Pre-listing lock-ins of 101 companies to expire in three months: Nuvama

Pre-listing shareholder lock-ins in 101 companies will be lifted between December 29, 2025, and March 2026, covering shares worth $23 billion, though not all may hit the market

A total of 101 companies are slated to have their pre-listing shareholder lock-ins lifted,  from December 29, 2025, to March 2026, according to an analysis by Nuvama Institutional Equities. The value of the shares whose lock-ins are expiring is $23 billion. 

However, not all of these shares will come to market, as the promoters and promoter groups also hold a sizable portion.  For some shares, their one-month lock-in is expiring, and for some others, their three or six-month lock-ins are coming to an end. The stocks with a one-month lock-in expiring include ICICI Prudential AMC, Meesho, and Nephrocare Health Services. Three-month loans in Tata Capital, Canara HSBC Life Insurance, Lenskart Solutions, among others, are expiring. 

 

“ We had a record number of IPO issuances this year, and that’s the reason so many IPO lock-ins are expiring in the next three months. And the non-promoter portion of these shares might get sold when he lock-in expires. These are shares typically held by institutional or high-net-worth individual investors,” said Ambareesh Baliga, an independent equity analyst.