Millions of shares freed from lock-in as Monday trading begins
Lock-in restrictions expire on Monday for 19.2 million shares across three Indian companies valued at more than 1,000 crore rupees. National Securities Depository Ltd. accounts for 7.5 million shares becoming tradeable, representing four percent of that firm’s market capitalization and worth approximately 870 crore rupees based on Friday’s closing prices. The depository operator’s stock finished at 1,158.55 rupees per share on the Bombay Stock Exchange, down 1.16 percent but still 45 percent above its 800 rupee offering price.
Shree Lotter Developers will release 7.9 million shares, equaling two percent of its total equity. That stock reached 144 rupees on Friday, climbing 22 percent since its public debut. M&B Engineering will free 3.8 million shares, representing seven percent of outstanding stock and valued at 172 crore rupees, according to research from Nuvama Alternative & Quantitative Research.
Initial public offerings typically impose lock-in periods preventing immediate trading of certain shares. These restrictions vary by offering and temporarily limit investors’ ability to buy or sell restricted securities. The Monday expiration allows significant new supply to enter trading markets.
