As we transition into June 2025, the Indian equity market will witness a crucial moment for three high-profile IPOs — Belrise Industries, Borana Weaves, and Ather Energy — as the first tranche of anchor investor lock-in periods are set to expire this month. Anchor investors, often comprising institutional giants, are pivotal in providing early credibility and price stability to IPOs. However, the conclusion of their mandatory lock-in periods can potentially trigger significant stock movements, particularly if profit-booking ensues.
Here’s a closer look at IPO anchor lock-in expiry June 2025, their anchor allocations, lock-in expiry timelines, and what market participants should monitor.
1. Belrise Industries
Lock-in Expiry (50% Anchor Shares): 27 June 2025
IPO Listing Date: 28 May 2025
Anchor Allocation: INR 645 crore (7.17 crore shares at INR 90 each)
Total IPO Size: INR 2,150 crore (Fresh Issue: 23.89 crore shares)
Anchor Portion of IPO: 30.00%
Belrise Industries, a Tier-1 automotive component supplier, witnessed strong institutional interest in its INR 2,150 crore IPO. The company allocated 7.17 crore shares to anchor investors, amounting to 30% of the total issue.
Notably, all anchor shares were allotted at the upper price band of INR 90 per share, indicating high demand. The listing price surged to INR 97.41, delivering an immediate 8.23% listing gain. The stock has remained relatively stable post-listing, reflecting investor confidence.
However, with the Belrise Industries IPO lock-in expiry approaching on 27 June for 50% of anchor shares (~3.58 crore shares), market watchers will be closely monitoring for signs of potential selling pressure. If large institutions decide to trim holdings, it may impact short-term sentiment despite the company’s robust fundamentals and EV-agnostic product portfolio.
2. Borana Weaves
Lock-in Expiry (50% Anchor Shares): 22 June 2025
IPO Listing Date: 27 May 2025
Anchor Allocation: INR 65.20 crore (30.18 lakh shares at INR 216 each)
Total IPO Size: INR 144.89 crore (Fresh Issue: 67.08 lakh shares)
Anchor Portion of IPO: 45.00%
Borana Weaves, a Surat-based textile manufacturer, executed a 100% fresh issue IPO priced between INR 205–216. It saw 45% of the issue subscribed by anchor investors, showcasing solid institutional confidence.
Post-listing, Borana Weaves spiked to INR 255.15 on debut, marking an 18.13% listing gain. It continues to trade well above the issue price, aided by its strong return metrics (FY24 ROE: 49.45%) and efficient textile manufacturing processes.
The Borana Weaves IPO lock-in expiry on 22 June will release 50% of anchor shares (~15.09 lakh shares), potentially prompting activity from early investors. Given the stock’s impressive debut and modest float, even small sell volumes might affect price volatility in the near term.
3. Ather Energy
Lock-in Expiry (50% Anchor Shares): 1 June 2025
IPO Listing Date: 6 May 2025
Anchor Allocation: INR 1,340.03 crore (4.17 crore shares at INR 321 each)
Total IPO Size: INR 2,980.76 crore (Fresh: 8.18 crore shares, OFS: 1.10 crore)
Anchor Portion of IPO: 45.00%
Electric two-wheeler manufacturer Ather Energy launched one of the most anticipated IPOs of the year. With a robust INR 2,980 crore issue and a 45% anchor allocation, it attracted marquee institutional investors who were allotted shares at INR 321 — the upper band.
However, the listing performance was muted. The stock opened at INR 302.30, a -5.83% discount, and has since shown limited upside, hovering around INR 312.40 as of the latest trade.
Ather Energy IPO lock-in expiry is on 1 June 2025, the first half (~2.09 crore shares) of anchor investors’ holdings become free to sell. This could be a turning point — either catalyzing a correction if investors exit due to underwhelming returns, or stabilizing if anchor funds remain optimistic on the company’s long-term EV strategy.
Why Anchor Lock-ins Matter
The SEBI-mandated lock-in period for anchor investors is 30 days for 50% of their holdings and 90 days for the remainder. This mechanism prevents early dumping of shares post-listing, enhancing price stability.
However, for IPO anchor lock-in expiry June, especially for large-cap IPOs like Ather and Belrise, market participants typically anticipate either:
- Profit booking: Common when stocks have gained significantly post-listing.
- Price support or accumulation: When long-term fundamentals remain strong, and anchors hold or add to positions.
IPO Anchor Lock-In Expiry June
| Company | Anchor Lock-in Ends | Anchor Shares (50%) | IPO Price (INR) | Value Unlocking (INR Cr) |
|---|---|---|---|---|
| Ather Energy | 1 June 2025 | 2,08,72,788 | 321 | 670.03 |
| Borana Weaves | 22 June 2025 | 15,09,271 | 216 | 32.00 |
| Belrise Industries | 27 June 2025 | 3,58,33,333 | 90 | 322.50 |
💡 Total Anchor Shares Unlocking in June 2025: ~INR 1,024.53 crore
Investor Takeaway
With over INR 1,000 crore worth of anchor investor shares unlocking in June across just these three IPOs, institutional behavior will be under the spotlight. While fundamentals remain intact for all three firms, short-term volatility is highly probable, especially if exit cues are taken from anchor movements.
Retail and institutional investors alike should monitor volumes, block trades, and disclosures from mutual funds or FPI participants to gauge sentiment. June may not just be a turning point for these IPOs, but also a bellwether for broader market appetite in the mid-cap and growth sectors.
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