India’s Canara HSBC Life Aims to Raise $300 Million in IPO

Canara HSBC Life Insurance Co. has kicked off investor roadshows ahead of its initial public offering planned for the first half of October, according to people familiar with the matter.

The insurer, owned by Canara Bank, Punjab National Bank, and the local insurance unit of HSBC Group, is seeking to raise as much as $300 million, the people said, asking not to be identified as the information is private.

Deliberations are still ongoing, and details including the IPO size and timing could change, the people said. Canara HSBC Life didn’t respond to email requests for comment.

The company filed a ...