Canara HSBC Life Insurance Files DRHP for IPO
Bengaluru: Canara HSBC Life Insurance Company Limited, a prominent bank-led private player in the Indian life insurance sector, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO). The IPO comprises an Offer for Sale of up to 237,500,000 Equity Shares.
The promoters of the company are Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited. The Offer for Sale includes shares to be sold by Canara Bank, HSBC Insurance (Asia-Pacific) Holdings Limited, and Punjab National Bank.
Canara HSBC Life Insurance Company Limited is a private life insurer in India, promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited. The company has grown into a prominent player in the Indian life insurance sector, with a strong track record of growth in Annualised Premium Equivalent (APE) and profit after tax.
The equity shares are proposed to be listed on BSE Limited and National Stock Exchange of India Limited. The Book Running Lead Managers to the issue are SBI Capital Markets Limited, BNP Paribas, HSBC Securities & Capital Markets (India) Private Limited, JM Financial Limited, and Motilal Oswal Investment Advisors Limited.
