Government to sell up to 5% stake in General Insurance Corporation
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The government owned about 82.4% of the insurer as of March 31, based on LSEG data.
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SHAILESH ANDRADE
The Indian government intends to divest up to a 5% stake in General Insurance Corporation (GIC) through an offer for sale (OFS), the state‑run insurer announced on Monday.
Here are more details:
* The OFS comprises a base offering of up to 2% of GIC’s equity, with an option to add another 3% if demand exceeds supply.
* The floor price has been fixed at ₹352 per share (≈ $3.72), representing roughly a 9.1% discount to the stock’s closing price on Monday.
* Non‑retail investors can subscribe from June 16, while retail investors may apply starting June 17.
* India aims to reduce its holding in the insurer by 10% in stages to satisfy the regulator’s minimum public‑shareholding rule, Reuters noted in 2024. To date, the government has already offloaded 3.4% in September 2024.
* As of March 31, the government’s stake in the insurer stands at 82.4%, according to LSEG figures.
Published on June 15, 2026
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