PPL People's Power Limited’s 39,07,948 Shares Lock-in Period Ending Soon

PPL The lock-in period for 39,07,948 shares of People's Power Limited will end on August 12. The company issued a notice today informing that the lock-in period for shares held by founders, employees, and locals will conclude on this date.

The company had opened an IPO for the general public from July 31 to August 5, 2022, with the allotment taking place on August 12, 2022. As per legal provisions, the shares allotted to founders, employees, and locals must remain locked for three years from the allotment date.

According to the company, of the shares whose lock-in period is ending, 32,26,000 shares belong to founders, 49,348 shares are held by employees, and 6,32,600 shares belong to locals.

However, the company clarified that founders who are part of the board of directors and employees in senior management positions will not be allowed to buy or sell shares as per the prevailing legal provisions.