Swiggy and Hyundai Motor India Face Major Lock-in Expiries in May-June

Synopsis: Several marquee 2025 IPOs are approaching critical 6-month and 1-year lock-in expiry windows in May-June 2026. Swiggy and Hyundai Motor India stand out as the two most significant names. A large number of previously restricted shares could become available, leading to notable volume changes and short-term price fluctuations. 

As May-June 2026 approaches, the mandatory lock-in periods for these listings begin to expire. Market participants watch this time closely for sudden increases in tradeable supply, changes in institutional positions, and higher intraday volatility. Swiggy Limited and Hyundai Motor India are the two names to keep an eye on.

Lock-In Expiry: Why It Matters

SEBI’s lock-in periods stop early shareholders from selling right after an IPO. Once these periods end, a wave of new shares becomes available for trading. Even with strong companies, this often leads to a price drop. Institutional investors may be required to sell their shares and return cash to their funds, regardless of the current stock price.

1. Swiggy

Swiggy’s share price is expected to experience heightened volatility in the near term, driven by market speculation surrounding potential exits by certain pre-IPO shareholders as the final 18-month lock-in window concludes. This follows a major milestone on May 12, 2025, when the mandatory six-month lock-in period for non-promoter, pre-IPO investors expired, making approximately 83% of Swiggy’s shareholding equivalent to 189.75 crore equity shares eligible for trading. 

With the total value of these previously locked-in shares estimated at approximately ₹62,000 crore, the upcoming June 2026 expansion represents the culmination of this liquidity release, likely triggering significant block deals and a temporary “supply shock” as the market absorbs the remaining influx of tradeable equity.

2. Hyundai Motor India

Hyundai Motor India is approaching a major milestone: its one-year “lock-in” expiry. After its record-breaking 2024 IPO, many large institutional and anchor investors are finally becoming eligible to sell their shares. Specifically, the stock enters the spotlight on April 20, 2026, when 163 million shares accounting for a substantial 20% of its total equity hit their expiry date. While Hyundai’s business remains very strong, driven by record SUV sales and a dominant market share in the mid-size segment, this event creates a notable technical supply risk. 

When these massive chunks of shares become tradeable, we often see large-scale “block deals” where institutional players swap ownership in the background to manage liquidity. Even though the company’s fundamentals are solid, the sudden influx of tradeable shares can temporarily pull the stock price down as the market works to absorb the new supply

What Investors Should Watch

Lock-in expiries are not necessarily bad news they are liquidity events. The price effect depends on whether sellers have the incentive to sell and if buyers are ready to take on the supply at current prices.

In the cases of Swiggy and Hyundai, the strong underlying businesses provide a natural buyer base. However, traders should keep an eye on bulk and block deal announcements on NSE and BSE in the weeks leading up to the expiry dates, as these often indicate institutional intentions before open market selling begins. 

The May-June 2026 period looks set to be one of the most volume-heavy times for certain 2025 IPOs, presenting both risks and opportunities depending on an investor’s position. 

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