GIC Re shares decline following an announcement that the government will sell part of its holding through an offer for sale (OFS). Business Line reports that the company informs stock exchanges that the government plans to divest up to a 5% stake. The sale is expected to be conducted through an OFS scheduled for June 16–17, 2026, with up to 2% of the stake being sold in the form of about 3.51 crore shares. NDTV similarly reports that the share price slips after the OFS announcement, with the stock dropping as much as 5.49% to Rs 366 per share. The reporting indicates the decline is directly tied to the market reaction to the planned government divestment. Both outlets attribute the fall in the share price to expectations of increased supply from the OFS, while the exact final amount sold will depend on the outcome of the transaction. The OFS process and timelines are central to the announcement’s impact on trading.