A study by Delhi-based PRIME Database has shown that the Government has made huge gains in some of the recent PSU IPOs.
| COMPANY | IPO MONTH | POST IPO GOVT. HOLDING (%) | POST IPO GOVT. HOLDING (No. of Shares in crores) | OFFER PRICE (Rs.) | VALUE OF GOVT. HOLDING ON ISSUE DATE (Rs. crore) | MARKET PRICE AS ON 05.08.2020 (Rs.) | VALUE OF GOVT. HOLDING AS ON 05.08.2020 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
| NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 85.90 | 63,391.06 | 17,637.33 | 38.55 |
| POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 82.75 | 8,526.97 | -231.86 | -2.65 |
| POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 175.95 | 63,956.21 | 45,054.72 | 238.37 |
| REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 101.40 | 7,123.76 | -252.91 | -3.43 |
| NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 20.05 | 21,299.85 | -16,944.28 | -44.31 |
| OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 94.05 | 1,773.78 | -18,029.17 | -91.04 |
| SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 22.05 | 8,206.19 | -1,470.04 | -15.19 |
| COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 128.50 | 73,048.75 | -66,227.14 | -47.55 |
| MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 140.00 | 1,881.60 | -3,158.40 | -62.67 |
| PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 13.35 | 244.38 | -1,952.29 | -88.87 |
| NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 23.10 | 249.48 | -895.32 | -78.21 |
| HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 35.00 | 6,292.44 | -4,494.60 | -41.67 |
| COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 323.30 | 3,296.10 | -1,108.21 | -25.16 |
| GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 143.15 | 10,772.04 | -57,855.96 | -84.3 |
| NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 115.30 | 8,117.12 | -48,202.87 | -85.59 |
| BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 416.70 | 6,701.76 | -181.73 | -2.64 |
| HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 965.20 | 29,038.54 | -7,445.48 | -20.41 |
| MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 210.00 | 2,911.26 | 1,663.58 | 133.33 |
| RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 238.15 | 4,162.86 | 929.06 | 28.73 |
| IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 92.35 | 774.43 | -3,208.84 | -80.56 |
| GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 208.55 | 1,779.79 | 772.76 | 76.74 |
| MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 152.05 | 693.06 | 146.09 | 26.71 |
| RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 19.20 | 3,516.60 | 36.63 | 1.05 |
| TOTAL | 4,93,176.96 | 3,27,758.03 | -1,65,418.93 | -33.54 |
(Only PSU IPOs since 2004 onwards, with a listing period of over 1 year have been considered in the study)
As can be seen, the Government has made a notional gain of over Rs. 1,65,418.93 crore or 33.54% in these 23 IPOs as on 05.08.2020