IPO lock-in expiry: Senores Pharmaceutical, Ventive Hospitality, Carraro India crack 8% as shares freed up for trade

As many as 10 crore shares of these five companies have been freed up today.

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Shares of five newly listed companies are in focus after their pre-listing shareholder lock-ins lifted on March 26. As many as 10 crore shares, totalling $135 million, of these companies, which also include stocks like Ventive Hospitality, Tolins Tyres, and Senores Pharmaceuticals freed up for trade across various timeframes, according to Nuvama Alternative & Quantitative Research.

Between February 28 and April 30, a total of 64 companies are slated to have their lock-ins lifted, amounting to the value of $26 billion. While the value pertains to the total lock-up opening shares, 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 entities.

Three-Month Expiry:

• Ventive Hospitality will see its three-month lock-in period expire today, releasing 6 million shares for trade. These shares represent 2 percent of the company’s outstanding equity and have a lock-in value of approximately $47 million. At 12.45 pm, shares were trading lower by 5 percent at Rs 706.5.
• Senores Pharmaceuticals will also have its three-month lock-in expire as well, freeing up 3 million shares, which account for 7 percent of its total equity. The lock-in value of these shares stands at around $22 million. Shares pared intraday losses after falling seven percent to trade at Rs 577.6, down 2.4 percent.
• Similarly, Carraro India will see the end of its three-month lock-in today, unlocking 3 million shares, equivalent to 5 percent of its outstanding equity. The total lock-in value of these shares is estimated at $10 million. Shares cracked up to eight percent to hover near Rs 317 per share.

• Tolins Tyres will have its six-month lock-in period end on March 26, making 21 million shares available for trade. These shares constitute 54 percent of the company’s outstanding equity, with a lock-in value of approximately $29 million. The firm's stock dived 2.5 percent to Rs 115.
• Shree Tirupati Balajee will see the largest lock-in expiry of the day, with 45 million shares being released for trade. These shares represent 55 percent of its total outstanding equity, carrying a lock-in value of around $27 million. Shares sank 3.2 percent to Rs 47.50.