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Govt set to divest 10% in GIC Re, New India Assurance

October 24, 2020 Business, Stock, Stocks-Markets-Economic Times

The government had divested close to 15% stakes in both New India and GIC in 2017. The disinvestment of GIC Re resulted in a mop-up of Rs 11,370 crore and New India’s IPO raised Rs 9,600 crore. Both the companies are currently trading at big discounts to their issue price.

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