Government to launch OFS for 6.78% stake in GIC, floor price set at Rs 395
The Centre is preparing to launch an Offer for Sale (OFS) for 59.5 million shares in General Insurance Corp (GIC), a reinsurance company. The OFS will trim the government’s stake in GIC by up to 6.78%, reducing its current holding from 85.78% to 79%. The issuance will come with an additional green shoe option for…