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Indian stock market is set to brace for volatility as IPO lock-in expiries worth nearly $45 billion are scheduled to open over the coming months, with several recently listed companies set to witness the lifting of pre-listing shareholder restrictions, according to a report by Nuvama.
Simply put, a lock-in period refers to a fixed duration after listing during which pre-IPO shareholders, including promoters and early investors, are prohibited from selling their shares. Once the lock-in expires, these shareholders are permitted to offload their holdings, increasing the free float and potentially triggering short-term price movements.
This is important, as these events will increase near-term supply and exert pressure on stock prices, particularly in cases where a large volume of shares is released at once.
The report said that between January 6, 2026 and April 30, 2026, a total of 96 companies will see their pre-listing shareholder lock-in periods come to an end. The $45 billion figure represents the cumulative value of shares whose lock-in restrictions will expire during this period.
However, Nuvama noted that not all these shares are expected to be sold in the open market, as a significant portion continues to be held by promoters and promoter group entities.
The analysis covers both promoter and non-promoter shareholders and includes companies listed up to January 4, 2026. Nuvama cautioned that lock-in expiries are closely watched by investors, as a sudden rise in share supply can lead to temporary volatility, particularly if multiple early investors choose to book profits simultaneously.
In the near term, several companies are set to see lock-in expiries within the next month. On January 7, Meesho will have 2 million shares—around 2 per cent of its outstanding equity—coming out of lock-in. This will be followed on January 12 by CORONA Remedies, where 0.9 million shares (2 per cent) will be unlocked, and Wakefit Innovations, which will see 15 million shares, or 5 per cent, become eligible for trading.
On January 14, lock-in expiries are scheduled for Park Medi World involving 9 million shares, or 2 per cent, as well as Nephrocare Health Services, where 3 million shares, or 3 per cent, will be unlocked. ICICI Prudential AMC will see 7 million shares, or 1 per cent, come out of lock-in on January 16, followed by KSH International on January 19 with 3 million shares, or 4 per cent. Gujarat Kidney & Super Speciality is scheduled to see 4 million shares become eligible for trading on January 27.
Simply put, a lock-in period refers to a fixed duration after listing during which pre-IPO shareholders, including promoters and early investors, are prohibited from selling their shares. Once the lock-in expires, these shareholders are permitted to offload their holdings, increasing the free float and potentially triggering short-term price movements.
This is important, as these events will increase near-term supply and exert pressure on stock prices, particularly in cases where a large volume of shares is released at once.
The report said that between January 6, 2026 and April 30, 2026, a total of 96 companies will see their pre-listing shareholder lock-in periods come to an end. The $45 billion figure represents the cumulative value of shares whose lock-in restrictions will expire during this period.
However, Nuvama noted that not all these shares are expected to be sold in the open market, as a significant portion continues to be held by promoters and promoter group entities.
The analysis covers both promoter and non-promoter shareholders and includes companies listed up to January 4, 2026. Nuvama cautioned that lock-in expiries are closely watched by investors, as a sudden rise in share supply can lead to temporary volatility, particularly if multiple early investors choose to book profits simultaneously.
In the near term, several companies are set to see lock-in expiries within the next month. On January 7, Meesho will have 2 million shares—around 2 per cent of its outstanding equity—coming out of lock-in. This will be followed on January 12 by CORONA Remedies, where 0.9 million shares (2 per cent) will be unlocked, and Wakefit Innovations, which will see 15 million shares, or 5 per cent, become eligible for trading.
On January 14, lock-in expiries are scheduled for Park Medi World involving 9 million shares, or 2 per cent, as well as Nephrocare Health Services, where 3 million shares, or 3 per cent, will be unlocked. ICICI Prudential AMC will see 7 million shares, or 1 per cent, come out of lock-in on January 16, followed by KSH International on January 19 with 3 million shares, or 4 per cent. Gujarat Kidney & Super Speciality is scheduled to see 4 million shares become eligible for trading on January 27.
