Mumbai: Canara HSBC Life Insurance Company’s IPO was subscribed 2.29 times on Tuesday, the final day of bidding.
The retail investor category of the issue was subscribed 0.42 times while the qualified institutional investors category was subscribed 7.05 times. The non institutional investors or high net worth investors category was subscribed 0.33 times.
The IPO is entirely an offer for sale of 23.75 crore shares aggregating to ₹2,517.5 crore at the upper price band of ₹106. Promoters Canara Bank and HSBC Insurance (Asia-Pacific) Holdings along with Punjab National Bank offered shares as part of the offer for sale. – Our Bureau
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