Govt To Sell Up To 5% Stake In Insurer GIC Via OFS

Government to Offload Up to 5% Stake in General Insurance Corporation

The Indian government is poised to sell a stake of up to 5% in the General Insurance Corporation (GIC). The offer for sale will kick off on June 16 for non-retail investors, followed by retail investors on June 17. The minimum price has been set at 352 Indian rupees per share, aligning with ongoing efforts to comply with public shareholding requirements.