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 16.09.2019 (Rs.) | VALUE OF GOVT. HOLDING AS ON 16.09.2019 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
| NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 123.10 | 90,843.30 | 45,089.57 | 98.55 |
| POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 110.25 | 11,360.71 | 2,601.88 | 29.71 |
| POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 202.05 | 73,443.32 | 54,541.83 | 288.56 |
| REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 143.25 | 10,063.89 | 2,687.22 | 36.43 |
| NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 24.10 | 25,602.32 | -12,641.81 | -33.06 |
| OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 153.45 | 2,894.06 | -16,908.89 | -85.39 |
| SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 25.95 | 9,657.62 | -18.61 | -0.19 |
| COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 200.55 | 1,14,007.21 | -25,268.68 | -18.14 |
| MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 122.35 | 1,644.38 | -3,395.62 | -67.37 |
| PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 20.20 | 369.77 | -1,826.90 | -83.17 |
| NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 37.65 | 406.62 | -738.18 | -64.48 |
| HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 38.70 | 6,957.64 | -3,829.40 | -35.5 |
| COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 352.65 | 3,595.33 | -808.98 | -18.37 |
| GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 185.35 | 13,947.59 | -54,680.41 | -79.68 |
| NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 107.15 | 7,543.36 | -48,776.63 | -86.61 |
| BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 285.55 | 4,592.48 | -2,291.01 | -33.28 |
| HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 730.20 | 21,968.45 | -14,515.57 | -39.79 |
| MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 131.20 | 1,818.85 | 571.17 | 45.78 |
| RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 236.95 | 4,141.89 | 908.09 | 28.08 |
| IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 340.55 | 2,855.80 | -1,127.47 | -28.31 |
| TOTAL | 4,88,142.99 | 4,07,714.59 | -80,428.40 | -16.48 |
(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. 80,428.40 crore or 16.48% in these 20 IPOs as on 16.09.2019