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 26.07.2024 (Rs.) | VALUE OF GOVT. HOLDING AS ON 26.07.2024 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 396.50 | 2,92,602.50 | 2,46,848.77 | 539.52 |
POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 539.00 | 55,541.25 | 46,782.42 | 534.12 |
POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 344.30 | 1,25,149.89 | 1,06,248.40 | 562.12 |
REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 625.55 | 43,947.39 | 36,570.72 | 495.76 |
NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 104.60 | 1,11,120.44 | 72,876.31 | 190.56 |
OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 560.60 | 10,572.89 | -9,230.06 | -46.61 |
SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 148.05 | 55,098.68 | 45,422.45 | 469.42 |
COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 509.45 | 2,89,608.44 | 1,50,332.55 | 107.94 |
MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 494.55 | 6,646.75 | 1,606.75 | 31.88 |
PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 68.46 | 1,253.20 | -943.47 | -42.95 |
NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 174.60 | 1,885.68 | 740.88 | 64.72 |
HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 313.95 | 56,443.20 | 45,656.16 | 423.25 |
COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 2,466.65 | 25,147.92 | 20,743.61 | 470.98 |
GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 410.45 | 30,886.36 | -37,741.64 | -54.99 |
NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 291.50 | 20,521.60 | -35,798.39 | -63.56 |
BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 1,412.90 | 22,723.57 | 15,840.08 | 230.12 |
HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 4,906.35 | 1,47,610.08 | 1,11,126.06 | 304.59 |
MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 495.85 | 6,874.05 | 5,626.37 | 450.94 |
RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 667.05 | 11,660.03 | 8,426.23 | 260.57 |
IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 274.70 | 2,303.59 | -1,679.68 | -42.17 |
GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 2,211.45 | 18,872.79 | 17,865.76 | 1774.11 |
MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 952.15 | 4,339.98 | 3,793.01 | 693.46 |
RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 552.70 | 1,01,230.48 | 97,750.51 | 2808.95 |
INDIAN RAILWAY CATERING & TOURISM CORP.LTD. | Sep-2019 | 87.40 | 13.98 | 320.00 | 4,474.88 | 984.00 | 13,760.26 | 9,285.38 | 207.5 |
MAZAGON DOCK SHIPBUILDERS LTD. | Sep-2020 | 84.83 | 17.11 | 145.00 | 2,480.82 | 4,857.85 | 83,113.43 | 80,632.61 | 3250.24 |
INDIAN RAILWAY FINANCE CORP.LTD. | Jan-2021 | 86.36 | 1,128.64 | 26.00 | 29,344.74 | 183.45 | 2,07,049.69 | 1,77,704.95 | 605.58 |
RAILTEL CORP.OF INDIA LTD. | Feb-2021 | 72.84 | 23.38 | 94.00 | 2,197.58 | 485.05 | 11,339.74 | 9,142.16 | 416.01 |
LIFE INSURANCE CORP.OF INDIA | May-2022 | 96.50 | 610.36 | 949.00 | 5,79,233.80 | 1,180.40 | 7,20,471.63 | 1,41,237.83 | 24.38 |
TOTAL | 11,10,908.78 | 24,77,775.51 | 13,66,866.73 | 123.04 |
(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. 13,66,866.73 crore or 123.04% in these 28 IPOs as on 26.07.2024