Between 25 August 2025 and 27 November 2025, a total of 57 companies are expected to have their pre-listing shareholder lock-ins released, with a total value of USD 20 billion. This figure represents the overall value of shares that will become available, though it is crucial to understand that not all of these shares will be put up for sale, as a significant number are also owned by Promoter & Group, according to a report by Nuvama Institutional Equities.
The brokerage noted in its report that it has performed a thorough examination of all shareholders, both promoters and non-promoters, of these companies.
The forthcoming unlocks encompass various sectors, indicating a busy phase for IPO lock-in expirations. 1-Month Lock-in Expiries Several firms will have their shareholder lock-ins released within the one-month period concluding mid-September.
GNG Electronics will unlock roughly 3 million shares, representing 3% of the company’s overall outstanding equity; Brigade Hotel Ventures will release around 18 million shares, which is about 5% of the company’s total outstanding equity. Indiqube Spaces will issue approximately 7 million shares, which is 3% of the company’s total outstanding equity. Aditya Infotech is expected to release about 4 million shares, equal to 4% of its total outstanding equity.
According to experts, an anchor investor lock-in refers to a compulsory holding duration for a subset of shares assigned to anchor investors during an Initial Public Offering (IPO), restricting them from selling their shares for a defined period. This generally includes a two-tier lock-in structure, where 50% of the shares are restricted for 30 days and the remaining 50% for 90 days starting from the allotment date.
The objective is to provide stability, avoid immediate price fluctuations, and showcase commitment to the long-term success of the company after the IPO.
Mohit Gulati, the CIO and managing partner of ITI Growth Opportunities Fund, said that lock-in expiries tend to bring out two kinds of investors. The first are the smart traders who use the window to take money off the table where valuations have clearly run ahead of themselves.
The second are patient, value-driven investors who see these very sell-offs as an opportunity to build long-term positions in businesses they like. That’s the beauty of markets — they always offer something to both the bulls and the bears. The real skill is in not ending up on the wrong side of the trade.
3-Month Lock-in Expiries
A bigger portion of unlocks is set to happen from late August to mid-November according to the three-month timeline.
Belrise Industries is set to issue around 36 million shares, which accounts for 4% of the company’s total equity outstanding. Prostarm Info Systems plans to issue about 2 million shares, also representing 4% of its total outstanding equity. Aegis Vopak Terminals intends to release approximately 27 million shares, making up 2% of its total outstanding equity. Schloss Bangalore will issue roughly 18 million shares, corresponding to 5% of the company’s total outstanding equity.
6-Month Lock-in Expiries
Two major unlocks are planned within the six-month timeframe where Ather Energy will release around 162 million shares, which represents 44% of the total outstanding equity of the company; and Borana Weaves will issue approximately 3 million shares, amounting to 10% of the company’s total outstanding equity.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
