India's Canara HSBC Life IPO fully subscribed on final day, driven by institutional buyers

Canara HSBC Life Insurance Company's $283 million initial public offering (IPO) was fully subscribed on the third day of its bidding on Tuesday, driven by robust interest from institutional buyers.

A joint venture between India's Canara Bank CANBK and HSBC Insurance (Asia-Pacific) Holdings, the insurer is targeting a market valuation of around $1.14  billion through the IPO.