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18 Apr 2026
A significant wave of IPO share lock-in expirations kicks off from April 15, freeing up shares worth thousands of crores across some of the most closely watched recently listed companies. From blue-chip giants like Tata Capital and LG Electronics India to fintech stars like Meesho and Pine Labs, shareholders, who could not sell so far, can finally do so.
According to Nuvama Alternative & Quantitative Research, this is part of a broader unlocking cycle across recently listed firms.
What is a Lock-In expiry and why does It matter?
According to Nuvama Alternative & Quantitative Research, when a company lists on Indian stock exchanges through an IPO, pre-listing shareholders, including promoters, institutional investors, and early backers are required by SEBI regulations to hold their shares for a mandated lock-in period before they can sell. Once that period ends, these shares become eligible for sale in the open market, potentially increasing supply.
As per Nuvama Alternative & Quantitative Research, between April 7 and July 31, 2026, a total of 81 companies are set to have their pre-listing shareholder lock-ins lifted, amounting to a combined value of $67 billion in lock-up opening shares. The report states that “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.”
April 15: First major wave – Rubicon Research, LG Electronics India and Bharat Coking Coal in focus
According to Nuvama Alternative & Quantitative Research, April 15 is the first major lock-in opening day after the market holiday, and three companies see their lock-ins expire on this date.
As per Nuvama, Bharat Coking Coal sees its 3-month lock-in open on April 15, covering 59 million shares, representing 1% of its total outstanding shares. Its issue size was Rs 1,070 crore, and its current market price stood at Rs 32 compared to an issue price of Rs 23.
According to the Nuvama report, Rubicon Research has its lock-in expiry on April 15 under the 6-month category, with 100 million shares, representing 60% of total outstanding shares, becoming eligible for trading. Its current market price is Rs 779 against an issue price of Rs 485.
As per Nuvama Alternative & Quantitative Research, LG Electronics India also sees its 6-month lock-in open on April 15, with 441 million shares, accounting for 65% of total outstanding shares, becoming tradable. Its issue size was Rs 11,610 crore, with a current market price of Rs 1,387 compared to an issue price of Rs 1,140.
April 16 to April 20 IPO lock-in expiry schedule
According to Nuvama Alternative & Quantitative Research, Garuda Construction & Engineering sees its lock-in open on April 16, with 19 million shares representing 20% of outstanding shares becoming eligible for trading. The stock is at Rs 147 compared to its issue price of Rs 95.
As per the Nuvama report, Canara Robeco AMC has its lock-in expiry on April 17, with 110 million shares, representing 55% of outstanding shares, opening up. Its current market price is Rs 234 compared to an issue price of Rs 266.
According to Nuvama Alternative & Quantitative Research, Hyundai Motor India India sees its lock-in open on April 20, covering 163 million shares or 20% of outstanding shares. Its issue size was Rs 27,870 crore, with a current market price of Rs 1,716 compared to an issue price of Rs 1,960.
As per Nuvama, Canara HSBC Life Insurance also sees its lock-in open on April 20, with 522 million shares, representing 55% of outstanding shares. Its current market price is Rs 144 compared to an issue price of Rs 106.
April 20 to April 30: Amagi Media Labs, Shadowfax and Tenneco in focus
According to Nuvama Alternative & Quantitative Research, Amagi Media Labs sees its lock-in open on April 20, with 11 million shares representing 5% of outstanding shares becoming eligible for trading.
As per the Nuvama report, Shadowfax Technologies has its lock-in expiry on April 23, with 35 million shares representing 6% of outstanding shares.
According to Nuvama, Midwest sees its lock-in open on April 24, with 6 million shares representing 17% of outstanding shares.
As per Nuvama Alternative & Quantitative Research, Capillary Technologies has its lock-in expiry on April 28, with 0.5 million shares representing 0.7% of outstanding shares.
According to the Nuvama report, Tenneco Clean Air India sees its lock-in open on April 30, with 3 million shares representing 0.8% of outstanding shares.
May IPO Lock-in expiry: Pine Labs, Lenskart, Physicswallah, Meesho
According to Nuvama Alternative & Quantitative Research, Deepak Builders & Engineers and Afcons Infrastructure see lock-ins open on May 4, while Studds Accessories opens on May 7 and Orkla India and Lenskart Solutions see lock-in expiries on May 8, including 1,047.4 million shares for Lenskart representing 60% of outstanding shares.
As per the Nuvama report, Sagility India sees its lock-in open on May 11, followed by Billionbrains Garage Ventures on May 12 with 4,181.9 million shares representing 68% of outstanding shares.
According to Nuvama Alternative & Quantitative Research, on May 13, Pine Labs sees its lock-in expiry with 923.6 million shares representing 80% of outstanding shares, while Niva Bupa Health Insurance, Fractal Analytics and Aye Finance also see lock-ins open on the same date.
As per Nuvama, Tenneco Clean Air India, Physicswallah and Aadhar Housing Finance see lock-ins open on May 18, followed by Fujiyama Power Systems and Capillary Technologies on May 20.
According to the Nuvama report, Gaudium IVF And Women Health sees its lock-in open on May 26, while Sudeep Pharma, Borana Weaves and Clean Max Enviro Energy open on May 27, and PNGS Reva Diamond Jewellery sees its lock-in expiry on May 29.
June IPO Lock-in expiry: Meesho, ICICI Pru AMC
According to Nuvama Alternative & Quantitative Research, Schloss Bangalore, Belrise Industries, Enviro Infra Engineers, Omnitech Engineering and Wakefit Innovations see lock-ins open on June 1.
As per the Nuvama report, Aegis Vopak Terminals sees its lock-in open on June 8, followed by Aequs on June 9.
According to Nuvama Alternative & Quantitative Research, on June 10, ICICI Pru AMC sees a smaller tranche unlock, while Meesho sees 3,083.3 million shares representing 68% of outstanding shares become eligible for trading.
As per Nuvama, Vidya Wires sees its lock-in open on June 11, followed by Wakefit Innovations and Corona Remedies on June 12.
According to the Nuvama report, Ikio Lighting sees its lock-in open on June 15, followed by Park Medi World, Nephrocare Health Services, Vishal Mega Mart and Sai Life Sciences on June 17.
As per Nuvama Alternative & Quantitative Research, Inventurus Knowledge Solutions and One Mobikwik Systems see lock-ins open on June 18, while ICICI Prudential Asset Management Company and Oswal Pumps see expiries on June 19, followed by KSH International on June 22.
According to Nuvama, Senores Pharmaceuticals, Transrail Lighting, DAM Capital Advisors, Carraro India and Mamata Machinery see lock-ins open on June 29.
July IPO Lock-in expiry: Bharat Coking Coal, Amagi and Shadowfax
According to Nuvama Alternative & Quantitative Research, Unimech Aerospace & Mfg, Kalpataru and Gujarat Kidney & Super Speciality see lock-ins open on July 1, followed by Ellenbarrie Industrial Gases on July 2 and Sambhv Steel Tubes on July 3.
As per the Nuvama report, Indogulf Cropsciences sees its lock-in open on July 6, followed by Indo Farm Equipment on July 10, Standard Glass Lining Technology on July 13 and Quadrant Future Tek on July 14.
According to Nuvama Alternative & Quantitative Research, Smartworks Coworking and Bharat Coking Coal see lock-ins open on July 17, including 3,259.4 million shares representing 70% of outstanding shares for Bharat Coking Coal.
As per Nuvama, Amagi Media Labs sees its lock-in open on July 20, followed by Shadowfax Technologies on July 24.
According to the Nuvama report, Stallion India Fluorochemicals and Anand Rathi Share and Stock Brokers see lock-ins open on July 27, followed by Indiqube Spaces on July 30 and Brigade Hotel Ventures on July 31.
Disclaimer: This article discusses regulatory lock-in expirations and historical price performance for various recently listed companies. The data and analysis, sourced from third-party research, are provided for informational and educational purposes only. A lock-in expiry signifies the technical eligibility for shareholders to sell but does not guarantee market action or future price direction. Equity investments, particularly in recently listed entities, carry significant market risk and volatility. Readers should not treat this information as a recommendation to buy, sell, or hold any security and are encouraged to consult a SEBI-registered investment advisor before making financial decisions.
