Retail players can skip GIC Re's OFS: Analysts

The government is selling up to 5% stake in GIC Re via OFS at a floor price of ₹352 per share, about 8.63% below Monday's close of ₹385.25. The non-retail portion was subscribed 3.72 times, prompting exercise of the greenshoe option to sell an additional 3%. Analysts advise retail investors to skip the issue, citing a weak FY26 combined ratio of 106%, RoE of 16.4%, and heavy reliance on an investment portfolio of about ₹1.5 lakh crore for profits; the stock closed 8% lower at ₹356.40.