Canara HSBC Life’s debut muted; shares inch 2.7% above issue price

Canara HSBC Life Insurance saw a modest listing, with share price rising ~2.7% above IPO level to ₹108.9. The valuation sits near $1.2 billion. Retail subscription was only ~42%, while high-net-worth individuals subscribed ~33%. Institutional participation helped overall subscription to 2.29×. Analysts point to weak pricing and competition in the crowded IPO market as reasons for tepid enthusiasm. The performance signals caution for upcoming offerings in financial and insurance sectors.