16 Jun 2026
Deal: Trilegal advised on the proposed IPO of Canara HSBC Life Insurance
17 Oct 2025
17 Oct 2025
Trilegal advised on the proposed initial public offering of equity shares (“IPO”) by Canara HSBC Life Insurance Company Limited (“CHL”), comprising an offer for sale of 237,500,000 equity shares aggregating to ?25,159.50 million.
The Promoters of CHL, being Canara Bank and HSBC Insurance (Asia-Pacific) Holdings Limited, and the Investor, being Punjab National Bank, are participating in the offer for sale and divesting a part of their stake in CHL.
As the first life insurance IPO under IRDAI’s revised capital raising framework, this landmark transaction set crucial regulatory precedents through coordinated engagement with IRDAI, RBI, and SEBI.
CHL is a private life insurer in India and promoted by Canara Bank, which ranks as the fourth largest public sector bank by total assets in India, and HSBC Insurance (Asia-Pacific) Holdings Limited, a member of The Hongkong and Shanghai Banking Corporation Limited group. CHL had the third highest assets under management amongst public sector promoted led life insurers and ranks amongst the top five bank-led life insurers in India.
Trilegal advised the syndicate of book running lead managers, namely SBI Capital Markets Limited, BNP Paribas, HSBC Securities & Capital Markets (India) Private Limited, JM Financial Limited, and Motilal Oswal Investment Advisors Limited.
The Trilegal Capital Markets team was led by Partner: Richa Choudhary; and supported by Counsel: Maitreya Rajurkar; Senior Associates: Sanya Chaudhari and Shivayana Balodia; and Associates: Siddhant Mishra, Deepanshu Agarwal, and Yatin Shikarpuri.
About Trilegal
Trilegal is a leading full-service law firm in India with over 25 years of experience, trusted for its in-depth expertise and client-centric approach. The firm advises a diverse set of clients, including Fortune 500 companies, global investment funds, major Indian conglomerates, domestic and international banks, technology and media giants, family offices, and high-net-worth individuals. With 148 partners operating under a distinctive lockstep model, Trilegal is the largest equity partnership in the country. The firm retains over 1,200 professionals across Mumbai, Delhi, Bengaluru, and Gurugram offices.
Trilegal has consistently been recognised among India’s top-tier firms in leading legal directories such as Chambers & Partners (Asia Pacific and Global), Legal 500 Asia Pacific, and Benchmark Litigation. It has also earned several prestigious accolades, including being named Best Overall Law Firm by India Business Law Journal (IBLJ) 2025, Innovative Lawyers in Disputes & Crisis Management by the Financial Times (FT) Innovative Lawyers Asia-Pacific Awards in 2025, M&A Firm of the Year by IFLR Asia-Pacific in 2024, Law Firm of the Year by Deal Volume at the VCCircle Awards in 2024.
For more information, please get in touch with Prakruti Jani | Mob: +91-9867868976 | BD@trilegal.com
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