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 17.05.2022 (Rs.) | VALUE OF GOVT. HOLDING AS ON 17.05.2022 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
| NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 150.45 | 1,11,026.60 | 65,272.87 | 142.66 |
| POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 109.40 | 11,273.12 | 2,514.29 | 28.71 |
| POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 238.70 | 86,765.26 | 67,863.77 | 359.04 |
| REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 118.75 | 8,342.66 | 965.99 | 13.1 |
| NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 32.90 | 34,950.88 | -3,293.25 | -8.61 |
| OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 241.70 | 4,558.45 | -15,244.50 | -76.98 |
| SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 27.90 | 10,383.34 | 707.11 | 7.31 |
| COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 184.60 | 1,04,940.07 | -34,335.82 | -24.65 |
| MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 162.55 | 2,184.67 | -2,855.33 | -56.65 |
| PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 15.15 | 277.33 | -1,919.34 | -87.37 |
| NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 34.25 | 369.90 | -774.90 | -67.69 |
| HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 32.70 | 5,878.94 | -4,908.10 | -45.5 |
| COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 327.30 | 3,336.88 | -1,067.43 | -24.24 |
| GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 116.40 | 8,759.10 | -59,868.90 | -87.24 |
| NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 105.65 | 7,437.76 | -48,882.23 | -86.79 |
| BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 711.30 | 11,439.79 | 4,556.30 | 66.19 |
| HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 1,671.20 | 50,278.92 | 13,794.90 | 37.81 |
| MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 177.00 | 2,453.78 | 1,206.10 | 96.67 |
| RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 251.90 | 4,403.21 | 1,169.41 | 36.16 |
| IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 39.75 | 333.34 | -3,649.93 | -91.63 |
| GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 305.60 | 2,608.03 | 1,601.00 | 158.98 |
| MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 307.15 | 1,400.01 | 853.04 | 155.96 |
| RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 32.10 | 5,879.32 | 2,399.35 | 68.95 |
| INDIAN RAILWAY CATERING & TOURISM CORP.LTD. | Sep-2019 | 87.40 | 13.98 | 320.00 | 4,474.88 | 683.10 | 9,552.47 | 5,077.59 | 113.47 |
| MAZAGON DOCK SHIPBUILDERS LTD. | Sep-2020 | 84.83 | 17.11 | 145.00 | 2,480.82 | 292.55 | 5,005.27 | 2,524.45 | 101.76 |
| INDIAN RAILWAY FINANCE CORP.LTD. | Jan-2021 | 86.36 | 1,128.64 | 26.00 | 29,344.74 | 21.55 | 24,322.27 | -5,022.47 | -17.12 |
| RAILTEL CORP.OF INDIA LTD. | Feb-2021 | 72.84 | 23.38 | 94.00 | 2,197.58 | 100.50 | 2,349.54 | 151.96 | 6.91 |
| TOTAL | 5,31,674.98 | 5,20,510.91 | -11,164.07 | -2.10 |
(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. 11,164.07 crore or 2.10% in these 27 IPOs as on 17.05.2022