According to Nuvama Alternative and Quantitative Research, around 285.8 crore shares, or nearly 67% of the company’s outstanding equity, will become eligible for trading following the expiry of the lock-in period.
The expiry does not necessarily imply immediate selling in the open market, but only makes these shares available for trading.
At Friday’s closing price, the shares coming out of the lock-in are valued at nearly ₹93,742.4 crore. The stock is currently up just 0.6% from its issue price of ₹326.
Analyst sentiment remains positive, with all seven analysts tracking the company maintaining a ‘Buy’ rating, and price targets going up to ₹410 per share.
Tata Capital’s ₹15,000 crore-plus IPO was fully subscribed by the end of the bidding period. The stock debuted close to its issue price and has largely remained range-bound since.
Shares of Tata Capital ended 0.57% higher on Friday at ₹328, taking its one-month gains to about 5%.
Apart from Tata Capital, WeWork India, BMW Ventures, Bajaj Housing Finance, and Advance Agrolife will also see their shareholder lock-ins expire on Monday, April 13.
Barring Bajaj Housing Finance, Tata Capital, and Advance Agrolife, the other two companies are trading well below their issue prices. Even Bajaj Housing Finance, Advance Agrolife, and Tata Capital are currently hovering around their respective issue prices.
ALSO READ | 5 cos will see shares worth ₹1.15 lakh cr free up for trade today
