GIC Re OFS: Can You Buy Shares at 5% Discount?

The government is selling up to 5% of its stake in General Insurance Corporation of India through an OFS. Retail investors get a chance to buy shares at a discount on June 17 — here's what you need to know before bidding.

Here's what happened: The Indian government is offloading up to 5% of its shareholding in General Insurance Corporation of India via an Offer for Sale (OFS).. Non-retail investors (institutions, HNIs) get access on June 16, while retail investors can bid on June 17.. OFS routes allow existing shareholders — here, the government — to sell shares directly on the stock exchange at a floor price, often with a retail discount..

What you should do: Check the OFS floor price on NSE/BSE or your broker app before June 17 — retail investors typically get a 5% discount on the floor price.. Log into your demat-linked broker (Zerodha, Groww, HDFC Securities etc.) and look for the GIC Re OFS under the 'IPO/OFS' section to place your bid.. Assess GIC Re's fundamentals — dividend yield, combined ratio, and government backing — before committing, rather than bidding just for the discount..

In OFS bidding, place your order at or above the floor price — bids below the cut-off price are automatically rejected, costing you a missed opportunity.