General Insurance Corp slumps as OFS begins; govt proposes to sell upto 11.9 crore shares

General Insurance Corporation of India (GIC Re) has experienced a slump in its stock price as the government begins its offer for sale (OFS) of up to 11.9 crore shares. The article discusses the market reaction to the OFS and the implications for GIC Re’s stock performance. The sale is part of the government’s strategy to divest its stake and raise capital, but it has led to a decline in stock value. The article explores the factors influencing the stock price and the potential impact on investor sentiment.