Shares of Concord Enviro Systems Ltd., Samhi Hotels Ltd., Mamata Machinery Ltd. and Northern Arc Capital Ltd. rose during early trade on Monday, after they exited their respective anchor lock-in periods. On the other hand, Sanathan Textiles Ltd. and DAM Capital Advisors Ltd. shares fell.
As much as 6% of equity for Dam Capital is eligible for trade as they exit the second lock-in expiry period for anchor investors, set at 90 days post the date of allocation. The scrip declined 3.7% intraday.
Sanathan Textiles stock fell by 9% intraday as 3% equity or 26 lakh shares entered the secondary market.
Samhi Hotels has 16% equity or 3.44 crore shares freed up for trading. The stock gained over 3%.
Concord Enviro Systems' share price advanced by 5%.
Trading volumes of all these stocks were higher than average.
Nearly Rs 3,000 crore equity has exited lock-in periods on March 24.
Nearly Rs 3,000 crore equity has exited lock-in periods on March 24.
Post-IPO Drag
Several of these newly listed stocks have been facing significant corrections since their debut on the exchanges
Dam Capital Advisors Ltd., Western Carriers Ltd., and Northern Arc Capital Ltd. shares have each plunged nearly 50% from their listing and all-time high prices.
Mamata Machinery Ltd. and Concord Enviro Systems Ltd. stocks declined approximately 37% and 22%, respectively, from their listing prices.
Sanathan Textiles Ltd. initially dropped 12% from its listing price but has since rebounded 15% from its all-time low of Rs 300.
Samhi Hotels Ltd. has also been on a downward trend, falling 27% since its debut.
Overall, many of these stocks have struggled post-listing, experiencing significant corrections from their peaks.
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