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Canara Bank expects nod for insurance, AMC arms' IPOs
The Morning Standard
|November 12, 2024
STATE-run lender Canara Bank is expecting the final clearance from the Department of Financial Services for the initial public offerings (IPOs) of two of its arms—Canara HSBC Life Insurance and Canara Robeco Asset Management Company—within a fortnight.
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The Bengaluru-based lender bank holds a 51% stake each in both the insurance as well as the AMC subsidiaries and wants to pare at least 14.5% in the insurance arm and 13% in AMC arm through the IPOs.
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