GIC Re launches India's third largest IPO today
State-run reinsurer General Insurance Corporation of India (GIC Re) launched its Initial Public Offering (IPO) on Wednesday, selling shares at â¹855-912 apiece to raise â¹11,370 crore in the three-day offer. The IPO would be India's third largest ever, after Coal India's â¹15,200 crore and Reliance Power's â¹11,700 crore issues. Till mid-day trade, the IPO was already subscribed 71%.