Allied Blenders lock-in ends on January 2; stock up 114% from issue price

Shares of Allied Blenders and Distillers Ltd. are trading over 2% lower on Thursday, January 1, ahead of the expiry of its six-month and longer shareholder lock-in period.

As the lock-in ends on Friday, January 2, around 55.9 million shares, or about 20% of the company's outstanding equity, will become eligible for trading, according to Nuvama Alternative & Quantitative Research.

At Thursday's market price, the value of these shares is estimated at nearly ₹3,355 crore.

The expiry of the lock-in does not imply that all these shares will be sold in the open market, but only that they become eligible for trading.

Allied Blenders and Distillers has been an outperformer since listing, with the stock up nearly 114% from its issue price at current market levels.

Separately, HDB Financial Services will also see the end of its six month shareholder lock-in period on Friday. This will make nearly 58% of its outstanding equity, or around 481.5 million shares, eligible for trading.

At current prices, the value of these shares is close to ₹37,000 crore.

Shares of HDB Financial continue to trade above their IPO issue price of ₹740 per share.