NTPC Green shares crack 9%, hit 52-week low as shareholder 3 month lock-in period ends today
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Shares of NTPC Green Energy cracked 9% to hit their new 52-week low of Rs 96.20 on the BSE on Monday, February 24, as its 3-month shareholder lock-in period expires today, freeing up 183 million shares to trade in the open market. This development means that nearly 183 million shares of NTPC Green Energy, which were previously restricted and could not be sold, are now eligible for trading. According to a report by domestic research firm Nuvama Alternative & Quantitative Research, these unlocked shares represent approximately 2% of the company’s total outstanding shares. A three-month share lock-in period refers to a specific duration of three months during which certain shareholders are restricted from selling or transferring their shares in the stock market. This restriction is often imposed following an initial public offering (IPO) to prevent a massive sell-off that could destabilize the stock price. Typically, lock-in periods last...