Canara HSBC Life Insurance Company Ltd, a prominent player in the Indian life insurance sector, has filed its preliminary papers with the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO). The offering, which will be a complete offer-for-sale (OFS), follows a similar move by Canara Robeco Asset Management Company (AMC), which also filed for an IPO recently. Despite market volatility, Canara HSBC Life’s IPO aims to raise funds through a strategic divestment of shares by its promoters and investors.