$35 billion worth of IPO shares across 70 companies will unlock between May 26 and August 31, 2026, according to Nuvama Alternative & Quantitative Research data, the most concentrated post-IPO float release the Indian market has seen in recent year.
Contents
| Metric | Details |
|---|---|
| Companies Unlocking | 70 |
| Unlock Period | May 26 – Aug 31, 2026 |
| Total Shares Eligible | $35B (by market value) |
| Largest Single Event | $12.1B — ICICI Prudential AMC (Jun 19) |
| Meesho Unlock | $6.3B — 308 crore shares (Jun 10) |
As of May 28, three lock-in expiries have already been executed this week. On May 26, 30 lakh shares of Gaudium IVF and Women’s Health worth $4 million became free.
By May 27, Clean Max Enviro Energy Solutions (40 lakh shares, $51 million), Sudeep Pharma (20 lakh shares), and Borana Weaves (120 lakh shares) followed, adding $53 million more to the float. The machinery is already running.
This is not a routine calendar event. The combined $35 billion unlocking over the next 98 days is one of the most concentrated post-IPO float releases the Indian market has seen in recent years, concentrated primarily in the June window, when the heaviest six-month lock-ins from the December 2025 IPO boom expire simultaneously.
Lock-in expiries do not automatically trigger selling. Shares become eligible for trade, not mandatorily sold. Supply risk is highest where post-listing returns are flat or negative, where a large single holder is sitting on thin margins, or where the original investment thesis has visibly not played out. Three names fit all three criteria: Wakefit, Mobikwik, and Vishal Mega Mart.
June: Where the real pressure builds
The calendar front-loads heavily into the first three weeks of June. Here is every confirmed expiry with value and share count:
| Company | Expiry date | Shares (million) | Value ($M) | Lock-in |
|---|---|---|---|---|
| ALREADY EXPIRED (MAY 26–27) | ||||
| Gaudium IVF and Women’s Health | 26-May-26 | 3 | 4 | 3 month |
| Clean Max Enviro Energy Solutions | 27-May-26 | 4 | 51 | 3 month |
| Sudeep Pharma | 27-May-26 | 2 | 13 | 6 month |
| Borana Weaves | 27-May-26 | 12 | 48 | 6 month |
| UPCOMING — MAY 29 TO JUNE 4 | ||||
| PNGS Reva Diamond Jewellery | 29-May-26 | 2 | 10 | 3 month |
| WatchSchloss Bangalore (The Leela) | 1-Jun-26 | 187 | 811 | 6 month |
| Belrise Industries | 1-Jun-26 | 471 | 1,050 | 6 month |
| Enviro Infra Engineers | 1-Jun-26 | 37 | 80 | 6 month |
| Omnitech Engineering | 1-Jun-26 | 4 | 17 | 3 month |
| OnEMI Technology (Kissht) | 5-Jun-26 | 8 | 21 | 1 month |
| Wakefit Innovations (tranche 1) | 3-Jun-26 | 4 | 6 | 6 month |
| JUNE 8–14: HIGH VOLUME WEEK | ||||
| SEDEMAC Mechatronics | 8-Jun-26 | 1 | 26 | 3 month |
| Aegis Vopak Terminals | 8-Jun-26 | 742 | 1,624 | 6 month |
| Aequs | 9-Jun-26 | 146 | 330 | 6 month |
| Watch Meesho. | 10-Jun-26 | 3,083 | 6,356 | 6 month |
| ICICI Pru AMC (tranche 1) | 10-Jun-26 | 2 | 88 | 6 month |
| Suraksha Diagnostic | 10-Jun-26 | 11 | 35 | 6 month |
| Vidya Wires | 11-Jun-26 | 13 | 12 | 6 month |
| GSP Crop Science | 18-Jun-26 | 9 | 34 | 3 month |
| At risk: Wakefit Innovations (tranche 2) | 12-Jun-26 | 161 | 222 | 6 month |
| CORONA Remedies | 12-Jun-26 | 43 | 763 | 6 month |
| Ikio Lighting | 15-Jun-26 | 25 | 15 | 6 month |
| JUNE 17–23: VISHAL, ICICI SECOND TRANCHE | ||||
| Park Medi World | 17-Jun-26 | 17 | 50 | 6 month |
| At riskVishal Mega Mart | 17-Jun-26 | 923 | 1,161 | 6 month |
| Nephrocare Health Services | 17-Jun-26 | 51 | 335 | 6 month |
| Sai Life Sciences | 17-Jun-26 | 42 | 495 | 6 month |
| Inventurus Knowledge Solutions | 18-Jun-26 | 34 | 586 | 6 month |
| At riskOne Mobikwik Systems | 18-Jun-26 | 16 | 32 | 6 month |
| CMPDI | 23-Jun-26 | 14 | 34 | 3 month |
| Largest event: ICICIÂ Pru AMC (tranche 2) | 19-Jun-26 | 344 | 12,168 | 6 month |
| Oswal Pumps | 19-Jun-26 | 61 | 235 | 6 month |
| KSH International | 22-Jun-26 | — | — | 6 month |
Source: Nuvama Alternative & Quantitative Research, NiftyTrader analysis
Stock-by-stock breakdown: the names to watch
Meesho—Jun 10  $6.3B unlock
- 308 crore shares worth $6.35 billion become eligible for trade on June 10
- Listed December 2025 at Rs 162 on NSE — 46% premium over issue price of Rs 111
- Stock hit Rs 254 peak on Dec 18, a 129% gain within 7 sessions of listing
- Has since reversed 26% and now trades around Rs 188
- Pre-IPO holders who bought at Rs 111 are still sitting on ~69% gains — meaning sell pressure is real
ICICI Prudential AMC — two tranches  Strong performer
- First tranche: 20 lakh shares worth $88 million unlock Jun 10
- Second tranche: 34 crore shares worth $12.1 billion unlock Jun 19 — the single largest unlock event in this entire cycle
- Stock has gained 33% in 2026 YTD — holders are in profit, making selective selling likely
- The split structure is significant: watch for front-running activity in the Jun 10–19 window
Schloss Bangalore (The Leela) — Jun 1  $811M
- 187 million shares worth $811 million unlock on Monday Jun 1
- Operates luxury hotel chain under ‘The Leela’ brand — listed BSE/NSE in June 2025
- This is the first major six-month expiry of the week; Monday open will be closely watched
Wakefit Innovations — two tranches  Down 32% YTD
- First expiry: 40 lakh shares worth $6 million on Jun 3
- Larger tranche: 161 million shares worth $222 million on Jun 12
- Stock fell 32% in 2026 and 12% in just the past week — one of the worst performers in this cohort
- Made a flat market debut in December 2025; early investors have no gains to protect, increasing hold probability — but also reducing any natural buying cushion
Vishal Mega Mart — Jun 17  Down 11% in 2026
- 923 million shares worth $1.16 billion eligible for trade on Jun 17
- Listed December 2024 at Rs 110 on BSE — 41% premium over IPO price
- Stock down 3% over one year, 11% so far in 2026, and 2% in the past week
- Holders who came in at the IPO price are still in profit; those who bought post-listing are underwater
Mobikwik — Jun 18  Down 26% in one year
- 16 million shares worth $32 million unlock Jun 18
- Listed December 2024 with a 59% premium over IPO price
- Stock has fallen more than 26% in one year, 13% in 2026 YTD, and another 13% in one month
- Among the most consistent underperformers in the December 2024 IPO cohort
OnEMI Technology (Kissht) — Jun 5  Recent listing
- 80 lakh shares worth $21 million enter one-month lock-in expiry on June 5
- Listed in May 2026 with an 11% premium — one of the most recent companies in this cycle
- A one-month expiry is an unusually short window; shares technically free up for certain early investors and anchor allottees
Three-bucket risk framework
Not all unlocks carry equal market risk. Based on post-listing performance and holder return profile:
| Risk tier | Companies | Why |
|---|---|---|
| High sell pressure | Wakefit, Mobikwik, Vishal Mega Mart | Flat or negative returns, IPO holders partially underwater or at thin gains |
| Moderate — watch closely | Meesho, Schloss Bangalore | Large float additions; early holders still in strong profit, selective profit-booking likely |
| Lower immediate risk | ICICI Pru AMC (tranche 1), OnEMI | With smaller float addition or strong stock performance, holders less motivated to exit at current levels |
Next trigger to watch: June 1, 2026 — Schloss Bangalore (187 million shares, $811M), Belrise Industries (471 million shares, $1.05B), and Enviro Infra Engineers (37 million shares, $80M) all see simultaneous six-month expiries at market open, 9:15 AM IST. Combined float addition: approximately $1.94 billion in a single session.
Frequently asked questions
Which IPO lock-in expiry is the largest in India in 2026?
 ICICI Prudential AMC’s June 19 expiry is the single largest, 34 crore shares worth over $12.1 billion become eligible for trade on that date, per Nuvama Alternative & Quantitative Research data.
When does Meesho’s lock-in period expire?
Meesho’s six-month lock-in expires on June 10, 2026. Over 308 crore shares worth approximately $6.35 billion will become eligible for trading. The stock has fallen 26% from its December peak of Rs 254 and currently trades around Rs 188.
Which stocks are most at risk after their lock-in expiry in June 2026?
Wakefit Innovations (down 32% YTD), Mobikwik (down 26% in one year), and Vishal Mega Mart (down 11% in 2026) carry the highest near-term supply risk. All three have holders who are close to break-even or in shallow profit, reducing the incentive to hold post-expiry.
