Economic TimesLean R·
GIC shares decline 6% as Rs 3,088 crore OFS opens at 9% discount
Shares of General Insurance Corporation of India (GIC) declined 6% to their day's low of Rs 366 on the BSE on Tuesday as the government’s offer for sale (OFS) to divest up to 5% stake in the state-run insurer opens today at a floor price of Rs 352 apiece, implying a 9% discount to the stock’s previous closing price.In an exchange filing released on Monday, GIC announced that the government aims to sell up to 3.51 crore shares, representing a 2% equity stake, as part of the base offer which open…
Read at Economic Times →
