General Insurance Corp's OFS sees 3% subscription so far from retail investors on Day 2

The Offer for Sale (OFS) of General Insurance Corporation of India (GIC Re) witnessed a strong response from retail investors on its second day, with subscriptions exceeding three times the available shares. The OFS is part of the government's effort to divest a portion of its stake in the company. The high subscription rate indicates robust investor confidence in GIC Re's financial health and future prospects. Retail investors are showing significant interest, likely due to the attractive valuation and potential for long-term gains. This enthusiastic participation reflects the market’s positive sentiment towards the insurance sector and suggests a favorable outlook for similar future offerings. The success of this OFS will also aid in achieving the government's divestment targets and improving market liquidity.