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Market Intelligence › Basic Terminologies
Anchor book, lock-in period and its effect on par after listing
Published by The Retail Trader · AUG 07, 2026 · Market Basics
A day before the IPO opens, a separate book is filled which is called anchor book. Retail investors cannot participate in us, but its impact directly falls on retail.
This is a mechanism to first allot a portion of the issue to large institutions, at a fixed price par. Its objective is to give credibility and demand base to the issue.
The list of Anchor allotment is public. Which funds are on our list is for informational purposes only – but is never a guarantee that a stock will last.
Anchor shares cannot be sold immediately, and this is what matters later:
• A part of the anchor holding becomes free after a few weeks of listing, the rest after that.
• On the day of opening of lock-in, supply may increase suddenly.
• Therefore, a different hi pressure is seen in some stocks after one or two months of listing.
• This calendar is public, so it can be seen in advance.
Reading anchor list is not a shortcut to research. Big names are there in every issue, and their mandate, holding period and exit plan are completely different from each other.
This article is for educational purposes only. It is not a buy or sell recommendation, a claim of guaranteed returns, or advisory guidance. Exchanges, SEBI and RBI change rules, rates and procedures from time to time, so verify every figure with your broker or an official source.