India Sounds Out Investors in London on GIC Stake Sale Plans

The Indian government has held road shows in London to gauge investor interest in a potential minority stake sale in state-owned General Insurance Corporation of India (GIC), according to two government sources. Officials from the Department of Investment and Public Asset Management (DIPAM) met global investors to seek feedback as New Delhi evaluates the timing and structure of the proposed share sale.

India plans to divest a total 10% stake in GIC in phases to comply with market regulator norms that require a minimum public shareholding of 25% in listed companies. The government had already sold a 3.4% stake in the insurer in September 2024. Currently, the state holds an 82.4% stake in GIC, while the company’s shares are trading about 3.5% below the price set during the last offer-for-sale.

While the government remains committed to its privatisation and divestment agenda, the pace of stake sales has slowed in the past two years. Divestment receipts stood at ₹175 billion in 2024/25, and India is targeting ₹470 billion through stake sales and asset monetisation in the current financial year ending March 31, 2026, according to official data.

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