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 24.04.2024 (Rs.) | VALUE OF GOVT. HOLDING AS ON 24.04.2024 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 351.55 | 2,59,431.05 | 2,13,677.32 | 467.02 |
POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 402.10 | 41,434.39 | 32,675.56 | 373.06 |
POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 290.55 | 1,05,612.26 | 86,710.77 | 458.75 |
REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 440.00 | 30,911.76 | 23,535.09 | 319.05 |
NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 90.23 | 95,854.66 | 57,610.53 | 150.64 |
OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 608.50 | 11,476.28 | -8,326.67 | -42.05 |
SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 129.65 | 48,250.89 | 38,574.66 | 398.65 |
COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 443.45 | 2,52,089.23 | 1,12,813.35 | 81 |
MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 388.00 | 5,214.72 | 174.72 | 3.47 |
PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 60.62 | 1,109.69 | -1,086.98 | -49.48 |
NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 132.70 | 1,433.16 | 288.36 | 25.19 |
HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 198.50 | 35,687.13 | 24,900.09 | 230.83 |
COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 1,273.25 | 12,981.00 | 8,576.69 | 194.73 |
GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 327.30 | 24,629.33 | -43,998.67 | -64.11 |
NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 225.65 | 15,885.76 | -40,434.23 | -71.79 |
BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 2,043.95 | 32,872.70 | 25,989.21 | 377.56 |
HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 3,951.10 | 1,18,870.89 | 82,386.87 | 225.82 |
MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 442.50 | 6,134.45 | 4,886.77 | 391.67 |
RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 674.25 | 11,785.89 | 8,552.09 | 264.46 |
IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 241.40 | 2,024.34 | -1,958.93 | -49.18 |
GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 983.10 | 8,389.90 | 7,382.87 | 733.14 |
MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 877.95 | 4,001.77 | 3,454.80 | 631.63 |
RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 284.45 | 52,098.80 | 48,618.83 | 1397.11 |
INDIAN RAILWAY CATERING & TOURISM CORP.LTD. | Sep-2019 | 87.40 | 13.98 | 320.00 | 4,474.88 | 1,025.05 | 14,334.30 | 9,859.42 | 220.33 |
MAZAGON DOCK SHIPBUILDERS LTD. | Sep-2020 | 84.83 | 17.11 | 145.00 | 2,480.82 | 2,307.30 | 39,475.82 | 36,995.00 | 1491.24 |
INDIAN RAILWAY FINANCE CORP.LTD. | Jan-2021 | 86.36 | 1,128.64 | 26.00 | 29,344.74 | 148.95 | 1,68,111.48 | 1,38,766.74 | 472.88 |
RAILTEL CORP.OF INDIA LTD. | Feb-2021 | 72.84 | 23.38 | 94.00 | 2,197.58 | 395.95 | 9,256.72 | 7,059.14 | 321.22 |
LIFE INSURANCE CORP.OF INDIA | May-2022 | 96.50 | 610.36 | 949.00 | 5,79,233.80 | 990.65 | 6,04,655.39 | 25,421.59 | 4.39 |
TOTAL | 11,10,908.78 | 20,14,013.76 | 9,03,104.99 | 81.29 |
(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. 9,03,104.99 crore or 81.29% in these 28 IPOs as on 24.04.2024