Promoter Sells Shares in General Insurance Corporation of India in Offer For Sale
The President of India, acting through the Ministry of Finance and Government of India, has sold equity shares in General Insurance Corporation of India (GIC). The sale was part of a comprehensive offer for sale (OFS) that involved two phases of selling to investors.The Offer For Sale (OFS) targeted both retail and non-retail investors. The base offer size consisted of up to 35,088,000 equity shares, representing 2.00% of the total paid up equity share capital of the company. An additional oversubscription option was available for an extra 52,632,000 Equity Shares, which represented 3.00% of the total issued and paid up equity share capital.
In addition to the primary offer for sale through stock exchanges (BSE and NSE), a special allocation was made for up to 20,000 equity shares offered to eligible employees of General Insurance Corporation of India.
The transaction details reported on June 19, 2026, indicated that the Promoter sold 8,77,20,505 shares during the offer period. This sale represented 5.00% of the company's total voting capital at the time.
Shareholding Details Before and After Sale
The following table details the pre-sale holdings and post-sale status of the Promoter in General Insurance Corporation of India:| Metric | Pre-Sale Holdings (Before Disposal) | Post-Sale Holdings (After Disposal) |
|---|---|---|
| Shares Carrying Voting Rights | 1,44,55,61,615 | 1,35,79,47,110 |
| Seller's Holding Percentage | 82.40% | 77.40% |
The sale and offer for sale took place in adherence to the established guidelines set by the stock exchanges and regulatory frameworks pertaining to comprehensive guidelines on offer for sale through stock exchange mechanism.
GICRE Stock Price Movement
As of 3:02 PM, the shares of General Insurance Corporation of India are edging higher to ₹362.95, rising by 1.64% in live trading. The stock sees a healthy volume, with 3.41 million shares exchanged as the company trades within its intraday range.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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