Canara Bank India’s leading public sector announced the IPO process for its two subsidiaries, Canara Robeco Asset Management and Canara HSBC Life Insurance. says the MD & CEO of this company Satyanarayana Raju
This process could occur in the first and second quarters of 2026. The government approved this bank’s taking more than 30% stakes in these two sub-branches, which was not allowed before, per the rules. This would be appropriate to enhance market presence and shareholders’ value. During this process, the bank decided to sell 14.5% ownership of this company.
If the RBI, the Department of Financial Services, and the government approved this IPO, Canara HSBC Life Insurance would be listed on both stock exchanges. The bank will decide the size, timing, and other details later, and keep the exchanges informed about any important updates.
In addition, Canara Robeco Asset Management is the second oldest asset management company going to launch an IPO first. Canara Bank and Japan’s Orix Corporation hold 51% stakes. However, now Canara Bank (13%) and Japan’s Orix Corporation (12%) are offloading positions. This move will be beneficial for shareholders’ investments and the company’s growth.
Additionally, both subsidiaries made significant contributions to Canara Bank. As the bank gets ready for these public offerings, it is focused on providing value to its shareholders and staying a leader in the Indian banking sector. It has a head office at Gurugram, Haryana, and more than 100 branch offices across India.
Canara HSBC caterers a variety of life insurance products, health, online term plans, and retirement solutions for individuals and groups.
As per FY 2022, the company’s revenue was Rs 8,496 crore, and a net profit of Rs 10.24 crore. On Friday, Canara Bank’s shares closed 2.56% higher at Rs 118 on the NSE.
