Description

IPO listing of 7,024,420 equity shares of DEFRAIL TECHNOLOGIES LIMITED with various lock-in periods ranging from 3 months to 3 years.

Summary

BSE has listed 7,024,420 fully paid equity shares of DEFRAIL TECHNOLOGIES LIMITED following its Initial Public Offering (IPO). The shares are distributed across different categories with varying lock-in periods, including promoter holdings with 1-3 year lock-ins and anchor investor allocations with 3-month lock-in periods.

Key Points

  • Total securities listed: 7,024,420 fully paid equity shares
  • All securities are in dematerialized (DEMAT) form
  • Promoter shares: 4,507,620 shares with lock-in periods of 1-3 years
  • Anchor investor allocation: 518,400 shares with 3-month lock-in
  • Public issue: 1,342,400 shares with no lock-in restrictions
  • Lock-in commencement date: January 7, 2026 and January 14, 2026 for different tranches
  • Distinctive number range: 1 to 7,024,420

Regulatory Changes

No regulatory changes introduced. This is a standard IPO listing following SEBI guidelines for equity share listings.

Compliance Requirements

  • All shares must remain in DEMAT form
  • Lock-in restrictions must be enforced as per the specified schedule
  • Promoters cannot sell 1,440,000 shares until January 16, 2029 (3-year lock-in)
  • Promoters cannot sell 1,856,000 shares until January 16, 2028 (2-year lock-in)
  • Promoters cannot sell 1,867,620 shares until January 16, 2027 (1-year lock-in)
  • Anchor investors cannot sell 260,800 shares until April 14, 2026 (3 months)
  • Anchor investors cannot sell 257,600 shares until February 15, 2026 (1 month)

Important Dates

  • January 7, 2026: Lock-in commencement for promoter shares (tranches 1-3)
  • January 14, 2026: Lock-in commencement for anchor investor shares
  • January 16, 2026: Listing date
  • February 15, 2026: Lock-in expiry for first tranche of anchor investors (257,600 shares)
  • April 14, 2026: Lock-in expiry for second tranche of anchor investors (260,800 shares)
  • January 16, 2027: Lock-in expiry for 1,867,620 promoter shares (1-year)
  • January 16, 2028: Lock-in expiry for 1,856,000 promoter shares (2-year)
  • January 16, 2029: Lock-in expiry for 1,440,000 promoter shares (3-year)

Impact Assessment

Market Impact: Medium - Addition of a new stock to BSE with immediate trading availability for 1,342,400 public issue shares (19.1% of total). The remaining shares will gradually become available for trading as lock-in periods expire.

Liquidity: Initial liquidity will be limited to the free float of approximately 19% until anchor lock-ins expire in February-April 2026, after which approximately 26.5% will be freely tradable.

Investor Impact: Public investors have immediate trading access while promoters demonstrate commitment through structured lock-in periods, providing stability. Gradual unlocking of shares over 3 years prevents sudden supply shocks to the market.

Impact Justification

Standard IPO listing notification affecting a new market entrant with structured lock-in periods for promoters and anchor investors