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Government's 5% GIC Re offer for sale fully subscribed

Mint   General Insurance Corporation of India  

The government has successfully completed an offer for sale (OFS) of a 5% stake in the state-owned reinsurer General Insurance Corporation of India . The transaction included the full subscription of a 2% base offer and a 3% greenshoe option. Following this divestment, the government’s stake in the company has declined to approximately 77.4%.The divestment is part of the government’s FY27 disinvestment program, through which it aims to raise INR 80,000 crore via asset monetization and the sale of minority stakes in central public sector enterprises while maintaining management control.