A significant shift in market dynamics is underway as approximately 254 million shares, valued at nearly ₹11,200 crore (around \$1.5 billion), are being released from lock-in restrictions this week. These shares, originally allotted during recent IPOs to promoters, anchor investors, and other early stakeholders, are now entering the secondary market, opening the door to potential trading volatility and liquidity shifts.
This week’s unlock marks one of the largest such events in recent months and is part of a broader trend in Indian capital markets. Over 36 companies are expected to see their IPO lock-ins expire between June 15 and July 15, 2025. This period will free up an additional ₹3,700 crore worth of shares, adding further pressure and opportunities to the market. The most notable unlock events include Borosil Renewables on June 22 and Sagility India and Swiggy on June 25.
The phenomenon extends beyond the immediate week, with over ₹1.7 lakh crore in anchor investor lock-in shares scheduled for release by September 22, 2025. This includes major names such as Ather Energy, Ajax Engineering, Hexaware, and Dr. Agarwal’s, among others. These exits could influence institutional ownership structures and trigger substantial shifts in stock performance across various sectors.
Market analysts caution that large unlock events often lead to price corrections. This was recently observed with Swiggy, where the stock dropped by 6 percent to a 52-week low following the release of 83 percent of its shares from lock-in.
Investors are advised to monitor the lock-in expiry calendar closely, particularly for companies with high concentrations of pre-IPO shareholders or where trading volumes are typically thin. Stocks undergoing such transitions may experience elevated volatility and increased trading activity, offering both risks and opportunities.
With the upcoming wave of unlocks, the Indian equity market is expected to remain highly active through mid-2025. Market participants are keeping a close watch on how this surge of newly tradable shares will influence pricing, investor behavior, and overall sector momentum.