<p>New Delhi: Canara HSBC Life Insurance Company Ltd has filed preliminary papers with capital markets regulator Sebi to float an initial public offering (IPO).</p>.<p>This comes days after Canara Robeco Asset Management Company (AMC) filed draft IPO papers with the Securities and Exchange Board of India (Sebi).</p>.<p>Like Canara Robeco AMC, Canara HSBC Life Insurance Company's IPO is a complete offer-for-sale (OFS) of 23.75 crore equity shares by promoters and an investor, according to the draft red herring prospectus (DRHP) filed on Monday.</p>.Urban Company files draft papers for $223 million IPO.<p>Under the OFS, Canara Bank will sell 13.77 crore equity shares, HSBC Insurance (Asia-Pacific) Holdings Ltd will offload 47.5 lakh shares and Punjab National Bank plans to divest 9.5 crore equity shares.</p>.<p>Since it is an OFS, the company will not receive any proceeds from the public issue.</p>.<p>Canara HSBC Life Insurance Company is a joint venture promoted by Canara Bank, which holds a 51 per cent stake, and HSBC Group's HSBC Insurance (Asia Pacific) Holdings, which owns 26 per cent.</p>.<p>Incorporated in 2007, Canara HSBC Life Insurance Company has grown into a prominent bank led private player in the Indian life insurance sector.</p>.<p>The company filed draft papers at a time when the IPO market is staring at a slowdown owing to volatility in the equity market.</p>.<p>SBI Capital Markets Ltd, BNP Paribas, HSBC Securities & Capital Markets (India) Private Ltd, JM Financial Ltd and Motilal Oswal Investment Advisors Ltd are the book-running lead managers to the issue.</p>.<p>In December 2024, Canara Bank announced that it got Reserve Bank's approval for a proposal to divest the bank's stake in life insurance and mutual fund ventures.</p>
<p>New Delhi: Canara HSBC Life Insurance Company Ltd has filed preliminary papers with capital markets regulator Sebi to float an initial public offering (IPO).</p>.<p>This comes days after Canara Robeco Asset Management Company (AMC) filed draft IPO papers with the Securities and Exchange Board of India (Sebi).</p>.<p>Like Canara Robeco AMC, Canara HSBC Life Insurance Company's IPO is a complete offer-for-sale (OFS) of 23.75 crore equity shares by promoters and an investor, according to the draft red herring prospectus (DRHP) filed on Monday.</p>.Urban Company files draft papers for $223 million IPO.<p>Under the OFS, Canara Bank will sell 13.77 crore equity shares, HSBC Insurance (Asia-Pacific) Holdings Ltd will offload 47.5 lakh shares and Punjab National Bank plans to divest 9.5 crore equity shares.</p>.<p>Since it is an OFS, the company will not receive any proceeds from the public issue.</p>.<p>Canara HSBC Life Insurance Company is a joint venture promoted by Canara Bank, which holds a 51 per cent stake, and HSBC Group's HSBC Insurance (Asia Pacific) Holdings, which owns 26 per cent.</p>.<p>Incorporated in 2007, Canara HSBC Life Insurance Company has grown into a prominent bank led private player in the Indian life insurance sector.</p>.<p>The company filed draft papers at a time when the IPO market is staring at a slowdown owing to volatility in the equity market.</p>.<p>SBI Capital Markets Ltd, BNP Paribas, HSBC Securities & Capital Markets (India) Private Ltd, JM Financial Ltd and Motilal Oswal Investment Advisors Ltd are the book-running lead managers to the issue.</p>.<p>In December 2024, Canara Bank announced that it got Reserve Bank's approval for a proposal to divest the bank's stake in life insurance and mutual fund ventures.</p>