The initial public offering (IPO) of Canara HSBC Life Insurance Company (Canara HSBC Life) opens for bidding today, that is on Friday, October 10. The life insurance player is selling its shares in the range of Rs 100-106 apiece for which investors can apply for a minimum of 140 equity shares and its multiples thereafter. The issue will close for subscription on Tuesday, October 14. Advertisement

Canara HSBC Life Insurance is looking to raise a total of Rs 2,517.50 crore via IPO, which is entirely an offer-for-sale (OFS) of up to 23.75 crore equity shares. The company will not receive any proceeds from the issue. Last heard, Canara HSBC Life was commanding a grey market premium (GMP) of Rs 10 apiece, suggesting nearly more than 9 per cent gains for investors.

Incorporated in 2007, New D

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