Trading restrictions on shares held by anchor investors in 18 recently listed Indian companies are set to lift in October. These expirations coincide with a period of robust fundraising in India’s initial public offering (IPO) market, even as the broader stock market experiences modest growth.
October Share Unlocks Cover 18 Stocks
According to a fortnightly review by PL Research, 14 companies are approaching the expiration of their 30-day anchor lock-in period, while four are nearing their 90-day mark. These events are scheduled to take place between October 5 and October 16, 2026.
Anchor investors are allotted shares ahead of an IPO’s public subscription phase, and a lock-in period restricts them from offloading these shares immediately. Once this window closes, the shares become eligible for trading, though expiration does not guarantee that any investor will choose to sell.
Purple Style Labs and Manipal Payment & Identity Solutions each have approximately 22% of their shares opening up for trading. Rays of Belief follows closely at roughly 20%, whereas Pranav Constructions accounts for the smallest share within the 30-day cohort at about 12%.
ESDS Leads 30-Day Unlock Gains
The remaining firms in the 30-day category include Lumino Industries, ESDS Software Solution, Priority Jewels, Deepa Jewellers, Glass Wall Systems, Prasol Chemicals, Kanohar Electricals, Rentomojo, Asset Reconstruction Co. (India), and Steamhouse India. Each of these companies has roughly 15% of its shares becoming eligible for trading, per the review.
In terms of absolute numbers, Purple Style Labs has 2,660,869 shares nearing expiration. Manipal Payment & Identity Solutions accounts for 5,342,916 shares, and Rays of Belief has 1,046,095 shares up for unlock.
“Stock performance across the upcoming 30-day unlocks remains largely positive, with 11 of the 14 companies currently trading above their IPO issue price,” PL Research reported.
Leading the group, ESDS traded approximately 234% higher than its issue price. Glass Wall Systems rose by 51%, Priority Jewels by 47%, Steamhouse India by 35%, Kanohar Electricals by 34%, and Rentomojo by 27%. On the other hand, Pranav Constructions traded 20% below its issue price, while Purple Style Labs dropped 7% and Rays of Belief saw a 5% decline.
Additional gains were reported across other stocks: Manipal Payment & Identity Solutions, Prasol Chemicals, and Lumino Industries each advanced by about 21%. Deepa Jewellers stood 11% higher, and Asset Reconstruction Co. (India) traded roughly 3% above its initial price.
Four Stocks Face 90-Day Unlocks
The 90-day unlock group consists of Knack Packaging, Kusumgar, Laser Power & Infra, and SBI Funds Management. Each of these four entities will see roughly 14% to 15% of their shares become eligible for trading.
The expiration schedule begins with Knack Packaging on October 5, releasing 3,860,294 shares. Kusumgar and Laser Power & Infra follow on October 12, unlocking 2,314,443 and 5,200,934 shares, respectively. Finally, SBI Funds Management faces an October 15 expiration covering 23,196,554 shares.
Based on the review’s reference prices, Kusumgar traded 43% above its IPO price. Laser Power & Infra gained 23%, and Knack Packaging increased by 6%. Conversely, SBI Funds Management traded roughly 12% below its issue price.
IPO Fundraising Hits Half-Year Record
The upcoming share unlocks follow a hectic stretch for new public offerings. Data from PRIME Database Group indicates that Indian companies secured Rs. 2.43 trillion (USD 25.27 billion) via equity fundraising during the first half of fiscal 2027, spanning April through September. This marked a 75% increase compared to the previous year.
Mainboard IPOs accounted for Rs. 942.05 billion distributed across 78 separate issues. Average listing gains climbed to 19% from 7%, whereas the benchmark Nifty 50 index grew by 1.3% over the identical timeframe.
Pranav Haldea, managing director of PRIME Database Group, attributed this divergence to a backlog of IPOs paired with robust domestic liquidity. According to the database, close to 250 companies were gearing up to raise an estimated Rs. 4.65 trillion via IPOs.
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