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 20.05.2022 (Rs.) | VALUE OF GOVT. HOLDING AS ON 20.05.2022 (Rs. crore) | GAIN/ LOSS (Rs. crore) |
% GAIN/ LOSS |
| NTPC LTD. | Oct-2004 | 89.50 | 737.96 | 62.00 | 45,753.73 | 149.50 | 1,10,325.53 | 64,571.80 | 141.13 |
| POWER FINANCE CORP.LTD. | Jan-2007 | 89.78 | 103.05 | 85.00 | 8,758.83 | 108.90 | 11,221.60 | 2,462.77 | 28.12 |
| POWER GRID CORP.OF INDIA LTD. | Sep-2007 | 86.36 | 363.49 | 52.00 | 18,901.49 | 229.05 | 83,257.58 | 64,356.09 | 340.48 |
| REC LTD. | Feb-2008 | 81.82 | 70.25 | 105.00 | 7,376.67 | 117.80 | 8,275.92 | 899.25 | 12.19 |
| NHPC LTD. | Aug-2009 | 86.36 | 1,062.34 | 36.00 | 38,244.13 | 32.00 | 33,994.78 | -4,249.35 | -11.11 |
| OIL INDIA LTD. | Sep-2009 | 78.43 | 18.86 | 1,050.00 | 19,802.95 | 239.55 | 4,517.90 | -15,285.05 | -77.19 |
| SJVN LTD. | Apr-2010 | 89.97 | 372.16 | 26.00 | 9,676.23 | 27.90 | 10,383.34 | 707.11 | 7.31 |
| COAL INDIA LTD. | Oct-2010 | 89.99 | 568.47 | 245.00 | 1,39,275.89 | 185.90 | 1,05,679.08 | -33,596.81 | -24.12 |
| MOIL LTD. | Nov-2010 | 80.00 | 13.44 | 375.00 | 5,040.00 | 167.60 | 2,252.54 | -2,787.46 | -55.31 |
| PUNJAB & SIND BANK | Dec-2010 | 82.07 | 18.31 | 120.00 | 2,196.67 | 15.55 | 284.65 | -1,912.02 | -87.04 |
| NBCC (INDIA) LTD. | Mar-2012 | 90.00 | 10.80 | 106.00 | 1,144.80 | 34.10 | 368.28 | -776.52 | -67.83 |
| HOUSING & URBAN DEVELOPMENT CORP.LTD. | May-2017 | 89.81 | 179.78 | 60.00 | 10,787.04 | 33.85 | 6,085.69 | -4,701.35 | -43.58 |
| COCHIN SHIPYARD LTD. | Aug-2017 | 75.00 | 10.20 | 432.00 | 4,404.31 | 324.15 | 3,304.76 | -1,099.55 | -24.97 |
| GENERAL INSURANCE CORP.OF INDIA | Oct-2017 | 85.78 | 75.25 | 912.00 | 68,628.00 | 114.00 | 8,578.50 | -60,049.50 | -87.5 |
| NEW INDIA ASSURANCE CO.LTD.,THE | Nov-2017 | 85.44 | 70.40 | 800.00 | 56,319.99 | 104.00 | 7,321.60 | -48,998.39 | -87 |
| BHARAT DYNAMICS LTD. | Mar-2018 | 87.75 | 16.08 | 428.00 | 6,883.49 | 761.10 | 12,240.72 | 5,357.23 | 77.83 |
| HINDUSTAN AERONAUTICS LTD. | Mar-2018 | 89.97 | 30.09 | 1,215.00 | 36,484.02 | 1,757.75 | 52,882.82 | 16,398.80 | 44.95 |
| MISHRA DHATU NIGAM LTD. | Mar-2018 | 74.00 | 13.86 | 90.00 | 1,247.68 | 177.30 | 2,457.94 | 1,210.26 | 97 |
| RITES LTD. | Jun-2018 | 87.40 | 17.48 | 185.00 | 3,233.80 | 250.80 | 4,383.98 | 1,150.18 | 35.57 |
| IRCON INTERNATIONAL LTD. | Sep-2018 | 89.16 | 8.39 | 475.00 | 3,983.27 | 39.60 | 332.08 | -3,651.19 | -91.66 |
| GARDEN REACH SHIPBUILDERS & ENGINEERS LTD. | Sep-2018 | 74.50 | 8.53 | 118.00 | 1,007.03 | 309.90 | 2,644.73 | 1,637.70 | 162.63 |
| MSTC LTD. | Mar-2019 | 64.75 | 4.56 | 120.00 | 546.97 | 308.70 | 1,407.08 | 860.11 | 157.25 |
| RAIL VIKAS NIGAM LTD. | Mar-2019 | 87.84 | 183.16 | 19.00 | 3,479.97 | 31.80 | 5,824.37 | 2,344.40 | 67.37 |
| INDIAN RAILWAY CATERING & TOURISM CORP.LTD. | Sep-2019 | 87.40 | 13.98 | 320.00 | 4,474.88 | 662.25 | 9,260.90 | 4,786.02 | 106.95 |
| MAZAGON DOCK SHIPBUILDERS LTD. | Sep-2020 | 84.83 | 17.11 | 145.00 | 2,480.82 | 296.85 | 5,078.84 | 2,598.02 | 104.72 |
| INDIAN RAILWAY FINANCE CORP.LTD. | Jan-2021 | 86.36 | 1,128.64 | 26.00 | 29,344.74 | 21.50 | 24,265.84 | -5,078.90 | -17.31 |
| RAILTEL CORP.OF INDIA LTD. | Feb-2021 | 72.84 | 23.38 | 94.00 | 2,197.58 | 97.75 | 2,285.25 | 87.67 | 3.99 |
| TOTAL | 5,31,674.98 | 5,18,916.30 | -12,758.68 | -2.40 |
(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. 12,758.68 crore or 2.40% in these 27 IPOs as on 20.05.2022