Canara HSBC Life IPO to open on Oct 10; check GMP, price band and other key details

Canara HSBC Life IPO to open on October 9.

Canara HSBC Life Insurance Company IPO is set top open for public subscription in the primary market on October 10. It's a joint venture promoted by Canara Bank, which holds a 51 percent stake, and HSBC Group's HSBC Insurance (Asia Pacific) Holdings, which owns 26 percent.

The company has set a price band of Rs 100 to Rs 106 per share for its IPO, targeting for a valuation of about Rs 10,000 crore at the upper end.

The insurer's Rs 2,517-crore public offering would open for subscription on October 10 and conclude on October 14. The bidding for anchor investors would open for a day on October 9.

Canara HSBC Life IPO GMP Today Price

According to platforms tracking the grey market activities, the shares of Canara HSBC Life are commanding a GMP of about 9-14 percent in the unregulated market. Investorgain quoted a GMP of Rs 10 for the shares of the company, indicating a listing gain of 9.43 percent. IPO Watch quoted a GMP of 14 percent.

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Incorporated in 2007, Canara HSBC Life has grown into a prominent bank-led private player in the Indian life insurance sector.

Canara HSBC Life IPO allotment is expected by October 15, while the share listing is scheduled to take place on October 17.

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