Busy Week for Investors: Wakefit Innovations and ICICI Prudential and More Set to See Shareholder Lock-In Expiry

As many as 11 companies are set to see shares worth nearly ₹21,002 crore become eligible for trading in this week starting from Jan 12 as shareholder lock-in periods come to an end. The list features several recent market entrants, including Wakefit Innovations, Canara Robeco Asset Management Company, Emcure Pharmaceuticals, Canara HSBC Life Insurance, and ICICI Prudential AMC, among others.

It is important to note that the expiry of a lock-in period does not automatically imply a sell-off. These shares merely become eligible for trading and may or may not be offered in the secondary market. Let us now have a look at the big names in the list:

Wakefit Innovations

According to Nuvama Alternative & Quantitative Research, around 14.9 million shares, representing 5% of Wakefit’s outstanding equity, will be released for trading on Monday, January 12, following the completion of its one-month shareholder lock-in period. 

ICICI Prudential AMC

Shares of ICICI Prudential AMC, one of India’s largest asset management companies, will see their one-month lock-in expire on Friday, January 16. Around 7 million shares, or 1% of the company’s outstanding equity, will become eligible for trading.

Canara HSBC Life Insurance

Canara HSBC Life Insurance’s three-month shareholder lock-in ends on Tuesday, January 13, making approximately 35.4 million shares, or 4% of total equity eligible for trading. Based on Friday’s closing price, these shares are valued at ₹521 crore..

Emcure Pharmaceuticals

Emcure Pharmaceuticals will see the expiry of its six-month and longer lock-in periods on Monday, January 12. As per Nuvama Alternative, about 38 million shares, accounting for 20% of the company’s outstanding equity, will become available for trading. At Friday’s closing price, the unlocked shares are worth approximately ₹5,862 crore.

Canara Robeco Asset Management Company

Canara Robeco AMC’s 3 -month lock-in concludes on Monday, January 12. Around 7.5 million shares, or 4% of the company’s equity, will be freed for trading, according to Nuvama Alternative & Quantitative Research.

Other lock-ins expiring this week

Monday, January 12

• Corona Remedies: 0.9 million shares (2% of equity) worth ₹128.69 crore will unlock. The stock trades 35% above its issue price of ₹1,062.
• Rubicon Research: About 6.4 million shares (4% of equity) valued at ₹414 crore will become eligible for trading. The stock is up 33% from its IPO price of ₹485.
• Travel Food Services: A significant 87.2 million shares, representing 66% of outstanding equity and worth ₹10,029 crore, will unlock. The stock trades 4.5% above its issue price of ₹1,100.

Wednesday, January 14

• Park Medi World: 8.5 million shares (2% of equity) worth ₹127.5 crore will unlock. The stock is trading 7% below its issue price of ₹162.
• Nephrocare Health Services: Around 2.8 million shares (3% of equity) valued at ₹137.48 crore will become tradable. The stock is up 7% from its IPO price.

Also Read: List of 35 NBFCs Whose Registration Was Cancelled by the RBI

Friday, January 16

• Smartworks Coworking Spaces: Approximately 31.2 million shares, or 27% of outstanding equity, worth ₹1,441.44 crore will unlock. The stock is currently trading 14% above its issue price.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.