IPO lock-in expiry: Shares worth $350 million from 8 companies freed up for trade

Shares of eight newly listed companies are in focus after their pre-listing shareholder lock-ins lifted on March 24. As many as 20 crore shares, totalling $357 million, of these eight companies, which also include stocks like Northern Arc Capital, Sahmi Hotels, Mamata Machinery, and DAM Capital Advisors, 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.

1-Month Expiry:

• Quality Power Electrical's one-month lock-in period ends today, making 5 million shares available for trading. These shares account for 6 percent of the company’s total equity and have an estimated lock-in value of $21 million. Shares tumbled one percent at around 9.20 am.

• Sanathan Textiles will have 3 million shares released into the market today as its three-month lock-in period concludes. This represents 3 percent of its outstanding equity, with a lock-in value of about $9 million. The firm's stock slipped three percent to trade at Rs 332.95 on the NSE.|


• Mamata Machinery’s three-month lock-in period expires today, allowing 1 million shares to be freely traded. These shares constitute 4 percent of the company’s equity, carrying a lock-in value of approximately $5 million. Shares of the recently listed firm were trading higher by a percent.


• DAM Capital Advisors is set to see its three-month lock-in phase end today, bringing 4 million shares into open trade. These shares make up 6 percent of the firm’s total equity, valued at around $12 million. DAM Capital shares sank around 1.8 percent to quote Rs 227.22 per share at 9.20 am.


• With its three-month lock-in period coming to an end today, Concord Enviro Systems will have 1 million shares entering the market. This represents 5 percent of its outstanding equity, with a lock-in value of $5 million. Shares of the firm were higher by 2.8 percent at Rs 553 per share on the NSE.

• Sahmi Hotels will see 34 million shares unlocked today as its six-month lock-in period expires. These shares represent 16 percent of the company’s total equity and have an estimated lock-in value of $59 million. The hotel player's stock was higher by 2.6 percent at Rs 155.65/


• Western Carriers will see its six-month lock-in come to an end today, making 53 million shares available for trading. These shares account for 52 percent of the firm’s total equity and are valued at approximately $56 million. Shares gained 2.6 percent to Rs 84.63 apiece.


• Northern Arc Capital’s six-month lock-in period ends today, releasing 99 million shares into the market. This represents 61 percent of the company’s outstanding equity, with a lock-in value of $190 million. Shares traded flat, hovering around half a percent higher at Rs 176.33 on the NSE.