Shares of Inox India Ltd slipped 0.55% to ₹1,167.20 in early trade on Thursday, as investor attention turned to the expiry of the company’s shareholder lock-in period scheduled for Friday. The stock had closed at ₹1,173.60 in the previous session.
According to Nuvama Alternative and Quantitative Research, as many as 1.8 crore shares—equivalent to 20% of Inox India’s outstanding equity—will become eligible for trading post the lock-in expiry. Based on the stock’s latest closing price, this equates to over ₹2,000 crore worth of shares potentially entering the market.
It is important to note that the end of the lock-in period does not imply an immediate sell-off, but rather that these shares are now permitted to be traded on the open market.
Promoters currently hold a 75% stake in Inox India, while mutual funds own 4.91%—led by DSP Mutual Fund and ICICI Prudential Mutual Fund. Additionally, Goldman Sachs India Equity Portfolio holds a 2.16% stake, and nearly 1.76 lakh small retail shareholders (with holdings up to ₹2 lakh) collectively own 9.75% of the company as of the March quarter.
Despite the lock-in expiry concerns, Inox India recently announced new order wins worth ₹373 crore in FY26 across its business verticals, reflecting continued demand momentum. The stock currently trades at a market cap of ₹106.07 billion with a P/E ratio of 47.00.
