Canara HSBC Life IPO fully subscribed on final day driven by institutional demand

Canara HSBC Life Insurance’s ₹1,775 crore IPO was fully subscribed on its final day with over 178.9 million shares bid against 166.7 million on offer. Qualified institutional buyers subscribed 3.5×, while retail was 1.4×. The price band was ₹100-106 per share. Anchor investors committed ₹7,500 million earlier. The offer-for-sale structure will see no fresh capital inflow. Strong response reflects investor confidence in India’s growing insurance penetration theme and steady profit trajectory. Source: Reuters / Moneycontrol