Public Market

Secondary Issues

Govt to raise Rs.3,090-Cr via 5% stake sale in GIC Re

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The government aims to raise about Rs.3,090-Cr by selling up to a 5% stake in General Insurance Corp. of India (GIC Re) to meet the minimum public shareholding requirements. The floor price for the proposed stake sale under the offer-for-sale (OFS) route has been fixed at Rs.352 per share.Sebi's guidelines mandate a minimum public shareholding of 25% for all listed companies. The government held an 82.4% stake in GIC Re at the end of March 2026.The stake sale is also intended to help the government meet its ambitious divestment target of Rs.80,000-Cr for FY27. In case of oversubscription, the government may choose to sell up to another 52.6 million shares, representing 3% of the paid-up capital, for Rs.1,850-Cr.