Aug 28, 2023
By: Katya NaiduThe one-month lock-in period of three recently listed companies — Yatharth Hospital, SBFC Finance and Concord Biotech will end in September.
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Yatharth Hospital’s one-month lock-in will end on September 1, with 3 million shares going on the block. SBFC Finance’s 27 million shares will be free from September 11. Concord Biotech’s 3 million shares will be free from September 13.
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Ikio Lighting’s three-month lock-in period ends on September 11, as 3 million shares are free to be sold. HMA Agro’s 3-month lock-in of 1.2 million shares will also end on September 27, as per a research report by Nuvama.
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Anchor investors must wait for 30 days (from allotment date) to sell half of their shares. The rest can be sold only after 90 days, as per the rules
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Promoters, and other shareholders have different lock-in expiry rules. Promoters can sell their shares in 18 months for 20 percent of the post-issue paid up capital as per rules but three years was the mandate earlier. Non-promoters’ lock-in ends in six months, as per the latest rules.
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Six month share lock-in for 6.4 million shares of Divgi TorqTransfer will end on September 11, equivalent to 21 percent of total outstanding shares. Moreso, one and a half to three year lock-ins of Happiest Minds, Route Mobile and Chemcon Speciality will also end in September.
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The lock-in for at least 20 percent of total outstanding shares will end for three companies — 29 million shares of Happiest Minds on September 15, 11 million shares of Route Mobile on September 16 and 7 million shares of Chemcon Speciality on September 29.
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Lock-in period ending is important because most stocks turn volatile during this period due to heavy trading.
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There will be a lot of new-stock action in October as one-month lock-ins of eight newly listed stocks like Senco Gold, Utkarsh Small Finance Bank, IdeaForge Tech and more will end in the month.
Credit: IANS