Canara HSBC Life Insurance Company Limited has informed the Exchange regarding allotment of 25000 securities pursuant to Non Convertible Securities at its meeting held on March 13, 2026
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Canara HSBC Life Insurance has allotted 25,000 unsecured, subordinated, listed, rated, redeemable, non-cumulative, non-convertible debentures (NCDs) on a private placement basis. Each debenture has a face value of ₹1,00,000, taking the total issue size to ₹250 crore. The NCDs carry a coupon rate of 8.15% per annum, payable annually, and have a 10-year tenor maturing on March 13, 2036, with a call option exercisable by the company from the end of year 5. The debentures are listed on NSE and are unsecured, ranking as subordinated debt for the insurer. The Debt Raising Committee approved the allotment on March 13, 2026.
The ₹250 crore subordinated debt raise helps bolster the insurer's capital base and solvency margin, supporting business growth. For equity shareholders, this adds a fixed interest obligation (8.15% annually) but does not dilute shareholding since these are non-convertible instruments.