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 11.06.2021 (Rs.) | VALUE OF GOVT. HOLDING AS ON 11.06.2021 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
| NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 118.75 | 87,633.16 | 41,879.43 | 91.53 |
| POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 130.50 | 13,447.37 | 4,688.54 | 53.53 |
| POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 246.30 | 89,527.79 | 70,626.30 | 373.65 |
| REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 161.40 | 11,339.00 | 3,962.33 | 53.71 |
| NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 26.85 | 28,523.75 | -9,720.38 | -25.42 |
| OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 142.30 | 2,683.77 | -17,119.18 | -86.45 |
| SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 29.30 | 10,904.37 | 1,228.14 | 12.69 |
| COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 162.65 | 92,462.09 | -46,813.80 | -33.61 |
| MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 193.25 | 2,597.28 | -2,442.72 | -48.47 |
| PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 20.35 | 372.52 | -1,824.15 | -83.04 |
| NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 54.70 | 590.76 | -554.04 | -48.4 |
| HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 53.65 | 9,645.41 | -1,141.63 | -10.58 |
| COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 412.80 | 4,208.57 | -195.74 | -4.44 |
| GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 196.85 | 14,812.96 | -53,815.04 | -78.42 |
| NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 169.85 | 11,957.44 | -44,362.55 | -78.77 |
| BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 361.10 | 5,807.55 | -1,075.94 | -15.63 |
| HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 1,045.65 | 31,458.92 | -5,025.10 | -13.77 |
| MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 203.20 | 2,816.99 | 1,569.31 | 125.78 |
| RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 277.40 | 4,848.95 | 1,615.15 | 49.95 |
| IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 48.20 | 404.20 | -3,579.07 | -89.85 |
| GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 205.25 | 1,751.63 | 744.60 | 73.94 |
| MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 275.25 | 1,254.61 | 707.64 | 129.37 |
| RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 31.80 | 5,824.37 | 2,344.40 | 67.37 |
| INDIAN RAILWAY CATERING & TOURISM CORP.LTD. | Sep-2019 | 87.40 | 13.98 | 320.00 | 4,474.88 | 2,093.75 | 29,279.00 | 24,804.12 | 554.3 |
| TOTAL | 4,97,651.84 | 4,64,152.46 | -33,499.38 | -6.73 |
(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. 33,499.38 crore or 6.73% in these 24 IPOs as on 11.06.2021