Government offers up to 5% stake in GIC at ₹352

Business Jun 15, 2026

The Indian government is putting up to 5% of its shares in General Insurance Corporation (GIC) on the market through an offer for sale (OFS).
There is a base offer of 2%, with room for another 3% if demand is high.
The price is set at ₹352 per share, a 9.1% discount from GIC's last closing price on Monday, so it might catch the eye of bargain hunters.

Government OFS opens June 16, 17

The OFS opens for big investors on June 16 and for retail buyers on June 17.
As of March 31, the government held 82.4% of GIC, but it is aiming to bring that down to meet public shareholding rules, basically making sure more shares are available for regular people.
This move follows a previous sale in September 2024 and is part of a bigger plan to eventually cut its stake by up to 10%.