The six-month lock-in period for 1,12,500 IPO shares allocated to the mutual fund under Guardian Micro Life Insurance will expire on Saun 4, allowing secondary market trading.
The lock-in period for 1,12,500 shares of Guardian Micro Life Insurance allocated to a mutual fund is set to end on Saun 4. These shares were part of the company’s Initial Public Offering (IPO), and as per regulations, shares allotted to mutual funds are subject to a six-month lock-in period starting from the IPO allotment date.
The shares will now be eligible for secondary market trading after the completion of this mandatory holding period.
However, the shares held by the company’s founders and employees will remain locked-in for a period of three years, as per the existing rule.Earlier, Guardian Micro Life Insurance had issued 22.5 lakh shares, equivalent to 30% of its issued capital, to the general public through an IPO. The company’s share registrar is Himalayan Investment Banker Limited.
This article was originally published on bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
