Punjab National Bank divests 10% stake in Canara HSBC Life Insurance

Punjab National Bank (PNB) has divested a 10% stake in Canara HSBC Life Insurance Company Limited, reducing its ownership from 23% to 13% through an offer for sale in an initial public offer. The transaction was completed on October 17, 2025.

The divestment generated a cash consideration of INR 10,07,00,00,000 for 9,50,00,000 shares at INR 106 per share. This transaction involved public buyers and is not considered a related party transaction.

For the fiscal year 2024-2025, Canara HSBC Life Insurance reported a net worth of INR 1,516.90 crore, income of INR 10,725.90 crore, and profit after tax (PAT) of INR 117.00 crore.