GIC Re OFS: Can You Buy Shares at a Discount?

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

Here's what happened: The Indian government is offloading up to 5% of its shareholding in General Insurance Corporation of India (GIC Re) through an Offer for Sale (OFS).. Non-retail investors — institutions and HNIs — get access on June 16, while retail investors can apply on June 17.. GIC Re is India's largest reinsurance company, backed by the government, making it a relatively stable public sector financial stock..

What you should do: Check your demat account or broker app on June 17 — most platforms like Zerodha, Groww, and Upstox list OFS opportunities directly.. Compare the OFS floor price to GIC Re's current market price before bidding — retail investors typically get a 5% discount on the floor price.. Bid only what you can afford to block for 2–3 days, since your funds are locked until allotment is confirmed and refunds are processed..

In most government OFS issues, retail investors (bids up to ₹2 lakh) get a guaranteed discount of around 5% on the floor price — that's an instant paper gain if the stock holds steady post-listing.