GIC shares dip 4% as Rs 3,088 crore OFS opens for retail investors. Should you participate? (opens original article in a new tab)

GIC shares fell 4% as the government initiated an Offer for Sale (OFS) to divest a 5% stake in the insurer, attracting strong institutional demand but prompting analysts to caution retail investors over profitability concerns.

• GIC shares dipped 4% to Rs 346 on BSE as OFS for retail investors opened
• Government aims to sell 5% stake in GIC through OFS, valued at over Rs 3,087.74 crore
• Analysts advise retail investors to avoid OFS due to profitability concerns and sector headwinds
• OFS was oversubscribed 3.72 times on first day with strong institutional demand