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 27.10.2020 (Rs.) | VALUE OF GOVT. HOLDING AS ON 27.10.2020 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
| NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 89.45 | 66,010.83 | 20,257.10 | 44.27 |
| POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 88.60 | 9,129.79 | 370.96 | 4.24 |
| POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 173.60 | 63,102.01 | 44,200.52 | 233.85 |
| REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 102.20 | 7,179.96 | -196.71 | -2.67 |
| NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 20.20 | 21,459.20 | -16,784.93 | -43.89 |
| OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 88.10 | 1,661.56 | -18,141.39 | -91.61 |
| SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 21.80 | 8,113.15 | -1,563.08 | -16.15 |
| COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 113.65 | 64,606.93 | -74,668.96 | -53.61 |
| MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 132.05 | 1,774.75 | -3,265.25 | -64.79 |
| PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 10.73 | 196.42 | -2,000.25 | -91.06 |
| NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 22.90 | 247.32 | -897.48 | -78.4 |
| HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 32.25 | 5,798.04 | -4,989.00 | -46.25 |
| COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 350.85 | 3,576.98 | -827.33 | -18.78 |
| GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 120.20 | 9,045.05 | -59,582.95 | -86.82 |
| NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 101.85 | 7,170.24 | -49,149.75 | -87.27 |
| BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 300.40 | 4,831.31 | -2,052.18 | -29.81 |
| HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 700.25 | 21,067.38 | -15,416.64 | -42.26 |
| MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 177.40 | 2,459.32 | 1,211.64 | 97.11 |
| RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 240.40 | 4,202.19 | 968.39 | 29.95 |
| IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 78.15 | 655.35 | -3,327.92 | -83.55 |
| GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 196.15 | 1,673.97 | 666.94 | 66.23 |
| MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 152.05 | 693.06 | 146.09 | 26.71 |
| RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 18.55 | 3,397.55 | -82.42 | -2.37 |
| INDIAN RAILWAY CATERING & TOURISM CORP.LTD. | Sep-2019 | 87.40 | 13.98 | 320.00 | 4,474.88 | 1,325.60 | 18,537.19 | 14,062.31 | 314.25 |
| TOTAL | 4,97,651.84 | 3,26,589.55 | -1,71,062.29 | -34.37 |
(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. 1,71,062.29 crore or 34.37% in these 24 IPOs as on 27.10.2020