GIC OFS Triggers Sharp Sell-Off: Stock Slides Over 5% as Supply Overhang Weighs

Shares of General Insurance Corporation of India $GICRE came under significant pressure on Tuesday, June 16, 2026, falling more than 5% in morning trade and touching their lowest level since April 6, 2026. The decline follows the Government of India’s announcement to divest up to a 5% stake through an Offer for Sale (OFS), with a floor price of ₹352 per share. While the OFS supports disinvestment objectives and improves public float, the market is reacting to the near-term supply overhang and pricing discount. From a long-term perspective, fundamentals remain unchanged, but short-term sentiment is likely to stay cautious until the OFS process concludes. 📌 Disclaimer: This content is for information only and not investment advice. Investments in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered advisor before making any investment decisions.