New Delhi, June 17 -- General Insurance Corporation of India (GIC) stock extended its decline to the second consecutive day on Wednesday, 17 June, as the offer for sale (OFS) opened for retail investors.

GIC share price fell over 3% to Rs.347.90 apiece on BSE. The stock opened at Rs.350.50 today, below Tuesday's close of Rs.358.65.

The GIC's OFS opened for retail investors today after the non-retail segment witnessed robust demand on Tuesday, with total subscription of 3.72 times.

Encouraged by the strong investor response, the government decided to fully exercise the greenshoe option, increasing the offer size by selling an additional 3% stake in the company on top of the base 2% stake sale.

The government launched an OFS for GIC, ai...