Over the next couple of months, the pre-listing lock-in on shares of 50 companies, worth around $13.9 billion, will be lifted, a good portion of which belong to promoters, data from Nuvama Research showed.
The lock-in on such shares will be lifted between now and January 31, 2025.
While such shares can potentially be sold, not all of them will make their way into the market, as promoters are likely to hold on to their stakes.
Of the companies where the one-month lock-in expires, Afcons Infrastructure has 18 million shares (or 5 per cent equity) whose lock-in expires next week; Sagility India has 158 million shares (or 3 per cent equity) with the lock-in expiring on December 9; Swiggy has 65 million shares (or 3 per cent equity) with the lock-in expiring on December 11; and NTPC Green Energy has 183 million shares (or 2 per cent equity).
With the 3-month lock-in expiry, more shares will potentially be freed up for sale, and one of the companies affected will be Hyundai Motor India on January 17, when 21 million shares (or 3 per cent of its equity) will become available. In January, 68 million shares of Swiggy (or over 3 per cent of its equity) will be freed up.
Shares that have been locked in for 5-6 months will also open up, and among the companies are the shares of flex space provider Awfis Space Solutions, with 39 million shares to be freed up today; 2 million shares of Stanley Lifestyles next week; and 170 million shares of Allied Blenders and Distillers on January 2.
The data shows that most of the companies on the list debuted at a decent premium over their issue price, and their current market price remains above it. If the price remains high at the time of lock-in expiry, there is scope for significant block deals, especially for strategic investors looking for gains on their investments.
