16 Sep 2025 | 5 Mins Read
Canara Bank shares see surge as Sebi clears life insurance IPO
Flipitmoney
Canara HSBC Life Insurance received an observation letter from Sebi to proceed with its IPO, an offer for sale of up to 23.75 crore shares. Key stakeholders will sell shares: Canara Bank (13.77 crore), HSBC (47.50 lakh), and Punjab National Bank (9.5 crore). The company ranked 2nd among public-sector bank-led life insurers in FY24 and reported 232.61% PAT growth from FY22 to FY24.