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Kolkata: Vikram Solar, Shreeji Shipping, Gem Aromatics and Patel Retail had their issues three months ago. Today, Nov 20, marks the end of the three-month lock-in period. As a result overnight as many as 1.5 crore stocks will be free for trading in the equity market from today. According to Nuvama Alternative & Quantitative Research, the total value of these shares at the current market price is about Rs 410 crore. There is no compulsion for the holders of the shares to sell them in the market, btu they are free to do so from today. Let's have a look at each of the stocks.
About 93 million shares of Vikram Solar, representing 3% of the company's total equity, will be available for trading in the market starting today, said Nuvama Alternative. These shares are worth Rs 275.7 crore based on the closing price of Nov 19. The issue price was Rs 332 per share and the price now is about Rs 300.
The lock-in period of Shreeji Shipping shares ends and Nuvama has said that 2.4 million shares -- 2% of the company's equity -- of the company will be available for trading. The value of these shares is about Rs 75 crore. The stock is now trading at Rs 309.75 against an issue price of Rs 252.
Nuvama Alternative said 9 lakh shares of Patel Retail will be available for trade from today. The price of the shares is Rs 218 this morning. The shares that are becoming free for trading represents 3% of the company's equity. The issue price of the stock was Rs 255.
The shares of Gem Aromatics were trading at Rs 176.21 on Nov morning. About 2.1 million shares of this company -- or 4% of its equity -- will become available in the market from today. The total value of these shares is approximately Rs 37.4 crore. The issue price was Rs 325 and the stock is trading at a significantly lower level.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)
