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 21.11.2024 (Rs.) | VALUE OF GOVT. HOLDING AS ON 21.11.2024 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
| NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 356.10 | 2,62,788.78 | 2,17,035.05 | 474.35 |
| POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 453.75 | 46,756.67 | 37,997.84 | 433.82 |
| POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 325.80 | 1,18,425.31 | 99,523.82 | 526.54 |
| REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 491.05 | 34,498.23 | 27,121.56 | 367.67 |
| NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 79.36 | 84,307.05 | 46,062.92 | 120.44 |
| OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 486.15 | 9,168.77 | -10,634.18 | -53.7 |
| SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 103.50 | 38,518.83 | 28,842.60 | 298.08 |
| COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 406.15 | 2,30,885.20 | 91,609.32 | 65.78 |
| MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 288.15 | 3,872.74 | -1,167.26 | -23.16 |
| PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 46.39 | 849.20 | -1,347.47 | -61.34 |
| NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 88.13 | 951.80 | -193.00 | -16.86 |
| HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 201.15 | 36,163.56 | 25,376.52 | 235.25 |
| COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 1,295.70 | 13,209.88 | 8,805.57 | 199.93 |
| GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 366.20 | 27,556.55 | -41,071.45 | -59.85 |
| NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 170.50 | 12,003.20 | -44,316.79 | -78.69 |
| BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 926.70 | 14,904.05 | 8,020.56 | 116.52 |
| HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 3,983.20 | 1,19,836.64 | 83,352.62 | 228.46 |
| MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 310.55 | 4,305.20 | 3,057.52 | 245.06 |
| RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 273.85 | 4,786.90 | 1,553.10 | 48.03 |
| IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 185.80 | 1,558.09 | -2,425.18 | -60.88 |
| GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 1,381.05 | 11,786.05 | 10,779.02 | 1070.38 |
| MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 615.95 | 2,807.55 | 2,260.58 | 413.29 |
| RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 421.65 | 77,227.85 | 73,747.88 | 2119.21 |
| INDIAN RAILWAY CATERING & TOURISM CORP.LTD. | Sep-2019 | 87.40 | 13.98 | 320.00 | 4,474.88 | 793.95 | 11,102.60 | 6,627.72 | 148.11 |
| MAZAGON DOCK SHIPBUILDERS LTD. | Sep-2020 | 84.83 | 17.11 | 145.00 | 2,480.82 | 4,006.20 | 68,542.47 | 66,061.65 | 2662.9 |
| INDIAN RAILWAY FINANCE CORP.LTD. | Jan-2021 | 86.36 | 1,128.64 | 26.00 | 29,344.74 | 141.60 | 1,59,815.95 | 1,30,471.21 | 444.62 |
| RAILTEL CORP.OF INDIA LTD. | Feb-2021 | 72.84 | 23.38 | 94.00 | 2,197.58 | 364.60 | 8,523.80 | 6,326.22 | 287.87 |
| LIFE INSURANCE CORP.OF INDIA | May-2022 | 96.50 | 610.36 | 949.00 | 5,79,233.80 | 882.25 | 5,38,492.12 | -40,741.68 | -7.03 |
| INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LTD. | Nov-2023 | 75.00 | 201.58 | 32.00 | 6,450.64 | 184.60 | 37,212.10 | 30,761.46 | 476.87 |
| TOTAL | 11,17,359.42 | 19,80,857.14 | 8,63,497.73 | 77.28 |
(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. 8,63,497.73 crore or 77.28% in these 29 IPOs as on 21.11.2024