How to check Canara HSBC Life IPO allotment
Applicants can check their allotment status once the basis of allotment is finalised. There are two main ways to verify allotment:
Via the registrar KFin Technologies (https://kfintech.com)
Click on IPO Allotment Status under the Investors section
Select Canara HSBC Life Insurance IPO from the drop-down menu
Enter your PAN, application number, or DP/client ID
Click Submit to view the allotment result
Via the BSE website (https://www.bseindia.com/investors/appli_check.aspx)
Select Equity and choose Canara HSBC Life Insurance
Enter your application number and PAN
Click Search to view your allotment status
Subscription details
The IPO saw overall subscription of 2.30 times, mainly led by institutional investors. The QIB category was subscribed 7.05 times, while non-institutional investors (NII) subscribed 0.33 times, and retail investors just 0.42 times. The employee quota was subscribed 2.06 times.
Despite the modest response from retail investors, the strong demand from institutional participants highlights long-term confidence in India’s private life insurance sector. However, the grey market premium (GMP) is currently flat at 0%, suggesting that listing gains may remain limited.
Company background
Promoted jointly by Canara Bank and HSBC Insurance (Asia-Pacific), the insurer operates in India’s fast-growing life insurance market. Founded in 2007, the company offers a range of individual and group life insurance products, pension plans, and government schemes like PMJJBY.
It leverages a wide bancassurance network — with access to over 15,700 branches across India — primarily through Canara Bank, HSBC, and eight regional rural banks. The company had the third-highest weighted premium income among bank-led life insurers between FY21 and FY25.
Financials
Canara HSBC Life posted a 3% decline in revenue to Rs 234 crore in FY25 but maintained steady profitability, with net profit up 3% YoY to Rs 117 crore. Return on equity stood at 7.7%, while the company’s net worth rose to Rs 1,517 crore.
GMP and expected listing gains
The GMP is currently muted at around Rs 0. Analysts say the company’s trusted brand, diversified product mix, and bank-led distribution strength offer long-term stability. However, the IPO valuation — implying a P/E multiple of 86x on FY25 earnings — is considered aggressive, especially when compared to peers like SBI Life and HDFC Life.
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