SEPTEMBER TO SEE MAJOR IPO LOCK-IN EXPIRIES AS SHARES WORTH $2.3 BILLION WILL FREE UP FOR TRADE

India's market is heading into a busy month for lock-in expiries, with shares of 38 recently listed companies set to become eligible for trading during September, according to data compiled by Nuvama Alternative & Quantitative Research.

Altogether, Nuvama Alternative & Quantitative Research estimates that between September 2 and September 30, lock-ins across 28 companies will expire, which covers 575 million shares worth a combined $2.3 billion.

Nuvama flagged that while the value pertains to the total lock-up opening shares, it's important to note that not all of these shares will come for sale as a sizable portion of these shares are also held by promoter and group companies.

During the first week of September, 5 companies will see their shares unlocked for trading: Manipal Health Enterprises, Juniper Green Energy, MV ElectroSystems, PNGS Reva Diamond Jewellery and Omnitech Engineering.

A few names to watch closely

Among the one-month lock-in expiries, Manipal Health Enterprises has 35 million shares, or 3% of outstanding shares, worth around $286 million, becoming eligible for sale on September 2. The stock is up 31% from its issue price and 16% from its listing close.

Dhoot Transmission will see another 5 million shares, equivalent to 3% of outstanding shares and valued at around $80 million, unlocked on September 15. The stock has gained 67% from its issue price and 23% since listing.

The larger potential overhang comes from companies reaching their six-month or longer lock-in expiry. SEDEMAC Mechatronics has 17 million shares, or 38% of outstanding shares, worth around $525 million, set to unlock on September 10. The stock has more than doubled from its issue price, gaining 123%, and is up 108% from its listing close.

GSP Crop Science will see 25 million shares, or 53% of outstanding shares, worth around $162 million, unlocked on September 25. The stock is up 96% from its issue price and 76% since listing.

Meanwhile, Saatvik Green Energy has 57 million shares, representing 45% of outstanding shares and valued at around $253 million, set to unlock on September 28. Unlike the other two, the stock is currently below its issue price, down 9% from the issue price and 4% from its listing close.

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2026-09-02T01:32:27Z