Canara Bank approves diluting 14.5% stake in its life insurance venture, Canara HSBC Life Insurance Company, through an IPO. The bank also plans to list its mutual fund subsidiary, Canara Robeco Asset Management Company.New Delhi, May 31 (PTI) Canara Bank on Friday said it has approved the process of diluting 14.5 per cent stake in its life insurance venture Canara HSBC Life Insurance Company.The bank plans to dilute its stake by listing the company in Stock Exchanges (BSE/NSE) through initial public offering (IPO), Canara Bank said in a regulatory filing.This is subject to the approval of the Reserve Bank of India and Department of Financial Services, Government of India, it said.The…
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