Government Set to Divest up to 5% Stake in GIC Re through OFS

The Indian government plans to raise approximately INR 3,090 crore by selling up to a 5% stake in the General Insurance Corporation of India (GIC Re).
The divestment will be executed via an Offer for Sale (OFS), comprising a 2% base offer and an additional 3% green shoe option.
This move aligns with SEBI guidelines requiring listed public entities to maintain a minimum of 25% public shareholding; the government held an 82.4% stake as of March 2026.
The proceeds will contribute towards the government's ambitious divestment target of INR 80,000 crore set for the Financial Year 2026-27.
Aspirants should track this as it reflects the state's strategic asset monetization and fiscal management policies.

Key Facts / Static GK

GIC Re Headquarters: Mumbai, Maharashtra
GIC Re Foundation Year: 22 November 1972
SEBI Minimum Public Shareholding Rule: 25%

Q Practice Quiz — 16 June 2026

1. Which country recently conferred its highest civilian award, the 'Order of the White Double Cross (1st Class)', upon Prime Minister Narendra Modi?

A Slovenia

B Slovakia

C Czech Republic

D Austria

E Hungary

Explanation: Prime Minister Narendra Modi was conferred with Slovakia's highest national award, the Order of the White Double Cross (1st Class), by Slovak President Peter Pellegrini, marking the first-ever visit by an Indian PM to the nation.

2. Regarding the recently updated Wholesale Price Index (WPI) data, which of the following statements is/are correct? I. The new base year for WPI has been revised to 2022-23. II. The total number of items in the updated series has been increased to 957. III. The data is released by the National Statistical Office (NSO).

A Only I

B Only I and II

C Only II and III

D Only I and III

E All I, II, and III

Explanation: Statements I and II are correct. The base year has been updated to 2022-23, and the item basket increased from 697 to 957. Statement III is incorrect because WPI is released by the Office of Economic Adviser (OEA) under the DPIIT, Ministry of Commerce & Industry, not the NSO.

3. What is the primary objective of the newly launched 'WT-MARUT' portal?

A To monitor offshore deep-sea oil exploration blocks

B To facilitate digital tracking and management of the wind turbine supply chain

C To manage solar rooftop subsidy disbursements

D To map agricultural land suitable for bio-fuel cultivation

E To provide early warning systems for marine wind storms

Explanation: WT-MARUT (Wind Turbine - Management and Resource Utilisation Tracker) is India's first dedicated digital platform to streamline and manage the wind turbine supply chain.

4. What is the total combined stake (including the green shoe option) that the government proposes to sell in GIC Re through the Offer for Sale (OFS)?

A 2%

B 3%

C 5%

D 10%

E 15%

Explanation: The government proposes to sell up to 5% stake in GIC Re, which includes a base offer of 2% and a green shoe option of an additional 3%.

5. According to the PLFS data for May 2026, what was the recorded female Labour Force Participation Rate (LFPR) for individuals aged 15 and above?

A 54.4%

B 51.4%

C 32.8%

D 5.5%

E 45.2%

Explanation: The PLFS data for May 2026 recorded the female Labour Force Participation Rate (LFPR) for age 15 and above at 32.8%, while the overall LFPR was 54.4%.

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