growth by harnessing bancassurance partnerships with promoters, having access to an aggregate of over 15,700 geographically distributed network of branches across India through distribution agreements. The company offers a comprehensive range of life insurance products tailored for both individual and group customers, with a product portfolio comprising 17 individual products, seven group products and two optional rider benefits, along with policies under the PMJJBY scheme.
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Founded In

2007

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CEO

Anuj Dayal Mathur

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DRHP

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Utilisation of Proceeds

PurposeAmount
The company intends to carry out an Offer for Sale of up to Equity Shares of face value of ₹ each by the Selling Shareholders. The company will not receive any proceeds from the Offer, and all proceeds will be received by the Selling Shareholders after deduction of Offer related expenses and relevant taxes.-
The company aims to achieve the benefits of listing the Equity Shares on the Stock Exchanges. The company expects that listing of the Equity Shares will enhance its visibility and brand image and provide liquidity and a public market for the Equity Shares in India.-
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  • Established parentage and a trusted brand amplifying customer attraction: The company was incorporated in 2007 and is promoted by Canara Bank, which holds a 51.00% stake and ranks as the fourth largest public sector bank by total assets in India as at December 31, 2024, and HSBC Insurance (Asia-Pacific) Holdings Limited, which holds a 26.00% stake. The company benefits significantly from the strong and well-established brand equity of Canara Bank and the HSBC group, recognized globally for its comprehensive financial services and reputation. The company's strong brand equity and focus on customer service have helped achieve improving persistency ratios as 13th month persistency ratios increased from 74.51% in Fiscal 2022 to 80.73% in Fiscal 2024 and stood at 83.45% for the nine months period ended December 31, 2024. The company's 13th month persistency ratio improved by 600 basis points in the last three years, which was the highest among bank led life insurance players between Fiscals 2022 to Fiscal 2024. The company's claims settlement ratio improved from 99.05% in Fiscal 2022 to 99.31% in Fiscal 2024, which was the fourth highest amongst bank led insurance players in India for Fiscal 2024.
  • Multi-channel distribution network with pan-India presence: The company's suite of products is accessible to both individual and group customers through a diversified distribution network consisting primarily of bancassurance, brokers and other corporate agents, and direct sales. Through distribution agreements with bancassurance partners, the company has access to an aggregate of over 15,700 geographically distributed network of branches across India, as at December 31, 2024. The company's distribution agreement with Canara Bank provides access to an aggregate of 117 million customers through 9,816 branches across India, as at December 31, 2024. The company's strategic distribution model grants an expansive presence across diverse customer segments, leading to economies of scale throughout the majority of channels, ensuring consistent profitability.
  • Long term value creation driven by consistent and profitable financial performance: The company was one of the life insurers to report fastest three consecutive years of profit from the first year of operation amongst the Peer Set and were amongst one of the fastest life insurers to generate profits in five years of operations. Between Fiscal 2022 and Fiscal 2024, the company's Individual WPI and total business premium has grown at a CAGR of 11.29% and 10.01% respectively. The company's AUM grew by a CAGR of 19.23% between March 31, 2022 and March 31, 2024 and was ₹4,00,127.41 million as at December 31, 2024. The company's Embedded Value increased from ₹42,719.35 million as at March 31, 2023, to ₹51,798.61 million as at March 31, 2024 and further increasing to ₹59,295.24 million as at December 31, 2024. The company's Operating RoEV was 20.42% and 18.48% for the nine months ended December 31, 2024 and Fiscals 2024, respectively. The company had the second highest dividend payout ratio amongst bank led insurance players in India for Fiscal 2024 and the second highest solvency ratio of 2.13 times amongst bank led insurance players in India for Fiscal 2024.
  • Diversified product portfolio with a focus on customer centricity enabling growth across business cycles: The company believes that a diversified and balanced product portfolio is crucial to driving growth, effectively meeting the diverse demands of individual and group customers. As on the date of this Draft Red Herring Prospectus, the company's portfolio encompassed 17 individual products, seven group products and two optional rider benefits, along with policies under the PMJJBY scheme, designed to address protection, savings and retirement needs. The company had the third highest share of premium from non-linked non-participating business amongst the Peer Set in Fiscal 2024 and the second highest average premium ticket size for individual insurance among public sector bank led life insurers for the nine months ended December 31, 2024. The company's sum assured has increased at a CAGR of 32.23% from ₹2,157,427.42 million as at March 31, 2022 to ₹3,772,033.99 million as at March 31, 2024. The company's average claims settlement time decreased from 8.64 days in Fiscal 2022 to 6.12 days in Fiscal 2024 and further improved to 5.68 days for the nine months ended December 31, 2024, with an overall settlement rate of 99.14%.
  • Technology integrated business platform with strong focus on automation and digital analytics leading to prudent risk management framework: The company has leveraged advanced AI, data and analytics to drive both revenue and service improvements, capitalising on advanced technologies to enhance business operations. The company had the highest information technology expenses amongst the Peer Set for Fiscal 2024 while focusing to automate processes and reduce cost per transactions. For the nine months ended December 31, 2024, approximately 72% of the company's policy applications (excluding term and medical portfolio products) were processed using the 'straight-through processing' method and more than 99% of applications were processed digitally. The proportion of service requests received through digital channels increased from 72.32% in Fiscal 2023 to 83.00% in Fiscal 2024, and 87.60% in nine months ended December 31, 2024. Digital communications rose from 49.17% in Fiscal 2023 to 73.17% in Fiscal 2024, and 82.09% in the nine months ended December 31, 2024. The company has been recognized with industry accolades such as 'Best Use of Technology to Enhance Customer Experience' at the Customer Fest Leadership Awards in 2023 and 'Best Use of Data Analytics in Predictive Modeling' at the Martech Leadership Award 2022.
  • Experienced management team supported by a team of dedicated professionals: The company is guided by an experienced management team, led by Managing Director and Chief Executive Officer, Anuj Dayal Mathur, who has been associated with the company since before the commencement of business and has received various awards including 'Most Promising Business Leaders of Asia' by Times Now in 2025. The company's Board comprises industry experts with executive leadership experience across diverse sectors, including senior members of Canara Bank, HSBC group and independent directors. The majority of the company's Key Managerial Personnel and Senior Management have been with the company for many years, some for over 15 years, with the average tenure of KMPs being 12 years, which is highest amongst public sector bank led life insurers as at March 31, 2025. Approximately 70% of the company's senior management team has been with the company for over a decade. The company has been certified as a 'Great Place to Work' by the Great Place to Work Institute, India for three consecutive years from 2022 until 2024.

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