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.Compared to Monday’s (June 15, 2026) closing price of ₹388.35 per share on the BSE, the floor price is a discount of more than 9%.The OFS document filed by the State-owned insurer — government of India holds 82.40% stake — showed 35,088,000 equity shares representing 2% of the total paid up equity share capital are to be sold on June 16 to non-retail Investors and on June 17 to retail investors, employees and for non-retail Investors who choose to carry forward their un-allotted bids.There is an option (oversubscription option) to additionally sell 52,632,000 shares representing 3% of the equity share capital, collectively representing 5% stake.Additionally, up to 20,000 shares may be offered to eligible employees of the company — eligible employees can apply for shares amounting up to ₹5 lakh each. Published - June 16, 2026 01:24 pm IST