India's Canara HSBC Life Insurance lists at issue price in tepid debut

Canara HSBC Life Insurance

17/10/2025 05:25

Oct 17 (Reuters) - India's Canara HSBC Life Insurance CANR.NS listed at its issue price of 106 rupees on Friday, in a sign of a weak debut for the Canara Bank-promoted entity in a busy IPO market.

The company, a joint venture between Canara Bank CNBK.NS and HSBC Insurance (Asia-Pacific) Holdings, had struggled to garner bids from retail and non-institutional investors earlier this week.

High dependence on promoter Canara Bank for new business premiums, unattractive valuations and a crowded IPO market clouded the insurer's prospects, analysts said.

 (Reporting by Vivek Kumar M; Editing by Sumana Nandy)

 ((VivekKumar.M@thomsonreuters.com;))