IPO lock-in expiry: Shares of 82 companies worth $32 billion set to hit the market by April

Over $32 billion worth of shares across 82 companies will become eligible for trading as their pre-listing shareholder lock-in periods expire between January 29 and April 30, 2025, according to brokerage Nuvama. While this unlock presents a potential supply influx, not all shares may be offloaded immediately, as a significant portion remains held by promoters and group investors. The lock-in expiries apply to companies listed until January 28, 2025.

1-month lock-in expiry

Companies with a one-month lock-in include Indo Farm Equipment, which will free 20 lakh shares, or 4% of its total outstanding shares, on February 3; Standard Glass Lining Tech will free 40 lakh shares, representing 2% of total outstanding shares, and Quadrant Future Tek will free 20 lakh shares, implying 6% of total shares on February 10.


Additionally, Capital Infra Trust will see its lock-in expire on February 13, releasing 7.1 crore shares, which represent 26% of its total outstanding shares, followed by Laxmi Dental, which will unlock 40 lakh shares, or 7%, on February 17 and Stallion India Fluorochemicals, which will free 30 lakh shares, or 4%, on February 21.

3-month lock-in expiry

A total of 16 stocks fall under the three-month lock-in category, including major names like Swiggy, which will free 7.84 crore shares, representing about 3.5% of its total outstanding shares, across multiple tranches: 30 lakh shares on January 29, 3 lakh shares on January 31, 6.52 crore shares on February 10, 1 lakh shares on February 19, and 1 crore shares on February 24.

Other significant unlocks include Niva Bupa Health Insurance, which will release 6.7 crore shares, or 4% of total shares, and ACME Solar Holdings, which will unlock 2.3 crore shares, or 4% of total shares, both expiring on February 10.

NTPC Green Energy will release 18.3 crore shares, representing 2% of its total outstanding shares, on February 24, and Enviro Infra Engineers will unlock 70 lakh shares, or 37% of total shares, on February 27.

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6-month and beyond lock-in expiry

In the six-month category, major unlocks include SBFC Finance, which will free 22.5 crore shares, representing 21% of its total outstanding shares, on February 11; TVS Supply Chain, which will release 9 crore shares, or 20% of total shares, on February 21; and Concord Biotech, which will free 2.1 crore shares, or 20%, on February 14.

Among companies with later lock-in expiries, Hyundai Motor India will unlock 50.8 crore shares, representing 62% of its total outstanding shares, on April 21, while Bajaj Housing Finance will release 529.1 crore shares, or 64% of total shares, on April 15. Waaree Energies is set to unlock 15.3 crore shares, or 53% of total shares, on April 25.

1-year and 1.5-year lock-in expiry

Among stocks with a one-year lock-in, BLS E Services will unlock 4.1 crore shares, or 45% of total shares, on February 6, while Juniper Hotels will release 12.8 crore shares, or 58% of total shares, and GPT Healthcare will free 3.7 crore shares, or 46% of total shares, both on February 27.

Companies under the 1.5-year lock-in category include Shree Tirupati Balajee, which will unlock 4.5 crore shares, or 55% of total shares, Manba Finance, which will free 2.7 crore shares, or 55% of total shares, and Tolins Tyres, which will release 2.1 crore shares, or 54% of total shares, unlocking between March and April 2025.

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