A dense stretch of lock-in expiries beginning April 1 is set to test demand across recently listed companies, with a large number of shares becoming eligible for trading over the next four months.
Between March 24 and July 31, a total of 95 companies will see pre-listing shareholder lock-ins lifted, representing shares worth about $68 billion, according to Nuvama Alternative and Quantitative Research. The report notes that while the headline number is large, “not all of these shares will come for sale as a sizable portion of these shares are also held by Promoter and Group”.
From April onward, the calendar shifts from scattered unlocks to a tightly packed sequence of events, many of them involving a large proportion of total equity.
April 1 to April 8: First set of unlocks begins with mixed scale
Starting April 1, TruAlt Bioenergy will see 24 million shares, representing 28% of its equity, come out of lock-in. Solarworld Energy Solutions will have 12 million shares, or 13%, becoming eligible, while Sudeep Pharma will see 0.2 million shares, or 0.2%, unlocked.
On April 2, Jinkushal Industries will have 21 million shares unlocked, amounting to 55% of its total equity.
Fabtech Technologies will follow on April 6 with 23 million shares, or 53%. On April 7, Pace Digitek will see 28 million shares, or 13%, unlocked, while Glottis will have 0.8 million shares, or 0.9%, becoming eligible.
SEDEMAC Mechatronics will see 1 million shares, or 3%, unlocked on April 8 under its shorter-duration lock-in tranche.
April 13: Tata Capital leads one of the largest single-day unlock events
On April 13, Tata Capital will see 2,858 million shares, representing 67% of its total equity, becoming eligible for trading, making it one of the largest unlocks in the entire schedule.
On the same day, WeWork India will unlock 60 million shares, or 45%, BMW Ventures will release 46 million shares, or 53%, and Advance Agrolife will see 32 million shares, or 50%, becoming eligible.
This cluster marks one of the most concentrated supply events in the calendar.
April 15 to April 23: Multiple companies cross 50% unlock levels
On April 15, LG Electronics India will see 441 million shares, or 65%, unlocked, while Rubicon Research will release 100 million shares, or 60%. Bharat Coking Coal will also see 59 million shares, or 1%, becoming eligible under a shorter lock-in period.
On April 17, Canara Robeco AMC will unlock 110 million shares, or 55%. April 20 will see Canara HSBC Life Insurance releasing 522 million shares, or 55%, along with Amagi Media Labs unlocking 11 million shares, or 5%.
Shadowfax Technologies will see 35 million shares, or 6%, becoming eligible on April 23.
Late April: Smaller unlocks continue to add to supply
Midwest will see 6 million shares, or 17%, unlocked on April 24. Capillary Technologies will have 0.5 million shares, or 0.7%, unlocking on April 28, and Tenneco Clean Air India will release 3 million shares, or 0.8%, on April 30.
📅 IPO Lock-in Expiry Tracker: April–May 2026
May: Some of the largest unlocks in the entire calendar
On May 7, Studds Accessories will unlock 24 million shares, or 60%. May 8 will see Orkla India releasing 87 million shares, or 63%, alongside Lenskart Solutions unlocking 1,047 million shares, or 60%, and Emmvee Photovoltaic Power with 5 million shares, or 0.7%.
Aequs will unlock 1 million shares, or 0.2%, on May 11. On May 12, Billionbrains Garage Ventures will see 4,182 million shares, or 68%, becoming eligible, one of the largest unlocks in the dataset.
On May 13, Pine Labs will unlock 924 million shares, or 80%, among the highest proportions, while Capillary Technologies will release 44 million shares, or 56%.
PhysicsWallah will see 259 million shares, or 9%, unlocked on May 18, alongside Tenneco Clean Air India releasing 229 million shares, or 57%. Fujiyama Power Systems will unlock 49 million shares, or 16%, on May 20.
📅 IPO Lock-in Expiry Tracker: June–July 2026
June: Staggered unlocks keep the flow of shares steady
Wakefit Innovations will begin on June 3 with 4 million shares, or 1%, followed by a larger tranche of 161 million shares, or 49%, on June 12.
Aequs will unlock 146 million shares, or 22%, on June 9. On June 10, ICICI Pru AMC will release 2 million shares, or 0.5%, while Meesho will see 3,083 million shares, or 68%, becoming eligible.
Vidya Wires will unlock 13 million shares, or 6%, on June 11. On June 12, CORONA Remedies will release 43 million shares, or 70%.
Nephrocare Health Services will unlock 51 million shares, or 51%, on June 17, while Park Medi World will release 17 million shares, or 4%. On June 19, ICICI Pru AMC will see a larger tranche of 344 million shares, or 70%, becoming eligible.
KSH International will unlock 0.9 million shares, or 1%, on June 22.
July: Final stretch led by large unlocks
Gujarat Kidney and Super Speciality will unlock 0.5 million shares, or 0.6%, on July 3.
On July 17, Bharat Coking Coal will see 3,259 million shares, or 70%, becoming eligible, one of the largest unlocks in the entire calendar.
Amagi Media Labs will unlock 121 million shares, or 56%, on July 20. On July 24, Shadowfax Technologies will release 260 million shares, or 45%.
Conclusion
Beginning April 1, the lock-in expiry schedule transitions into a sustained period of share supply across dozens of companies. The data shows repeated instances where more than half of a company’s equity becomes eligible for trading within a short span, particularly in mid-April, May and June.
The Nuvama report provides a comprehensive mapping of these unlocks across companies listed up to March 22, 2026. While not all shares will necessarily be sold, the scale, frequency, and clustering of these events ensure that the market will face a continuous test of demand over the coming months.