Underperforming IPO, down 35% from issue price, falls further after lock-in ends

Shares of Pace Digitek Ltd., a stock which made its stock market debut six months prior, fell as much as 6% on Tuesday, April 7, as its shareholder lock-in period ended.

According to Nuvama Alternative & Quantitative Research, as many as 28.1 million shares of Pace Digitek freed up for trade on Tuesday, as its six-months shareholder lock-in period came to an end.

The number of shares that have freed up for trade amount to 13% of the company's outstanding equity.



It must be noted that the end of the shareholder lock-in period does not mean all the eligible shares will be sold in the open market. They only become eligible to be traded.

Pace Digitek had launched its ₹820 crore IPO in September last year, which had just about managed to see full subscription. The retail portion too was subscribed only 1.03 times the total number of shares on offer during the three-day subscription period.

The entire IPO was a fresh issue of equity shares.

Shares of Pace Digitek are trading 5.2% lower on Tuesday at ₹143.8. The stock has declined 7% over the last one month and is down 23% so far in 2026. The stock had gone on to make a post-listing high of ₹232, before correcting from those levels.

Currently, the stock trades 35% below its issue price of ₹219 per share.