Canara HSBC Life Insurance Company’s ₹2,517-crore initial public offering opens today for subscription and will close on October 14. The insurer has set a price band of ₹100 to ₹106 per share and the market lot is 140 shares.

The IPO consists of an offer-for-sale of 23.75 crore shares by its promoters Canara Bank, (13.775 crore shares), HSBC Insurance Asia-Pacific Holdings (47.5 lakh shares) and Punjab National Bank (9.5 crore shares).

Canara HSBC LIC has reserved up to 50 per cent of the shares in the public issue for qualified institutional buyers (QIB), 15 per cent for non-institutional Institutional Investors (NII), and up to 35 per cent for retail investors.

Anchor quota

Canara HSBC Life has allotted 7,07,85,000 equity shares to 33 anchor investors and raised ₹750.32 crore at ₹10

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