IPO Lock-In Expiries Worth $34 Billion May Trigger Volatility

Quick Summary

IPO Lock-In Expiries: India’s stock market is heading into a major IPO lock-in expiry phase, with shares worth nearly $34 billion from 73 recently listed companies becoming eligible for trading over the next three months. While this does not automatically mean heavy selling, investors may see increased volatility in several newly listed stocks.

IPO Lock-In Expiries: India’s primary and secondary markets are set to witness a fresh wave of IPO lock-in expiries over the coming 3 months. According to a report by Nuvama Institutional Equities (an institutional research and brokerage arm of Nuvama Wealth Management, providing equity research, market analysis, and investment insights to institutional and retail investors in India), shares worth nearly $34 billion or 3.29 lakh crore rupees from 73 recently listed companies will become eligible for trading once their mandatory lock-in periods end.

What is a lock-in period in IPO?

A lock-in expiry means pre-IPO investors, anchor investors, promoters, and other shareholders are now allowed to sell their shares in the open market. However, it does not necessarily mean that all these shares will be sold immediately.

Still, such expiries often remain on investors’ radar because they can increase market supply and create short-term pressure on stock prices.

What Are IPO Lock-In Expiries?

When a company gets listed through an IPO, certain shareholders are restricted from selling their holdings for a fixed period. This is called the lock-in period.

Once the lock-in expires:

Shares become eligible for trading
Early investors can partially or fully exit
Market participants track possible selling pressure
Stock volatility may increase temporarily

The upcoming expiries include one-month, three-month, and six-month lock-in periods across multiple recently listed companies.

IPO Lock-In Expiries Scheduled in Next Six Months

Several high-profile IPOs are also approaching their six-month lock-in expiry dates. Here you can check all the names.

Company	Lockin Open Date	Shares Unlocked (mn)	Value ($ mn)
Emmvee Photovoltaic Power	20-May-26	0.02	0.06
Fujiyama Power Systems	20-May-26	49	133
Capillary Technologies	20-May-26	44	244
Gaudium IVF and Women Health	26-May-26	3	3
Clean Max Enviro Energy Solutions	27-May-26	4	58
Sudeep Pharma	27-May-26	2	12
Borana Weaves	27-May-26	12	40
PNGS Reva Diamond Jewellery	29-May-26	2	8
Omnitech Engineering	1-Jun-26	4	16
Belrise Industries	1-Jun-26	471	1,021
Enviro Infra Engineers	1-Jun-26	37	73
Schloss Bangalore	1-Jun-26	187	799
Wakefit Innovations	3-Jun-26	4	6
OnEMI Technology Solution	5-Jun-26	8	17
Aegis Vopak Terminals	8-Jun-26	742	1,492
SEDEMAC Mechatronics	8-Jun-26	1	25
Aequs	9-Jun-26	146	298
ICICI Prudential AMC	10-Jun-26	2	81
Meesho	10-Jun-26	3,083	6,051
Suraksha Diagnostic	10-Jun-26	11	34
Vidya Wires	11-Jun-26	13	12
Wakefit Innovations	12-Jun-26	161	231
Corona Remedies	12-Jun-26	43	795
Ikio Lighting	15-Jun-26	15	25
Park Medi World	17-Jun-26	17	43
Nephrocare Health Services	17-Jun-26	51	346
Vishal Mega Mart	17-Jun-26	923	1,146
Sai Life Sciences	17-Jun-26	42	466
GSP Crop Science	18-Jun-26	2	6
Inventurus Knowledge Solutions	18-Jun-26	34	554
One Mobikwik Systems	18-Jun-26	16	31

Source: Nuvama Alternative & Quantitative Research, ET

Meesho Lock-In Expiry: One of the Biggest Events

One of the most closely watched expiries will be that of Meesho on 10 June.

Meesho had made a strong stock market debut in December 2025, listing at a 46% premium over its IPO price of ₹162 per share on NSE.

The stock later rallied nearly 57% to hit a 52-week high of ₹254.40. However, it has since erased most of those gains and is currently trading around ₹195 per share ( As of 20 May, 12 PM)

Because of the massive quantity of shares becoming tradable, investors can monitor whether early investors decide to book profits.

Recent Indian IPO Lock-in Expiry Examples

Here is a table of recent Indian IPO examples with lock-in expiry performance

Company	Lock-in Expiry Date	Shares Unlocked & Value	1-Day Reaction	Short-term Reaction
Pine Labs	13 May 2026	~92.4 crore shares of ~₹17,000 Cr	-10% to -11%	Stock hit 52-week lows, down 31% post-event
Physicswallah	18 May 2026	~26 crore shares of ~₹2,949 Cr	-5% intraday drop	Volatility with partial recovery, ongoing pressure
Lenskart	8 May 2026	~104.7 crore shares of ₹51,000 Cr	-3%	Muted to negative; some recovery, but selling pressure continued
Waaree Energies	25 April 2025	~15 crore shares	-9% intraday	Short-term pressure, but strong fundamentals helped the later recovery

Source: ET, Business Standard

See details of companies announcing dividends, bonus shares, and stock splits this month

Observations

Increased supply from lock-in expiries often leads to negative price reactions in the short term (1-5 days), though recovery depends on company fundamentals, market sentiment, and buying absorption.

Conclusion

Upcoming IPO lock-in expiries worth $34 billion are important for India’s equity markets, especially as several recently listed companies prepare to unlock large quantities of shares for trading.

However, investors should remember that lock-in expiry does not automatically translate into heavy selling. In many cases, promoters and long-term investors continue to hold their stakes despite becoming eligible to sell.

These dates can still trigger short-term volatility and sentiment-driven price movements. For retail investors, tracking company fundamentals, promoter behaviour, and valuation levels will remain more important than reacting solely to lock-in expiry headlines.

$34 Billion IPO Lock-In Expiries Coming Soon: What Investors Should Know?