Shikhar Power Development Limited (SIPD) has announced that the lock-in period for 1,11,000 ordinary shares allocated to mutual funds will expire on Ashwin 2, 2083.

The shares were subject to a mandatory six-month lock-in period following their allocation to mutual funds.

Shikhar Power Development has an issued capital of Rs 98 crore. Out of the total 22,20,000 shares, 2,81,250 shares, equivalent to 5% of the total shares, were reserved for mutual funds under the applicable allocation provisions.

The company has now informed investors that the lock-in period applicable to 1,11,000 shares will end on Ashwin 2. Once the lock-in expires, the shares will become eligible for trading in the secondary market from the specified date, subject to applicable rules and procedures.

The expiry of a lock-in period can increase the number of shares available for trading, making the development relevant to investors monitoring SIPD's share supply and potential market activity.

The company issued the notice to inform shareholders, investors and other concerned stakeholders about the upcoming release of the locked-in shares.