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ESDS Software Solution shares hit lower circuit for seventh day

The stock’s one-month lock-in expired, making about 3 million shares eligible for trading, even though the end of the lock-in does not guarantee selling.

Reported · Written up by our desk · Equities

ESDS Software Solution shares hit the 5% lower circuit for a seventh straight session on Tuesday, October 6, extending the company’s recent pullback. The stock was locked at ₹1,292.15 on the BSE.

The latest decline follows the end of a one-month shareholder lock-in period on Monday, which made roughly 3 million shares, or about 2% of total outstanding shares, eligible to trade. However, the lock-in expiry does not mean those shares will necessarily be sold in the open market.

The stock has dropped 18.55% over the past week and 24.15% over the past two weeks, after rising 44.29% in the last month.

ESDS Software Solution listed on September 4, debuting at a premium of more than 76% over its IPO price of ₹429, after which the shares climbed to upper circuit levels on the NSE.

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