Carraro India, Ventive, Senores Pharma — Stocks Down As Second Anchor Lock-In Ends
Trading volumes of all these stocks were higher than average, as shares allotted to anchor investors ahead of their IPO entered the secondary market.
Shares of Carraro India Ltd., Ventive Hospitality Ltd., and Senores Pharmaceuticals Ltd., among others, declined in early trade on Wednesday after they exited their respective anchor lock-in periods.
As much as 7% of equity for Senores Pharma turned eligible for trade as they exited the second lock-in expiry period for anchor investors, set at 90 days after the date of allocation. The scrip declined 7.2% intraday.
Carraro India stock fell by 9.5% intraday as 5% equity or 30 lakh shares entered the secondary market.
Ventive Hospitality has 2% equity or six lakh shares freed up for trading. The stock fell by 1.7%.
Tolins Tyres Ltd. and Shree Tirupati Balajee Agro Trading Co. share prices fell 1.7% and 1.5%, respectively. Over 50% equity of these companies exited lock-in periods.
The benchmark Nifty 50 was trading 0.08% lower.
These stocks had listed on the exchanges in December after their IPOs. Since then, Carraro India has fallen 50% and Tolins Tyres by 40%. Ventive Hospitality and Senores Pharma stocks have seen meagre gains of 1% and 4%, respectively.
