•Mandatory lock-ins on $69 billion worth of pre-IPO shares across 87 companies will expire over the next three months.
•The expiry makes these shares eligible for trading, potentially increasing market supply.
•The unlock cycle has begun, with ICICI Prudential AMC shares already tradable; KSH International and Gujarat Kidney & Super Speciality next.
•A larger wave of supply is expected from shares with six-month and longer lock-in periods, including Urban Company (66% of equity).
•Analysts suggest actual selling pressure may be limited due to promoter holdings and current market conditions, especially for stocks trading below issue price.
