Canara HSBC Life Insurance IPO Day 2: Issue booked 27%; GMP, subscription status to review. Should you apply?

Canara HSBC Life Insurance IPO: The initial public offering (IPO) of Canara HSBC Life Insurance Company Ltd enters its second day of subscription period today, 13 October 2025, Monday. The public issue received muted demand on the first day of the bidding process.

Canara HSBC Life Insurance IPO opened for subscription on October 10, and will close on October 14. The IPO allotment date is October 15, and the IPO listing date is October 17. Canara HSBC Life Insurance shares will be listed on BSE and NSE.

The ₹2,517.50 crore worth Canara HSBC Life Insurance IPO is entirely an offer-for-sale (OFS) of 23.75 crore equity shares sold at an IPO price band of ₹100 to ₹106 per share. Canara HSBC Life Insurance IPO lot size is 140 shares. The offer includes a reservation of up to 15.50 lakh shares for employees offered at a discount of ₹10.00 to the issue price.

SBI Capital Markets Ltd. is the book running lead manager and Kfin Technologies Ltd. is the Canara HSBC Life Insurance IPO registrar.

Canara HSBC Life Insurance IPO Subscription Status

Canara HSBC Life Insurance IPO has been subscribed 27% in total till 5 PM on October 13, the second day of the bidding process. The public issue is booked 27% in the Retail Individual Investors (RIIs) category, and 14% in the Non Institutional Investors (NII) segment. The Qualified Institutional Buyers (QIBs) category received 32% subscription.

Canara HSBC Life Insurance IPO GMP Today

Canara HSBC Life Insurance shares are commanding a muted grey market premium (GMP) today. According to market experts, Canara HSBC Life Insurance IPO GMP today is ₹2 per share. This indicates that in the grey market, Canara HSBC Life Insurance shares are trading higher by ₹2 apiece, or at a premium of 1.9% at ₹108 apiece, against the issue price of ₹106 per share.

Canara HSBC Life Insurance IPO Review

Canara HSBC Life Insurance Company has demonstrated steady value creation, as reflected in the consistent growth of its Embedded Value (EV) rising from ₹42,719.3 million in FY23 to Rs. 51,798.6 million in FY24, and further to Rs. 61,107.4 million in FY25, with an additional uptick to Rs. 63,526.4 million as of June 30, 2025.

“At the upper price band of ₹106, the company is currently valued at a P/EV (Price to Embedded Value) multiple of 1.6x (FY25), which appears attractive in comparison to industry peers, indicating potential undervaluation as growth and profitability sustain. We, thus, recommend a “Subscribe” rating for this issue,” said BP Equities.

Read all IPO News here

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.