Canara HSBC Life Insurance IPO Sees Tepid Demand on Final Day

The Canara HSBC Life Insurance initial public offering closed with lackluster investor interest, achieving only 31% subscription by the final day. Bids covered just 5.24 crore shares against the 16.67 crore shares on offer, reflecting cautious market sentiment despite strong promoter backing from Canara Bank and HSBC.

Institutional participation remained muted, with qualified buyers bidding for 0.33x their allocation and retail investors matching this pace. Employees demonstrated stronger confidence, oversubscribing their portion by 1.51x. The ₹2,517-crore OFS priced at ₹100-106 per share had previously secured ₹750 crore from anchor investors including major asset managers.

Market analysts note the weak demand suggests investors are adopting a wait-and-see approach, possibly awaiting post-listing performance before committing capital. The shares are scheduled for allotment on October 15, 2025, with trading expected to commence shortly thereafter.