Government to sell upto 5% stake in General Insurance Corporation, OFS opens June 16

The Centre is proposing to merchantability upto 5% holding successful General Insurance Corporation of India (GIC) done an connection for merchantability (OFS) astatine a level terms of ₹352 each implicit 2 days, with the contented opening connected June 16 for organization investors.

Compared to Monday’s (June 15, 2026) closing terms of ₹388.35 per stock connected the BSE, the level terms is simply a discount of much than 9%.

The OFS papers filed by the State-owned insurer — authorities of India holds 82.40% involvement — showed 35,088,000 equity shares representing 2% of the full paid up equity stock superior are to beryllium sold connected June 16 to non-retail Investors and connected June 17 to retail investors, employees and for non-retail Investors who take to transportation guardant their un-allotted bids.

There is an enactment (oversubscription option) to additionally merchantability 52,632,000 shares representing 3% of the equity stock capital, collectively representing 5% stake.

Additionally, up to 20,000 shares whitethorn beryllium offered to eligible employees of the institution — eligible employees tin use for shares amounting up to ₹5 lakh each.