Canara HSBC Life Insurance IPO Day 2: Subscription at 13% So Far — GMP, Key Details, and Expert Review
Canara HSBC Life Insurance IPO subscribed 13% so far on Day 2. GMP at ₹2 per share; analysts recommend ‘Subscribe’ for long-term investors. Check key dates, details, and review.
Canara HSBC Life Insurance IPO sees 13% subscription on Day 2; analysts remain positive on long-term outlook.
It was on Monday, October 13, 2025, when the second day of Canara HSBC Life Insurance IPO subscription was witnessed. The sluggish start was followed by the Issuer receiving total subscriptions amounting to just 13%. Investors are tracking the GMP and institutional participation as the issue will close on October 14.
💰 Canara HSBC Life Insurance IPO: Key Details
Particulars Details
- IPO Open Date October 10, 2025
- IPO Close Date October 14, 2025
- Allotment Date October 15, 2025
- Listing Date October 17, 2025
Exchange Listing BSE, NSE
- Issue Size ₹2,517.50 crore
- Offer Type 100% Offer for Sale (OFS)
- Shares Offered 23.75 crore equity shares
- Price Band ₹100 – ₹106 per share
Lot Size 140 shares
- Employee Discount ₹10 per share
- Book Running Lead Manager SBI Capital Markets Ltd.
- Registrar Kfin Technologies Ltd.
The IPO is a pure OFS, with no fresh issue component. The entire proceeds will go to the selling shareholders — Canara Bank, HSBC Insurance (Asia-Pacific) Holdings Ltd, and Oriental Bank of Commerce.
📊 Subscription Status (as of 10:50 AM, Oct 13)
The IPO has received 13% overall subscription on Day 2 of bidding:
- Retail Investors (RII): 20%
- Non-Institutional Investors (NII): 7%
- Qualified Institutional Buyers (QIB): 3%
The muted response so far indicates cautious investor sentiment, with stronger participation expected on the final day.
💹 Canara HSBC Life Insurance IPO GMP Today
According to market observers, the Grey Market Premium is set at Rs. 2 per share.
This means the shares would be selling at around Rs. 108 apiece in the unofficial market, representing a premium of 1.9% over Rs. 106, the upper price of the issue.
With modest demand shown by the GMP, experts suggest putting more focus on company fundamentals than on the short-term fluctuations of the grey market.
🧾 Financial Performance and Valuation
Canara HSBC Life Insurance has shown steady embedded value (EV) growth, reflecting consistent business expansion and profitability:
- FY23: ₹42,719.3 million
- FY24: ₹51,798.6 million
- FY25: ₹61,107.4 million
- June 30, 2025: ₹63,526.4 million
At the upper price band of ₹106, the IPO values the company at a P/EV multiple of 1.6x (FY25) — considered attractive compared to industry peers.
🧠 Expert Review — Should You Apply?
Analysts at BP Equities have given a “Subscribe” rating to the issue, citing the company’s:
- Consistent growth in embedded value,
- Balanced product mix,
- Strong parentage from Canara Bank and HSBC, and
- Improving profitability trajectory.
They note that the valuation appears reasonable relative to other listed life insurers, offering potential for medium to long-term gains.
