Description

BSE announces the listing of 7,024,420 equity shares of DEFRAIL TECHNOLOGIES LIMITED following its IPO, with various lock-in periods applicable to different tranches.

Summary

BSE has listed equity shares of DEFRAIL TECHNOLOGIES LIMITED totaling 7,024,420 shares in dematerialized form. The listing includes shares with varying lock-in periods ranging from 3 months to 3 years depending on the category of securities and investors.

Key Points

  • Total shares listed: 7,024,420 equity shares
  • All shares issued in fully paid dematerialized form
  • Multiple tranches with different lock-in periods
  • Anchor investor allocations: 260,800 shares (3-month lock-in) and 257,600 shares (1-month lock-in)
  • Long-term lock-in tranches: 1,440,000 shares (3 years), 1,856,000 shares (2 years), and 1,867,620 shares (1 year)
  • Free float: 1,342,400 shares with no lock-in restrictions

Lock-in Details

3-Year Lock-in (until January 16, 2029)

  • 1,440,000 shares (Distinctive Numbers: 1 to 1,440,000)
  • Lock-in start: January 7, 2026

2-Year Lock-in (until January 16, 2028)

  • 1,856,000 shares (Distinctive Numbers: 1,440,001 to 3,296,000)
  • Lock-in start: January 7, 2026

1-Year Lock-in (until January 16, 2027)

  • 1,867,620 shares (Distinctive Numbers: 3,296,001 to 5,163,620)
  • Lock-in start: January 7, 2026

Anchor Investor Allocation - 3 Months (until April 16, 2026)

  • 260,800 shares (Distinctive Numbers: 5,163,621 to 5,424,420)
  • Lock-in start: January 14, 2026

Anchor Investor Allocation - 1 Month (until February 15, 2026)

  • 257,600 shares (Distinctive Numbers: 5,424,421 to 5,682,020)
  • Lock-in start: January 14, 2026

Free Float (No Lock-in)

  • 1,342,400 shares (Distinctive Numbers: 5,682,021 to 7,024,420)

Compliance Requirements

  • All shares must be held in dematerialized form
  • Lock-in restrictions must be observed as per specified periods
  • Promoters and anchor investors must comply with respective lock-in obligations

Important Dates

  • January 7, 2026: Lock-in start date for promotional holdings (3-year, 2-year, and 1-year tranches)
  • January 14, 2026: Lock-in start date for anchor investor allocations
  • January 16, 2026: Listing date
  • February 15, 2026: End of 1-month anchor lock-in
  • April 16, 2026: End of 3-month anchor lock-in
  • January 16, 2027: End of 1-year promotional lock-in
  • January 16, 2028: End of 2-year promotional lock-in
  • January 16, 2029: End of 3-year promotional lock-in

Impact Assessment

Market Impact: Medium. The IPO adds a new listed entity to BSE with approximately 19% free float (1,342,400 shares) immediately available for trading. The staggered lock-in release schedule will gradually increase liquidity over a 3-year period.

Investor Impact: Anchor investors have near-term exit options (1-3 months), while promotional holdings face extended lock-in periods ensuring long-term commitment. The immediate free float of 1.34 million shares provides adequate liquidity for retail trading.

Impact Justification

New IPO listing with standard lock-in requirements affecting specific investor categories but not broad market impact