Investors in India's primary market may need to brace for a fresh wave of potential supply as shares worth nearly $8 billion across 49 recently listed companies are set to come out of mandatory lock-in between July 27 and Sept.30, according to a report by Nuvama Alternative & Quantitative Research.
While the unlocking of shares does not necessarily translate into immediate selling, it often becomes a closely watched event as it allows pre-listing shareholders, including promoters, private equity investors, venture capital funds and other early backers, to sell their holdings for the first time after the lock-in period ends.
Nuvama noted that the $8 billion figure represents the total value of shares becoming eligible for trading, but cautioned that a substantial portion is held by promoters and promoter groups, meaning not all of the unlocked shares are likely to hit the market.
The report covers companies listed up to July 24, 2026, and identifies 49 firms whose pre-listing shareholder lock-ins will expire over the next two months.
Among the one-month lock-in expiries, companies scheduled to see shares unlocked include Advit Jewels, Waterways Leisure Tourism, CSM Technologies, Knack Packaging, Kusumgar, Laser Power & Infra, SBI Funds Management and Caliber Mining and Logistics.
The report also highlights several companies where three-month lock-ins will expire during the period, including OnEMI Technology Solution, CMR Green Technologies, Hexagon Nutrition and Turtlemint Fintech Solutions.
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Some of the largest six-month lock-in expiries involve companies where more than half of the outstanding equity becomes eligible for trading. Aye Finance tops the list with 146 million shares, equivalent to 59% of total outstanding shares, becoming eligible for sale on August 13. Fractal Analytics follows closely with 87 million shares, or 51% of outstanding equity, unlocking on August 14.
Other notable companies include Innovision (54%), GSP Crop Science (53%), Rajputana Stainless (55%) and SEDEMAC Mechatronics (38%).
As India's IPO market continues to remain active, investors are expected to closely watch these lock-in expiry dates for any signs of block deals, stake sales or changes in shareholder ownership.
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