Tuesday, 02 January 2024 12:17 GMT

Fractal Analytics, Aye Finance Among 4 Stocks That Slip Up To 7.4 Pc After IPO Lock-In Expiry


(MENAFN- IANS) Mumbai, March 16 (IANS) Shares of four recently listed companies declined in Monday's trading session after a significant number of shares became eligible for trading following the expiry of their IPO lock-in periods.

The sharpest fall was seen in Fractal Analytics, whose share price slipped up to 4.35 per cent after around 0.69 crore shares, representing nearly 4 per cent of its total equity, were unlocked for trading.

At 1:50 p.m., the shares were trading 3.98 per cent lower at Rs 764.35. The stock is currently trading about 12 per cent below its IPO price of Rs 900.

Aye Finance also witnessed notable selling pressure as its stock dropped 7.42 per cent after the expiry of its one-month lock-in period.

In last five days, the shares were down by 14.64 per cent. However, the shares delivered negative return of 24.29 per cent to its investors in last one month

With the restriction lifted, nearly 1.76 crore shares, accounting for about 7 per cent of the company's equity, became available for trading in the market.

Similarly, shares of Park Medi World declined 3.2 per cent after approximately 0.85 crore shares, or around 2 per cent of its equity, were released from the lock-in.

Nephrocare Health Services also saw its stock fall by 2.8 per cent as about 0.28 crore shares, representing nearly 3 per cent of its equity, became tradable on March 16.

Meanwhile, a report by Nuvama Wealth Management highlighted that lock-in periods for pre-listing investors in 88 companies that recently went public are scheduled to expire between March 11 and June 29, 2026.

This could potentially make shares worth nearly $72 billion, or around Rs 6.6 lakh crore, eligible for trading in the coming months, which may influence market sentiment and stock movements.

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IANS

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