Canara HSBC Life Insurance Company IPO : Check allotment status, GMP, listing date & more

Canara HSBC Life Insurance Company is likely to finalize the basis of allotment of its shares on Wednesday, October 15. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either over the weekend or latest by Thursday, October 16. The comprehensive logistics solutions player saw a muted bidding from the investors.

The IPO of Canara HSBC Life Insurance Company ran for bidding between October 10 and October 14. It had offered its shares in the price band of Rs 100-106 per share with a lot size of 140 shares. The company raised a total of Rs 2,517.50crore via IPO, which was entirely a fresh share sale of up to 23.75 crore equity shares.

The issue was overall subscribed only 2.29 times fetching nearly 1.75 lakh applications, fetching bids for over Rs 4,050 crore. The allocation for the qualified institutional bidders (QIBs) was subscribed 7.05 times, while employees allocation was booked 2.06 times. The portions for non-institutional investors' (NIIs) and retail investors were undersubscribed at 33 per cent and 42 per cent, respectively.

The grey market premium (GMP) of Canara HSBC Life Insurance Company has seen a sharp correction, following a mixed bidding and jittered market sentiments. Last heard, the company was commanding a no premium in the unofficial market, suggesting a flat listing for the investors. The GMP stood at Rs 8-10 when the issue had opened for bidding.

Incorporated in 2007, New Delhi-based Canara HSBC Life Insurance Company is a private life insurance company in India, jointly promoted by Canara Bank and HSBC Insurance (Asia-Pacific) Holdings. It provides individual life insurance, group insurance solutions, retirement & pension products and more.

SBI Capital Markets, JM Financial, HSBC Securities and Capital Markets (India), BNP Paribas and Motilal Oswal Investment Advisors are the book running lead managers for Canara HSBC Life Insurance and Kfin Technologies is the registrar of the issue. Credit of shares and refund initiation shall be done on Thursday, October 16. Shares of the company shall be listed on both BSE and NSE on Friday, October 17.

Investors, who had bid for the issue of Canara HSBC Life Insurance Company, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1. Visit https://www.bseindia.com/investors/appli_check.aspx
2. Under the issue type, click Equity
3. Under the issue name, select Canara HSBC Life Insurance Company Limited in the dropbox
4. Write the application number
5. Add the PAN card ID
6. Click on 'I am not a Robot' and hit search button  

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1. Go to the web portal of KFin Technologies Limited
2. Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3. You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4. In application type, select between ASBA and non-ASBA
5. Enter the details of the mode you selected in Step 2
6. For security purposes, fill the captcha accurately
7. Hit submit.