Mumbai, June 17 -- Under the OFS, the government offered 3.51 crore shares, representing 2% of GIC Re's equity capital. It also has an oversubscription option to sell an additional 5.26 crore shares, equivalent to 3% equity, taking the total offer size to 8.77 crore shares or 5% of the company's paid-up equity capital.

The OFS opened for non-retail investors on 16 June and for retail investors and eligible employees on 17 June. The floor price was set at Rs 352 per share, reflecting a discount of about 9.4% to GIC Re's closing price of Rs 388.35 on the BSE on 15 June 2026.

The President of India, acting through the Ministry of Finance, is the promoter and seller in the transaction. Up to 20,000 shares were reserved for eligible employee...