Canara HSBC Life Insurance IPO opens tomorrow: All you need
Canara HSBC Life Insurance is hitting the stock market with its IPO, opening October 10 and closing October 14, 2024.
The company has already raised ₹750 crore from anchor investors, and shares are priced between ₹100-₹106.
The goal? A valuation close to ₹10,000 crore, with shares set to list on October 17.
Who are they?
Founded in 2007, Canara HSBC Life is a joint venture between Canara Bank, HSBC Insurance (Asia Pacific) Holdings, and Punjab National Bank, offering life insurance products mainly through Canara Bank's huge branch network.
What's in the offer?
This IPO is an "offer for sale," meaning existing shareholders are selling 23.75 crore shares—mostly from Canara Bank, Punjab National Bank, and HSBC Insurance (Asia-Pacific) Holdings.
If you're curious about big financial moves or just want to keep an eye on major Indian IPOs, this one's worth watching.