Ather Energy to Borana Weaves: IPO-lock-in expiry for 61 companies to release $21 bn worth of shares in 4 months

IPO lock-in expiry: A total of 61 companies are slated to have their pre-listing shareholder lock-ins lifted between May 28, 2025 and September 22, 2025, which could potentially free up shares amounting to $21 billion, according to a report by domestic brokerage Nuvama Alternative & Quantitative Research.

Some of the key companies that will witness IPO lock-in expiries include recently listed Ather Energy and Borana Weaves.

While the value of shares set to be open for trading pertains to the total lock-up opening shares, it's important to understand that not all of these shares will be sold. This is because a sizable portion of these shares is also held by the promoter and promoter group companies.

Nuvama said it has only considered those companies that got listed on the Indian stock exchanges by May 26, 2025.

The lock-in period for an IPO is a specified duration during which certain shareholders, like promoters and anchor investors, are prohibited from selling their shares.

These lock-in regulations are designed to promote stock price stability and allow the company time to establish itself in the market after its IPO. The duration of the IPO lock-in period varies depending on the category of investor — such as promoters, anchor investors, and non-promoter shareholders.

IPO lock-in expiry details

Here is a detailed list of companies set to face IPO lock-in expiry over the next few months:

1 and 3-month lock-in expiries

Only Ather Energy and Borana Weaves shares are among those that will see one-month and three-month IPO lock-in expiries.

Around 21 million shares of Ather Energy will be available for trade on June 2, followed by another 21 million on July 31.

Meanwhile, 2 million shares of Borana Weaves will be available for trading on June 23, and an additional 2 million will be up for trading on August 21.

Ather Energy shares are currently trading below their IPO price of ₹321 apiece. The stock had listed at ₹328 in May. Meanwhile, Borana Weaves stock had listed two days ago at ₹243 as against the IPO price of ₹216. Today, the stock closed the session at ₹232.55, below its listing price but above the issue price.

6-month lock-in expiry

Some 28 companies will see their six-month IPO lock-in expiry between June 2 and August 18. Enviro Infra, Vishal Mega Mart, Sai Life Sciences, Mamata Machinery, Unichem Aerospace and Dr Agarwal's Health Care are some of the companies up for six-month lock-in expiries.

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