IPO Lock-In Expiry: Shares Worth $14 Billion Across 91 Companies to Unlock by December

Shares worth about $14 billion across 91 recently listed companies are set to become eligible for trading by the end of December as shareholder lock-in periods expire, starting with a string of sizeable unlocks in October, according to data from Nuvama Alternative & Quantitative Research cited by The Economic Times.

Central Mine Planning & Design Institute (CMPDI) is among the first major names on the calendar, with 464 million shares set to come out of lock-in on October 6. That represents about 65% of the company's outstanding equity, making it one of the biggest upcoming unlocks by proportion of shares.

The October calendar began on October 5 with lock-in expiries at Amir Chand Jagdish Kumar, Sai Parenteral and Purple Style Labs. About 62 million shares of Amir Chand Jagdish Kumar became eligible for trading, representing 60% of its outstanding equity, while Sai Parenteral saw 21 million shares, or 48%, come out of lock-in. The expiry at Purple Style Labs covered 3 million shares, equivalent to about 3% of its equity.

The next set of unlocks will come later this month. Rentomojo has 5 million shares, or around 4% of its outstanding equity, becoming eligible for trading on October 15, followed by SBI Funds Management on October 16 with 23 million shares, representing around 1% of its equity.

The $14 billion figure reflects the value of shares becoming eligible for trading once these restrictions end. It does not represent shares that will necessarily be sold, as promoters and other shareholders can continue to hold their stakes after the lock-in expires.

NSE Among Stocks With Lock-In Expiry in November

The flow of shares becoming eligible for trading will continue into November. Juniper Green Energy has 12 million shares, representing around 2% of its outstanding equity, scheduled to come out of lock-in on November 2.

Dhoot Transmission follows on November 11 with 5 million shares, or around 3% of its equity, while Milky Mist Dairy Food will see 17 million shares become eligible on November 12, representing around 2% of its outstanding shares.

NSE of India is also on the November calendar. About 1 million NSE shares are scheduled to come out of lock-in on November 20, though the number represents only around 0.1% of its outstanding equity.

CMR Green, Hexagon Nutrition and Turtlemint Unlocks Due in December

Some of the larger lock-in expiries by percentage of equity are scheduled towards the end of the year. CMR Green Technologies will see 142 million shares become eligible for trading on December 9, equivalent to about 65% of its outstanding equity.

That will be followed by Hexagon Nutrition, where 67 million shares, or around 54% of the company's equity, are scheduled to come out of lock-in on December 15. Turtlemint Fintech Solutions has another sizeable expiry on December 28, when 160 million shares representing around 54% of its outstanding equity will become eligible for trading.

The lock-in expiry calendar runs through December 29 and covers 91 companies listed up to September 30. While the combined value of the shares is estimated at about $14 billion, the amount that eventually reaches the market will depend on whether shareholders choose to sell once their respective lock-ins end.

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