Canara HSBC Life Insurance's IPO Receives Rs 750 Crore Boost from Anchor Investors

Canara HSBC Life Insurance Company announced it secured over Rs 750 crore from anchor investors, one day prior to the public opening of its initial public offering (IPO).

The anchor book witnessed strong interest from institutional investors such as ICICI Prudential Mutual Fund and HDFC Mutual Fund, alongside global names like Allianz Global Investors Fund and Amundi Funds, as per a circular found on BSE's website.

Issuing 7.08 crore equity shares to 33 funds at Rs 106 each, the company attained a transaction size of Rs 750.32 crore. The IPO, open from October 10 to October 14, targets a valuation of approximately Rs 10,000 crore at its peak, pricing shares between Rs 100–106.

(With inputs from agencies.)