DIPAM Secretary shared the development via X on Tuesday, adding “Offer for Sale in General Insurance Corporation of India received an enthusiastic response from the investors on day one and was oversubscribed 3.72 times. Government has decided to exercise the entire green shoe option. Retail investors and employees get to bid on Wednesday 17th June 2026.”
New Delhi: The General Insurance Corporation of India (GIC Re) witnessed strong investor demand on the first day of its offer for sale (OFS), with the issue oversubscribed 3.72 times, reflecting robust participation from institutional investors.
The subscription window for non-retail investors opened on Tuesday, while retail investors and employees will be able to place bids on Wednesday, June 17, 2026. Additionally, the government will exercise the full green shoe option.
DIPAM Secretary shared the development via X on Tuesday, adding “Offer for Sale in General Insurance Corporation of India received an enthusiastic response from the investors on day one and was oversubscribed 3.72 times. Government has decided to exercise the entire green shoe option. Retail investors and employees get to bid on Wednesday 17th June 2026.”
As per the earlier update shared by DIPAM Secretary on X, the Government of India is divesting up to 5 per cent equity in GIC Re through the OFS route as part of its ongoing disinvestment programme.
The issue has a floor price of Rs 352 per share, as announced by the Department of Investment and Public Asset Management (DIPAM) on social media platform X.
Providing details of the stake sale, the Secretary said, “The government will divest 2.0 per cent equity with an additional 3.0 per cent as a green shoe option.”
The OFS is part of the government’s broader disinvestment and public asset monetisation programme aimed at improving public shareholding in central public sector enterprises while mobilising resources for the exchequer.
In recent months, the Centre has successfully completed OFS transactions in companies such as Coal India Ltd, NHPC Ltd and Central Bank of India,