The IPO will entirely be an offer for sale of up to 23.75 crore shares. (Photo: NDTV Profit) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Canara Bank Ltd's arm, Canara HSBC Life Insurance Co., will be opening its initial public offering on Oct. 10, according to an exchange filing from the company on Sunday.

The IPO is set to close on Oct. 14. It will entirely be an offer for sale of up to 23.75 crore shares. This includes up to 13.77 crore shares from Canara Bank, around 47 lakh shares from HSBC Insurance (Asia-Pacific) Holdings, and 9.5 crore shares from Punjab National Bank.

It will allocate a select portion of the shares to anchor investors a day before it launches. The price band for the IPO was okayed by regulators and will be announced soon.

Canara HSBC Life I

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