Pace Digitek, Ellenbarrie shares, both below IPO price, fall after shareholder lock-in ends

December 30 is an important trading session for two stocks - Pace Digitek and Ellenbarrie Industrial Gases, as their respective shareholder lock-ins came to an end.

Pace Digitek will see 5.6 million shares or 3% of its outstanding equity free up for trade as its shareholder lock-in came to an end today.

At the current market price, the value of shares that will be freed up for trading amounts to ₹103.88 crore.

Shares of Pace Digitek are trading 15% lower than their IPO price of ₹219 per share.

For Ellenbarrie Industrial Gases, around 23.3 million shares or about 17% of its outstanding equity will become eligible for trading as its six-month and beyond lock-in ends.

At current prices, the value of shares unlocking on Tuesday is nearly ₹780.78 crore.

Shares of Ellenbarrie Industrial Gases are trading with losses of nearly 16% from their issue price of ₹400.

Brokerage firm Motilal Oswal had initiated coverage on Ellenbarrie Industrial Gases Ltd. earlier on September with a 'Buy' recommendation and a price target of ₹680.

According to Motilal, Ellenbarrie Industrial Gases' business model is underpinned by strong customer retention and high entry barriers, arising from the core nature of industrial gases and the structural rigidity of long-term pipeline contracts.

"We expect Ellenbarrie to maintain a strong EBITDA growth trajectory of 39% in financial year 2026, 42% in financial year 2027 and 43% in financial year 2028, driven by higher contributions from argon, green energy initiatives and capacity ramp-up," Motilal Oswal said.

Motilal Oswal also expects a 39% revenue CAGR, 49% EBITDA CAGR and a 52% Profit After Tax CAGR for the company over financial year 2025-2028.

It must be mentioned that the ending of the shareholder lock-in does not mean that all those shares will be sold in the open market, but they only get eligible to be traded.

Shares of Pace Digitek are trading 2% lower at ₹185.50, while those of Ellenbarrie Industrial Gases are trading 1.19% lower at ₹335.10.