Government to sell upto 5% stake in General Insurance Corporation, OFS opens June 16
The Indian government plans to sell a 5% stake in the General Insurance Corporation of India through an offer for sale starting June 16. The shares are being offered at a floor price of ₹352, representing a discount of over 9% from the previous closing price.
Why it matters
This divestment is part of the government's strategy to raise capital and reduce its majority stake in state-owned enterprises.
The Centre is proposing to sell upto 5% holding in General Insurance Corporation of India (GIC) through an offer for sale (OFS) at a floor price of ₹352 each over two days, with the issue opening on June 16 for institutional investors.
The article provides factual reporting on government financial policy without emotive language or political commentary.
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