Shares of state-owned General Insurance Corporation of India (GIC) will be in focus during today’s trading session, i.e. on June 16, 2026, as its offer for sale (OFS) will open for non-retail investors. Headquartered in Mumbai, the General Insurance Corporation is an Indian public-sector reinsurance company. With this, GIC has become the fifth company where the government is selling its stake. The other companies in which the government has already trimmed its exposure are NLC India, NHPC India, Central Bank of India, and Coal India. It has already raised Rs 13,389 crore through public sector units’ stake sales in the current fiscal. This includes Rs 4,357 crore from NHPC, Rs 2,266 crore from Central Bank of India, Rs 5,542 crore from Coal India, and Rs 1,223 crore from NLC India.
The government will divest 2 per cent equity in GIC, with an additional 3 per cent as a green shoe option, Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said on X.
GIC OFS floor price
The government has fixed a floor price of Rs 352 per share for this OFS. This is a discount of 9.36 per cent from the closing price of Rs 388.35 on the BSE and 8.63 per cent of Rs 385.25 on the National Stock Exchange (NSE)
The two-day offer for sale (OFS) will open for institutional investors today and for retail investors on Wednesday.
At the floor price of Rs 352 apiece, the sale of over 8.77 crore shares will fetch about Rs 3,000 crore to the exchequer.
GIC share price
Shares of General Insurance Corporation of India (GIC) closed at Rs 388.35 on the BSE, 2.55 per cent or Rs 9.65 higher. During the day, the stock touched an intraday high of Rs 393 and an intraday low of RS 382.05. The market cap of the company stood at Rs 68,132.12 crore.
The stock has a 52-week high of Rs 418, hit on April 16, 2026 and a 52-week low of Rs 351.
The stock has delivered an almost flat return over the year. On a year-to-date (YTD) basis, it has gained 2.81 per cent against the correction of 10.48 per cent in the benchmark index.
