GIC Re stake sale oversubscribed 3.72 times, govt. to exercise green shoe option
The Indian government's stake sale in General Insurance Corporation of India (GIC Re) was oversubscribed 3.72 times on its first day. The government plans to exercise a green shoe option to sell a total of 5% of the company.
Why it matters
The successful sale reflects strong investor appetite for state-owned assets and supports the government's broader disinvestment and fiscal targets.
The Centre’s decision to shed stake in General Insurance Corporation of India was oversubscribed 3.72 times on day one of the two-day offer for sale (OFS) on Tuesday.
The article relies on financial data and official government announcements regarding the disinvestment process.
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