IPO lock-in expiry for Bajaj Housing, Ola Electric & 41 other companies to release $18.8 bn worth of shares in market

Pre-IPO lock-in expiry: A total of 43 companies are slated to have their pre-listing shareholder lock-ins lifted in the remaining part of the calendar year 2024 i.e. October 8 to December 31, which could potentially free up shares amounting to $18.8 billion, according to a report by domestic brokerage Nuvama Alternative & Quantitative Research.

While the figure reflects the total value of lock-up shares, it’s worth noting that not all of these shares will come for sale as a large portion is also held by promoter and group entities, the brokerage note said.

Moreover, this data pertains to companies listed until October 4.

The lock-in period for an initial public offering (IPO) is a specified duration during which certain investors are prohibited from selling their shares. These lock-in regulations aim to maintain stability in the stock price and give the company a chance to establish itself in the market post-IPO. The IPO lock-in period varies for promoters, anchor investors and non-promoter groups.

IPO lock-in expiry details

Here’s a detailed list of companies set to exit their IPO lock-in period:

1-month share lock-in opening

According to the report, Shree Tirupati Balajee, Tolins Tyres, Bajaj Housing Finance, Kross, P N Gadgil Jewellers, Western Carriers, Arkade Developers, Northern Arc Capital, Manba Finance, KRN Heat Exchanger and Diffusion Engineers will see the one-month lock-in expiry. The lock-in period for these investors will end between October 10 and October 31. The largest portion of shares will be unlocked in the case of Baja Housing Finance, with 126 million shares.

3-months share lock-in opening

A total of 23 companies will see a three-month pre-IPO lock-in expiry. These include Sanstar, Akums Drugs and Pharma, Ceigall India, Ola Electric Mobility, Unicommerce Esolutions, Brainbees, Interarch Building Products, Orient Technologies, Premier Energies, Ecos (India) Mobility, Gala Precision, Baazar Style, Tolins Tyres, Shree Tirupati Balajee, Kross, Bajaj Housing Finance, Western Carriers, P N Gadgil Jewellers, Northern Arc Capital, Arkade Developers, KRN Heat Exchanger, Manba Finance and Diffusion Engineers.

5 & 6 months share lock-in opening

Nuvama estimates expiry of 5 & 6-month lock-in of shares in Bharti Hexacom, JNK India, Indegene, TBO TEK, Aadhar Housing Finance, Go Digit General Insurance, Awfis Space Solutions, Kronox Lab Sciences, Le Travenues Technology, Akme Fintrade, DEE Development Engineers and Stanley Lifestyles between October 11 and December 30.

1-year and beyond share lock-in opening

IRM Energy, Flair Writing Inds, DOMS Industries, Happy Forging and Azad Engineering are among five companies that will see one-year lock-in expiry of their pre-IPO shares.

Meanwhile, only three companies will see 1.5 years and beyond share lock-in opening. Udayshivakumar Infra and Avalon’s respective lock-in expiries are slated for October while Mankind Pharma’s is scheduled for November.

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