Pre-IPO shares worth ₹1.17 lakh cr of 50 cos to enter market in 2 months

As many as 50 companies are set to have their pre-listing shareholder lifted in the next two months, potentially freeing up shares worth $13.9 billion (₹1.17 lakh crore) for secondary sales, according to a report by Nuvama.

Among the newly listed companies, NTPC Green Energy, Swiggy, Afcons Infrastructure, ACME Solar Holdings, Niva Bupa Health Insurance, Sagility India, and Zinka Logistics will see their one month lock-in expiring in December.  On the other hand, 28 companies, including Hyundai Motor India , Waaree Energies, Bajaj Housing Finance, Swiggy are slated to have their 3-month pre-listing shareholder lifted between December and January.

“Between 28th Nov 2024, and 31st Jan 2025, a total of 50 companies are slated to have their pre-listing shareholder lock-ins lifted amounting to the value of $13.9bn. The value pertains to the total lock-up opening shares, but it’s important to note that not all of these shares will come for sale as a sizable portion of these shares are also held by promoter & group,” Nuvama Institutional Equities says in its report.

“We have conducted an extensive analysis encompassing all shareholders, both promoters and non-promoters, for these companies. Our study encompasses businesses listed up until Nov 28th, 2024,” the report read.

As per the report, 5-6 months lock-in period will expire for 11 companies - Awfis Space Solutions, Le Travenues Technology, Stanley Lifestyles, Allied Blenders and Distillers, Bansal Wire Industries, Sanstar Limited, Kronox Lab Sciences, DEE Development Engineers, Akme Fintrade, Vraj Iron and Steel, and Emcure Pharmaceuticals.

Meanwhile, Flair Writing Industries, DOMS Industries, Azad Engineering, Happy Forging, and Epack Durables will see their 1-year lock-in period expiring in in the next two months.

In case of 1.5 years and beyond, pre-IPO shares of Vintage Coffee And Beverages, Cyient DLM, HMA Agro Inds, Utkarsh Small Fin, ideaForge Technology, Senco Gold, and Netweb Tech will float in the secondary market.

In the first half of the current fiscal, with 40 companies raising ₹51,365 crore via mainboard IPOs. This is 95% higher than the ₹26,311 crore mobilised by 31 IPOs in the same period in 2023-24, as per the data from PRIME Database. Going ahead, the pipeline remains strong, with 26 companies proposing to raise ₹72,000 crore are presently holding SEBI approval while another 55 companies looking to raise about ₹89,000 crore are awaiting SEBI approval.

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