Shareholder Lock-In: Wakefit, ICICI Pru AMC among shares worth over ₹21,000 crore freeing up this week

As many as 11 companies will see shares worth nearly ₹21,001.99 crore become eligible for trading in the upcoming week as shareholder lock-in periods expire. The list includes several recent listings such as Wakefit Innovations, Canara Robeco AMC, Emcure Pharmaceuticals, Canara HSBC Life Insurance and ICICI Prudential AMC, among others.

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

Let's take a look at some of the major names first

Wakefit Innovations

According to Nuvama Alternative & Quantitative Research, as many as 14.9 million shares of the company, or 5% of its outstanding equity will free up for trade this Monday, January 12, when its one-month shareholder lock-in ends.

At the current market price, those shares are worth ₹257 crore.

Shares of Wakefit settled 0.68% higher on Friday at ₹172.50. The stock is trading nearly 12% lower from their issue price of ₹195, and are down nearly 15% from their post-listing high of ₹203.50.

ICICI Prudential AMC

Shares of ICICI Prudential, one of India’s largest asset management companies, will also see its one-month shareholder lock-in period end on Friday, January 16, where 7 million shares or 1% of its outstanding equity will free up for trade.

ICICI Prudential AMC is India's largest asset management company in India in terms of assets managed under active mutual fund schemes with an mutual fund quarterly average assets of ₹10,147 crore. The company had 15.5 million retail investors as of end of September.

At the current price, the number of shares that will free up for trade are worth ₹1,862 crore. The stock now trades 23% above its issue price of ₹2,165.

Canara HSBC Life Insurance Company

Canara HSBC Life Insurance will see its three-month shareholder lock-in end on Tuesday, January 13, where as many as 35.4 million shares or 4% of its outstanding becoming eligible to be traded.

Based on Friday's closing price, the number of shares that become eligible to be traded are worth ₹521 crore.

Canara HSBC Life Insurance shares are up nearly 40% from their issue price of ₹106 currently. The stock closed 1.16% lower on Friday at ₹147.29 apiece.

Emcure Pharmaceuticals

Emcure Pharmaceuticals will also see its six-month and beyond shareholder lock-in end this Monday, January 12.

According to Nuvama Alternative, 38 million shares of the company, or 20% of its outstanding equity will free up for trade this week.

Based on Friday's closing price, those shares are worth ₹5,862 crore.

Canara Robeco Asset Management Company

According to Nuvama Alternative & Quantitative Research, as many as 7.5 million shares of the company, or 4% of its outstanding equity will free up for trade this Monday, January 12, when its three-month shareholder lock-in ends.

At the current market price, those shares are worth ₹220.5 crore.

Shares of Canara Robeco AMC may still be up over 10% from their issue price of ₹266, but are down nearly 17% from their post-listing high of ₹353.40.

Here's a look at the other companies whose lock-ins end this week

Monday, January 12

Corona Remedies: 0.9 million shares or 2% of the outstanding equity will free up for trade. At the current market price, those shares are worth ₹128.69 crore. The stock trades 35% above its issue price of ₹1,062.

Rubicon Research: About 6.4 million shares or 4% of the outstanding equity will free up for trade. At the current market price, those shares are worth ₹414 crore. The stock trades 33% above its issue price of ₹485.

Travel Food Services: 87.2 million shares or 66% of the outstanding equity will free up for trade. At the current market price, those shares are worth ₹10,029 crore. The stock trades 4.5% above its issue price of ₹1,100.

Wednesday, January 14

Park Medi World: 8.5 million shares or 2% of outstanding worth ₹127.5 crore. The stock trades 7% below its issue price of ₹162.

Nephrocare Health Services: 2.8 million shares or 3% of the outstanding equity worth ₹137.48 crore. The stock is up 7% from its IPO price.

Friday, January 16

Smartworks Coworking Spaces: 31.2 million shares or 27% of the total outstanding worth ₹1,441.44 crore. The stock is up 14% from its issue price.