Major IPO Lock-In Expiries Scheduled for June, Unfettering Billions in Tradable Shares
India's Primary Market to See Busy Month of Lock-in Expiries
India's primary market is gearing up for a busy month with the upcoming lock-in expiries of shares from 35 recently listed companies. According to data compiled by Nuvama Alternative & Quantitative Research, a total of 35 companies will see their lock-in expiries become eligible for trading during June.
Notable Companies to See Lock-in Expiries
On June 1, four companies - Omnitech Engineering, Belrise Industries, Enviro Infra Engineers, and Schloss Bangalore (the group behind Leela Hotels) - will see their shares unlock for trading. Notably, Belrise Industries will see over 47 crore shares worth more than $1 billion becoming tradable. Schloss Bangalore and Enviro Infra Engineers will follow at around $811 million and $80 million respectively.
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| Company | Number of Shares | Value (in $ millions) |
|---|---|---|
| Belrise Industries | 47 crore | 1000 |
| Schloss Bangalore | - | 811 |
| Enviro Infra Engineers | - | 80 |
In another significant development, Meesho will see early 30 crore shares (~$6.3 billion worth) unlock on June 10. The company had a strong debut in December after listing at a 46% premium to its issue price. However, since then, the firm has given up most of those gains and now trades below its IPO price.
Larger Expiries to Watch
Among the larger expiries, ICICI Prudential AMC is set for two separate unlock events this month. Around 20 lakh shares worth nearly $80 million will become tradable on June 10, while a much larger tranche of approximately 3.4 crore shares valued at about $1.2 billion is scheduled for release on June 19.
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| Company | Date | Number of Shares | Value (in $ millions) |
|---|---|---|---|
| ICICI Prudential AMC | June 10 | 20 lakh | 80 |
| ICICI Prudential AMC | June 19 | 3.4 crore | 1200 |
Other notable companies scheduled for lock-in expiries during June include Vidya Wires, Corona Remedies, IKIO Lighting, Park Medi World, Nephro Care Health Services, Sai Life Sciences, Inventurus Knowledge Solutions, One Mobikwik Systems, and GSP Crop Science, among others.
Investor Takeaway
Investors should be prepared for potential market fluctuations as billions of dollars in tradable shares become available.
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