Four stocks – Dhoot Transmission Ltd., Molbio Diagnostics Ltd., Technocraft Ventures Ltd., and LEAP India Ltd., will see their three-month shareholder lock-ins end on Wednesday, November 11, according to data available.
The total value of the shares of these four companies that free up for trading today after lock-in ends is close to ₹1,500 crore.
It must be noted that the end of the shareholder lock-in period does not mean all the shares will be sold in the open market. They only become eligible to be traded.
Of the four stocks whose lock-in ends today, three of them have either doubled or nearly doubled from their issue price. Here’s an individual look at these four stocks.
Dhoot Transmission
According to Nuvama Altenative & Quantitative Research, as many as 5.3 million shares or 3% of the company’s outstanding equity will free up for trade once the three-month shareholder lock-in ends today.
Based on the stock’s closing price on Monday, the value of shares that free up for trade today is worth ₹862 crore.
Shares of Dhoot Transmission, as of Monday’s closing, are up 87% from their IPO price of ₹871 per share, but have corrected 6% from their post-listing high as well.
Molbio Diagnostics
As many as 1.7 million shares of the recently listed Molbio Diagnostics will free up on Wednesday when the shareholder lock-in ends.
The number of shares that free up for trade amount to 2% of the company’s total outstanding.
Based on Monday’s closing price, the value of the freed up shares is worth ₹227 crore.
Shares of Molbio Diagnostics had also doubled from their IPO price of ₹807 per share, but are now down 21% from their post-listing high, thereby trimming their gains from the IPO price down to 65%.
Technocraft Ventures
A stock that has doubled from its issue price of ₹212 per share, Technocraft Ventures will also see its three-month shareholder lock-in end on Wednesday.
As many as 1.8 million shares or 4% of the company’s outstanding will free up for trading on Wednesday. Based on Monday’s closing price, those shares are valued at ₹90 crore.
Even after a 12% correction from the post-listing high, shares of Technocraft Ventures are up 135% from their issue price.
LEAP India
The only underperforming stock in this list, LEAP India’s shares will also see their three-month shareholder lock-in end on Wednesday.
As many as 23.4 million shares or 5% of its outstanding equity will free up for trade on Wednesday.
Based on Monday’s closing price, those shares are valued at ₹278.4 crore.
Shares of LEAP India are trading below their issue price of ₹157, and are down 30% from their post-listing high of ₹172.
Four stocks to see shares worth ₹1,500 crore free up today as lock-ins end; Details here