Canara HSBC Life IPO Opens with ₹100-106 Price Band
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BTCCSquare news:
Canara HSBC Life Insurance Company’s ₹2,517-crore initial public offering commenced subscription today, set to close on October 14. The insurer priced shares between ₹100 and ₹106, with a market lot of 140 shares. The offer comprises 23.75 crore shares sold by promoters Canara Bank, HSBC Insurance Asia-Pacific Holdings, and Punjab National Bank.
Allocations reserve 50% for qualified institutional buyers, 15% for non-institutional investors, and 35% for retail participants. Anchor investors, including ICICI Prudential MF and HDFC MF, secured 7.07 crore shares at ₹106 apiece, raising ₹750.32 crore ahead of the public offering.
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