Nykaa's shares trade flat on anchor investor's lock-in expiry day; Fino Payments Banks, SJS enterprises next in line

The one-month share sale restrictions on anchor investors of Nykaa, Fino Payments Banks and SJS enterprises will be ending this week. As many as three such stocks will see the deadline for anchor investors to sell shares expiring this week. Nykaa is the first stock in which deadline for anchor investors will end today. Similarly, the deadline for anchor investors of Fino Payments Banks and SJS enterprises will end on December 9 and 10, respectively.  

On the anchor lock-in expiry day, Nykaa shares were trading flat at Rs 2171.65, a gain of 19.05 or 0.88% on the BSE in Wednesday's intraday trade. Ahead of the anchor investors lock-in expiry, the shares have corrected over 14 per cent in the last 5 trading sessions, as per Stock Edge.

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Likewise, Fino Payments Banks shares corrected 8 per cent and SJS enterprises traded flat in the last 5 trading sessions.  

This will be a testing time for these stocks as such stocks have traditionally declined on the anchor opening date. The shares have corrected even further in next 5 trading sessions.

Altogether, there will be 10 stocks—FSN Ecommerce Ventures, FINO Payments Bank, SJS Enterprises, PB Fintech, Sigachi Industries, One 97 Communications, Sapphire Foods, Latent View Analytics, Tarsons Products and Go Fashion — which will see the restrictions placed on anchor investors' share sell lifting in December.  

Who is an anchor investor?  

As per Ministry of Corporate Affairs, a Qualified Institutional Buyer (QIB) is an anchor investor who make an application of a value of at least Rs 10 crore in a public issue. There shall be a lock-in of 30 days on the shares allotted to the Anchor Investor from the date of allotment in the public issue.

Allocation to Anchor Investors shall be on a discretionary basis and subject to the conditions laid down by the ministry and the Securities Exchange Board of India (SEBI).