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Finance Ministry to Sell 6.78% Stake in GIC Re for Rs 4,700 Crore

Kumari Sonali

Finance Ministry to Sell 6.78% Stake in GIC Re for Rs 4,700 Crore:

The Union Ministry of Finance plans to divest a 6.78% stake in General Insurance Corporation of India (GIC Re) through an offer-for-sale (OFS) to raise approximately Rs 4,700 crore. This will be the first stake sale since GIC Re’s listing in 2017.

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