Swiggy, Ola Electric, NTPC Green, and Others May Offload ₹70,500 Crore in Shares

Amidst heightened volatility in Indian equities, with benchmark indices declining nearly 9% from their peak levels, the market could witness an influx of shares worth approximately ₹70,500 crore in February. This is due to the expiration of the lock-in period for several recently listed companies.

Over 25 companies, including notable names such as Swiggy, NTPC Green Energy, TVS Supply Chain, Northern Arc Capital, FirstCry, Ola Electric, and Unicommerce Solutions, will see their IPO lock-in restrictions lifted this month, according to an analysis by Moneycontrol based on a report from Nuvama Institutional Equities.

Among these, Ola Electric will experience the largest release in terms of volume, with 1,962.2 million shares becoming eligible for trade on February 10. Other companies that will see a significant number of shares unlocked include FirstCry (335.3 million), SBFC Finance (225.5 million), NTPC Green Energy (183.3 million), Sagility India (157.6 million), Juniper Hotels (128 million), Ceigall India (108.1 million), and Premier Energies (105.6 million), all of which have over 100 million shares set to become available for sale.

However, while these shares will be eligible for trading, there is no certainty that investors will immediately offload them upon the lock-in period’s expiration. The key takeaway is that shareholders will have the flexibility to sell if they choose to do so.

From a valuation standpoint, FirstCry has the highest potential unlocked value at ₹15,979 crore, followed by Ola Electric at ₹14,691 crore and Premier Energies at ₹10,752 crore. Other firms with a potential sellable value exceeding ₹1,000 crore include Concord Biotech (₹4,665 crore), Juniper Hotels (₹3,747 crore), Ceigall India (₹3,184 crore), Swiggy (₹2,827 crore), NTPC Green Energy (₹2,038 crore), Northern Arc Capital (₹1,971 crore), SBFC Finance (₹1,913 crore), TVS Supply Chain (₹1,271 crore), and Interarch Building (₹1,052 crore).

Additionally, companies such as Capital Infra Trust, Sagility India, BLS E Services, Unicommerce Solutions, ACME Solar, Saraswati Saree Depot, Enviro Infra, Quadrant Future, and Stallion India will also see their lock-in periods conclude in February.

According to Nuvama’s report, by April 30, the total potential value of shares eligible for sale could reach approximately $32 billion, as more than 80 companies will see their respective lock-in periods expire.