IPO Watch, April 29 -- Canara HSBC Life Insurance Company Ltd has filed its draft red herring prospectus (DRHP) with the capital market regulator, Securities and Exchange Board of India (SEBI), for an initial public offering (IPO).

Canara HSBC Life Insurance Company Limited is a private sector life insurance provider in India, backed by Canara Bank, which is the fourth largest public sector bank in the country based on total assets as of December 31, 2024.

As of March 31, 2024, the company held the third largest assets under management (AUM) among life insurers promoted by public sector entities, according to a CRISIL Report, and is ranked among the top five bank-led life insurers in India for the number of lives covered in fiscal 2024....