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 16.08.2022 (Rs.) | VALUE OF GOVT. HOLDING AS ON 16.08.2022 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
| NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 158.50 | 1,16,967.21 | 71,213.48 | 155.65 |
| POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 120.15 | 12,380.86 | 3,622.03 | 41.35 |
| POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 228.75 | 83,148.53 | 64,247.04 | 339.9 |
| REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 137.35 | 9,649.39 | 2,272.72 | 30.81 |
| NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 34.50 | 36,650.62 | -1,593.51 | -4.17 |
| OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 190.65 | 3,595.65 | -16,207.30 | -81.84 |
| SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 28.55 | 10,625.24 | 949.01 | 9.81 |
| COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 222.90 | 1,26,712.57 | -12,563.32 | -9.02 |
| MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 163.65 | 2,199.46 | -2,840.54 | -56.36 |
| PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 15.01 | 274.77 | -1,921.90 | -87.49 |
| NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 33.20 | 358.56 | -786.24 | -68.68 |
| HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 38.00 | 6,831.79 | -3,955.25 | -36.67 |
| COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 335.95 | 3,425.07 | -979.24 | -22.23 |
| GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 122.30 | 9,203.08 | -59,424.92 | -86.59 |
| NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 92.45 | 6,508.48 | -49,811.51 | -88.44 |
| BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 852.35 | 13,708.29 | 6,824.80 | 99.15 |
| HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 2,297.95 | 69,135.02 | 32,651.00 | 89.49 |
| MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 180.25 | 2,498.83 | 1,251.15 | 100.28 |
| RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 275.90 | 4,822.73 | 1,588.93 | 49.14 |
| IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 40.60 | 340.47 | -3,642.80 | -91.45 |
| GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 277.90 | 2,371.63 | 1,364.60 | 135.51 |
| MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 249.15 | 1,135.65 | 588.68 | 107.63 |
| RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 31.00 | 5,677.84 | 2,197.87 | 63.16 |
| INDIAN RAILWAY CATERING & TOURISM CORP.LTD. | Sep-2019 | 87.40 | 13.98 | 320.00 | 4,474.88 | 668.20 | 9,344.11 | 4,869.23 | 108.81 |
| MAZAGON DOCK SHIPBUILDERS LTD. | Sep-2020 | 84.83 | 17.11 | 145.00 | 2,480.82 | 319.50 | 5,466.36 | 2,985.54 | 120.34 |
| INDIAN RAILWAY FINANCE CORP.LTD. | Jan-2021 | 86.36 | 1,128.64 | 26.00 | 29,344.74 | 21.35 | 24,096.54 | -5,248.20 | -17.88 |
| RAILTEL CORP.OF INDIA LTD. | Feb-2021 | 72.84 | 23.38 | 94.00 | 2,197.58 | 99.80 | 2,333.17 | 135.59 | 6.17 |
| TOTAL | 5,31,674.98 | 5,69,461.92 | 37,786.94 | 7.11 |
(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. 37,786.94 crore or 7.11% in these 27 IPOs as on 16.08.2022