Canara HSBC Life lists; Canara Bank lowers stake to 36.5%

Canara HSBC Life Insurance made its stock market debut, with shares rising ~2.7%. Concurrently, Canara Bank reduced its shareholding from 51% to 36.5% via this IPO. The listing attracted institutional subscriptions but weaker interest from retail and HNI segments. The move realigns Canara Bank’s asset mix and frees capital. Analysts note that valuation and bancassurance-dependent business may cap upside amid competitive insurance sector dynamics.