Anchor lock-in expiry this week touches five mainboard IPOs, on 10 and 11 October 2026. Anchor investors had put ₹679.28 crore into four of them at the issue price, and half of that block of shares stops being locked. The fifth, Kusumgar, crosses its 90-day date, when the rest of its anchor shares come free.
That works out to about ₹340 crore of shares at issue price from the four 30-day expiries. Four of the five are trading above their issue price. One is 21.86 per cent below it.
Which IPOs, and what comes free
Read the last three columns together. The price is the latest our tracker carries.
| Company | Lock-in ends | What unlocks | Issue price | Price now | vs issue | Anchor money |
|---|---|---|---|---|---|---|
| Pranav Constructions | Sat 10 Oct | 50% of anchor shares (30 days) | ₹124 | ₹96.89 | -21.86% | ₹84.24 crore from 14 anchors |
| Kanohar Electricals | Sun 11 Oct | 50% of anchor shares (30 days) | ₹632 | ₹914.00 | +44.62% | ₹316.69 crore from 42 anchors |
| Prasol Chemicals | Sun 11 Oct | 50% of anchor shares (30 days) | ₹676 | ₹803.00 | +18.79% | ₹149.99 crore from 14 anchors |
| Glass Wall Systems (India) | Sun 11 Oct | 50% of anchor shares (30 days) | ₹182 | ₹267.00 | +46.70% | ₹128.36 crore from 15 anchors |
| Kusumgar | Sun 11 Oct | Remaining anchor shares (90 days) | ₹419 | ₹595.00 | +42.00% | Not in our anchor book |
What an anchor lock-in actually is
Anchor investors are large institutions. They get their shares one working day before an IPO opens to everyone else, at the issue price, in a round the company and its bankers allocate by hand. In return SEBI locks those shares up in two parts. Half come free 30 days after allotment. The rest come free after 90 days.
When a lock-in date passes, the shares can be sold. They need not be. Free to trade is not the same as will be sold, and this is worth saying once plainly: an expiry date tells you nothing about what any anchor intends to do.
Three of this week's five placed close to the same share of their issue with anchors. Kanohar Electricals put ₹316.69 crore of a ₹1,055.74 crore offer that way, Prasol Chemicals ₹149.99 crore of ₹500 crore and Glass Wall Systems ₹128.36 crore of ₹427.89 crore. Each works out to 30 per cent. Pranav Constructions is the outlier at ₹84.24 crore of ₹351.03 crore, or 24 per cent.
Pranav Constructions is the one below its issue price
Pranav Constructions priced at ₹124 and opened at ₹165 on listing day, a 33.06 per cent gain that ranked 18th of the 92 mainboard listings in 2026 on our data. The share is now at ₹96.89. That is 21.86 per cent under the issue price, so the 14 anchors who paid ₹84.24 crore are carrying a loss on paper.
Demand was not the problem at the time. The book closed at 121 times, the 15th most subscribed of the 99 mainboard IPOs that closed this year, against a median of 24.96 times. Retail alone was booked 43.33 times, so roughly one retail application in 43 got a lot. The anchor money was 24 per cent of the ₹351.03 crore issue, the smallest anchor share of the five.
Kanohar Electricals has the biggest anchor book
Three of the five put the full 30 per cent of the issue with anchors, and Kanohar Electricals did it on the largest issue. Its 42 anchors paid ₹316.69 crore, or 30 per cent of the ₹1,055.74 crore offer. Half of that, about ₹158 crore at the ₹632 issue price, crosses its date on 11 October.
The share is at ₹914, up 44.62 per cent on the issue price, which is the second best of this week's five. It had closed its book at 90.59 times, 26th of the 99 mainboard IPOs this year. Prasol Chemicals and Glass Wall Systems also placed 30 per cent with anchors, ₹149.99 crore and ₹128.36 crore respectively.
Kusumgar sits apart from the other four. Its 11 October date is the 90-day one, which means its anchors have already been through a 30-day expiry roughly two months ago and this is the second and final tranche. It priced at ₹419, opened at ₹574 on listing and now trades at ₹595, 42 per cent above the issue price. Glass Wall Systems is the best placed of the five at ₹267 against a ₹182 issue price, up 46.70 per cent, on a ₹427.89 crore issue that was booked 81.65 times.
Nothing can trade on either of those two days
10 October 2026 is a Saturday. 11 October is a Sunday. The exchanges are closed on both. So whatever the calendar says, the first session in which any of these shares can change hands is Monday, 12 October 2026. All five expiries land on that one trading day.
This is the part a lock-in date hides. A weekend expiry does not stretch the lock-in. It simply means the first opportunity to sell arrives together for every one of these five, rather than spread across the week.
What happens next
Monday 12 October is the session to watch. Kusumgar's 11 October date is its last anchor lock-in, because the 90-day tranche is the final one. The other four still have their second half locked until each one's own 90-day date, and you can follow those on our IPO calendar.
For the wider picture, 61 of the 92 mainboard IPOs that listed in 2026 opened above their issue price, with a median listing gain of 7.15 per cent. Where each of these five sits against that record is on our mainboard listing performance page.
Frequently asked questions
What does anchor lock-in expiry mean?
It is the date on which shares allotted to anchor investors stop being locked and become sellable. Half the anchor shares come free after 30 days and the rest after 90 days.
Which anchor lock-ins end this week?
Pranav Constructions on 10 October, and Kanohar Electricals, Prasol Chemicals, Glass Wall Systems (India) and Kusumgar on 11 October 2026.
Can these shares be sold on 10 October 2026?
No. 10 and 11 October are a Saturday and a Sunday. The first trading session after all five dates is Monday, 12 October 2026.
