Drashti Chheda Starting July 18, 2025, NSDL has introduced a new rule that has caught the attention of pre-IPO investors. From this date onward, pre-IPO shares will be locked, and off-market transactions won’t be allowed for six months after the company gets listed. The only exception is shares allotted directly through the IPO itself.
In simple terms, if you’ve bought shares of a company before its IPO, you’ll now need to hold on to them for at least six months after it hits the stock market. No private transfers, no off-market deals, no quick exits. Just you and your patience.
At first glance, it might seem like a speed bump. But look closer, and you’ll see the intention: bringing stability and maturity to a space that’s been heating up fast. Pre-IPO markets have become a playground for retail and HNI investors alike, and this rule helps prevent speculative trading right after listing day.
Think of it like a cooling period. You’ve made your move early, now you’re giving the company time to grow publicly while your investment rests in your demat account. For serious investors, this may actually be a welcome change. It encourages thoughtful, longer-term decisions instead of short-term plays.
This move also supports SEBI’s ongoing efforts to make pre-IPO investments safer and more transparent. With more platforms and apps offering access to unlisted shares, the guardrails are timely. They’re not stopping the party, just making sure there’s a guest list and some house rules.
Investors now need to factor in the six-month lock-in while evaluating any pre-IPO opportunity. Liquidity is important, but so is perspective. Some of the best gains in equity come from holding tight, not rushing out.
So if you’re planning to buy into a pre-IPO deal, consider this your official reminder: great investments often take time to shine. The lock-in may test your patience, but if the company delivers, the wait could be well worth it.
