Leading the downturn was AI Finance, whose stock cratered 7.42% after just one month of trading restrictions lifted. This unleashed 17.6 million shares, equivalent to 7% of the firm’s total equity, prompting heavy selling. The stock has now lost over 14% in five sessions and 24% in a month.

Fractal Analytics shares dropped 4.35%, with 6.9 million shares (4% equity) now tradable. Trading at ₹764.35, down 3.98% by early afternoon, it remains 15% off its debut price.

Healthcare plays also faltered: Park Medi World declined 3.2% as 8.5 million shares (2% equity) became available, and Nephrocare Health Services fell 2.8% with 2.8 million shares (3% equity) unlocked.

According to Nuvama Wealth Management, this is just the beginning. Of the 88 companies that went public recently, lock-ins for pre-listing investors end progressively until mid-2026, releasing shares valued at nearly ₹6.6 lakh crore. Such supply surges historically weigh on prices, testing investor resolve.

While short-term holders face headwinds, analysts point out that lock-in expiries often precede consolidation phases. The broader market’s resilience will determine if these dips become buying opportunities or deeper corrections.