Lock-up on nearly Rs 1.2 trillion pre-IPO shares to lift in two months

The expiry of the lock-in period could have implications for these companies, as some investors might look to sell their holdings

Lock up on shares worth nearly Rs 1.2 trillion ($14 billion) belonging to 50 companies will end between now and January 31, said Nuvama Institutional Equities in a note. Most of the shares are held by promoters, strategic investors or pre-listing shareholders in companies that have gone public in recent weeks or months.

 

Some of the key stocks where lock up period is set to expire over the next two months are food delivery major Swiggy (3 per cent equity), Shapoorji Pallonji Group’s Afcons Infrastructure (5 per cent) and state-owned renewable energy firm NTPC Green (2 per cent).

 

The expiry of lock in period could have implications for these companies as some investors might look to sell their holdings. Also, end of expiry could also result in higher weightage for these stocks in some of the global indices.

 

 

“The value pertains to the total lock-up opening shares, but it’s important to note that not all of these shares will come for sale as a sizable portion of these shares are also held by promoter and group,” said the Nuvama note.

 

Half of the shares allotted to investors in the anchor category ahead of an IPO 30-day lock up, while the remaining half have a 90-day lock up. Meanwhile, certain shares held pre-listing could be subject to a six, 12 or 18-month lock up.   

Enviro Infra jumps 40% in debut trade  Shares of sewage treatment solutions provider Enviro Infra Engineers ended with a premium of nearly 40 per cent against the issue price of Rs 148 on Friday. The stock saw a jump of 47.29 per cent from the issue price on the BSE.

  During the day, it soared 57.77 per cent to Rs 233.50. Shares of the firm ended at Rs 207, rallying 39.86 per cent.

 

Suraksha Diagnostic booked 11% on 1st day  The IPO of Suraksha Diagnostic got subscribed 11 per cent on the first day of share sale on Friday. The share sale received bids for 1.45 million shares against 13.43 million shares on offer. Retail investors part got subscribed 20 per cent and non-institutional investors category received 4 per cent subscription.   

Vijay Chandok joins NSDL as MD & CEO 

The National Securities Depository Ltd (NSDL) on Friday said Vijay Chandok, a financial market veteran, has joined as its managing director (MD) and chief executive officer (CEO). Prior to joining NSDL, Chandok served as the MD and CEO of ICICI Securities.

 

He held pivotal roles at the ICICI Group, including on the board of ICICI Bank as an executive director. A seasoned banker and a financial market veteran with over three decades of experience, Chandok brings a wealth of expertise in the BFSI sector, NSDL said. 

  (With inputs from PTI)