India to divest up to 5% in GIC through offer for sale
Key takeaways
- India to divest up to 5% in GIC through offer for sale.
- The share sale consists of an initial offer of up to 2% of GIC’s equity, along with a provision to sell a further 3% in the event of oversubscription.
- A floor price of Rs352 per share ($3.72) has been fixed for the transaction, representing a discount of roughly 9.1% to the company’s closing price on 15 June 2026.
India to divest up to 5% in GIC through offer for sale. The government had already sold a 3.4% stake in September 2024. Credit: pichetw/Shutterstock.com. · Life Insurance International · pichetw/Shutterstock.com. Shubhendu Vimal Tue, June 16, 2026 at 10:19 PM GMT+7 1 min read The Indian Government is set to pare its holding in General Insurance Corporation (GIC) by as much as 5% through an offer for sale, according to a stock exchange filing by the state-owned insurer.
The share sale consists of an initial offer of up to 2% of GIC’s equity, along with a provision to sell a further 3% in the event of oversubscription.
A floor price of Rs352 per share ($3.72) has been fixed for the transaction, representing a discount of roughly 9.1% to the company’s closing price on 15 June 2026.