Canara HSBC Life Insurance plans to raise $300m via IPO

India’s Canara HSBC Life Insurance is preparing for an initial public offering (IPO) aimed at raising up to $300m (Rs26.6bn), according to Bloomberg, citing anonymous sources. The life insurance company is jointly owned by Canara Bank, Punjab National Bank and HSBC Group’s local insurance division. Canara HSBC Life Insurance has started investor roadshows in anticipation of the IPO planned for early October. The IPO details, including its size and timing, are subject to change as discussions continue. ...