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 28.10.2024 (Rs.) | VALUE OF GOVT. HOLDING AS ON 28.10.2024 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 403.75 | 2,97,952.74 | 2,52,199.01 | 551.21 |
POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 450.50 | 46,421.77 | 37,662.94 | 430 |
POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 318.05 | 1,15,608.26 | 96,706.77 | 511.64 |
REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 523.05 | 36,746.35 | 29,369.68 | 398.14 |
NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 78.98 | 83,903.37 | 45,659.24 | 119.39 |
OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 476.60 | 8,988.66 | -10,814.29 | -54.61 |
SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 108.90 | 40,528.51 | 30,852.28 | 318.85 |
COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 441.65 | 2,51,065.98 | 1,11,790.10 | 80.27 |
MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 328.95 | 4,421.09 | -618.91 | -12.28 |
PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 48.60 | 889.65 | -1,307.02 | -59.5 |
NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 93.30 | 1,007.64 | -137.16 | -11.98 |
HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 204.10 | 36,693.93 | 25,906.89 | 240.17 |
COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 1,361.95 | 13,885.31 | 9,481.00 | 215.27 |
GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 360.50 | 27,127.63 | -41,500.37 | -60.47 |
NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 193.75 | 13,640.00 | -42,679.99 | -75.78 |
BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 1,047.75 | 16,850.89 | 9,967.40 | 144.8 |
HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 4,151.00 | 1,24,884.99 | 88,400.97 | 242.3 |
MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 324.95 | 4,504.83 | 3,257.15 | 261.06 |
RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 285.65 | 4,993.16 | 1,759.36 | 54.41 |
IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 201.05 | 1,685.97 | -2,297.30 | -57.67 |
GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 1,521.60 | 12,985.52 | 11,978.49 | 1189.49 |
MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 638.35 | 2,909.65 | 2,362.68 | 431.96 |
RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 432.70 | 79,251.72 | 75,771.75 | 2177.37 |
INDIAN RAILWAY CATERING & TOURISM CORP.LTD. | Sep-2019 | 87.40 | 13.98 | 320.00 | 4,474.88 | 821.00 | 11,480.86 | 7,005.98 | 156.56 |
MAZAGON DOCK SHIPBUILDERS LTD. | Sep-2020 | 84.83 | 17.11 | 145.00 | 2,480.82 | 4,012.45 | 68,649.40 | 66,168.58 | 2667.21 |
INDIAN RAILWAY FINANCE CORP.LTD. | Jan-2021 | 86.36 | 1,128.64 | 26.00 | 29,344.74 | 143.50 | 1,61,960.37 | 1,32,615.63 | 451.92 |
RAILTEL CORP.OF INDIA LTD. | Feb-2021 | 72.84 | 23.38 | 94.00 | 2,197.58 | 404.10 | 9,447.25 | 7,249.67 | 329.89 |
LIFE INSURANCE CORP.OF INDIA | May-2022 | 96.50 | 610.36 | 949.00 | 5,79,233.80 | 915.30 | 5,58,664.59 | -20,569.21 | -3.55 |
TOTAL | 11,10,908.78 | 20,37,150.09 | 9,26,241.32 | 83.38 |
(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. 9,26,241.32 crore or 83.38% in these 28 IPOs as on 28.10.2024