A wave of lock-in expiries involving about $19 billion across 80 companies is set to unlock shares between August and December, potentially increasing trading activity and impacting stock liquidity in the Indian market, according to Nuvama Research.
Shares worth about $19 billion across 80 recently listed companies are due to come out of pre-listing lock-ins between 24 August and 29 December, according to Nuvama Alternative & Quantitative Research. The firm’s analysis suggests the wave of expiries could broaden the pool of stock available to trade in a number of newly listed names, although it also stressed that the figures should not be treated as a direct guide to selling pressure because a large share of the stock is held by promoters and promoter groups. NDTV Profit reported that the screen covers companies listed up to 21 August 2026.
The first major unlocks begin almost immediately. Vikram Solar is set to release 12.28 million shares, equal to 34% of its equity, on 24 August, followed by Shreeji Shipping Global on 25 August with 10.38 million shares, or 64% of equity, becoming eligible for trading. On 27 August, several names are due to come through the pipeline, including Xtranet Technologies, Lohia Corp, INDO-MIM and Clean Max Enviro Energy Solutions, with the latter seeing 34 million shares, or 29% of outstanding equity, move past restriction.
September brings a heavier run of large percentage releases. Nuvama’s calendar shows unlocks for Manipal Health Enterprises on 2 September, Juniper Green Energy and MV Electrosystems on 3 September, and Ardee Industries on 9 September. Later in the month, SEDEMAC Mechatronics, Shree Ram Twistex, Innovision, GSP Crop Science and Rajputana Stainless all have sizeable portions of equity becoming tradable, with several of those tranches exceeding half of outstanding shares.
The calendar then stretches into the final quarter of the year, when some of the largest expiries arrive. Central Mine Planning & Design Institute is due to unlock 464 million shares, or 65% of equity, on 6 October, while CMR Green Technologies, Hexagon Nutrition and Turtlemint Fintech Solutions all have substantial December expiries. The broader point, as Nuvama noted, is that a lock-in expiry only makes shares eligible for sale; it does not mean holders will necessarily sell them. For that reason, traders often watch these dates as a guide to potential changes in free float rather than a precise forecast of supply.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
