Shares worth $20B to be up for grabs by November
What's the story
Over the next three months, a massive $20 billion worth of pre-listing shareholder lock-ins will expire, potentially impacting the stock market. A report by Nuvama Institutional Equities has revealed that between August 25 and November 27, 2025, as many as 57 companies will witness their lock-ins lifted. The upcoming unlocks cover multiple sectors and mark a busy period for IPO lock-in expiries.
Market impact
Nuvama's analysis
The total value of these stocks stands at nearly $20 billion. However, Nuvama clarified that this figure represents the total lock-up opening shares and not all of them may hit the secondary market. A large portion is held by promoters and groups who may not sell immediately. The brokerage's analysis covers both promoter and non-promoter holdings for businesses that were listed up to August 20, 2025.
Schedule
Key unlocks in 1-month window
In the one-month window ending mid-September, several firms will see their shareholder lock-ins lifted. Key names include GNG Electronics (three million shares), Brigade Hotel Ventures (18 million), Aditya Infotech (four million), Sri Lotus Developers (eight million), and Highway Infrastructure (two million).
Major stocks
Major stocks in 3-month window
A bigger tranche of unlocks will occur between late August and mid-November under the three-month schedule. Major stocks include Belrise Industries (36 million shares), Prostarm Info Systems (two million), Aegis Vopak Terminals (27 million), Schloss Bangalore (18 million), and Scoda Tubes (two million). This period will see a significant number of companies unlocking their shareholder lock-ins.
List
Significant 6-month unlocks
Two major unlocks are planned within the six-month timeframe. Ather Energy will release around 162 million shares, which represents 44% of its total outstanding equity. Borana Weaves will issue around three million shares, amounting to 10% of the company's total outstanding equity. These significant unlocks could have a major impact on market dynamics in the coming months.