Government Launches OFS for GIC Re, Shares Fall Over 6% - BANKING FINANCIAL AWARENESS

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Government Launches OFS for GIC Re, Shares Fall Over 6%
Shares of General Insurance Corporation of India fell by over 6% after the Government of India announced an Offer for Sale (OFS) to reduce its stake in the state-owned reinsurer. Under the OFS, the government plans to sell up to 2% stake (3.51 crore shares) during June 16–17, 2026, with an option to sell an additional 3% stake. If this option is exercised, the total government divestment in General Insurance Corporation of India could reach 5%, making it a significant stake sale aimed at enhancing market participation and raising resources.

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BANKING AND FINANCIAL AWARENESS FOR RRB SCALE 2
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