India IPO Market Gets Reality Check as $4 Billion Lockups Expire

India’s newest stocks joined a broader market selloff in the country as sale restrictions on about $4 billion of such shares expired on Monday.

That’s adding pressure to a stock market already down $1 trillion in value since mid-December. Lockups in FirstCry operator BrainBees Solutions Ltd., Ceigall India Ltd., Ola Electric Mobility Ltd.and Unicommerce eSolutions Ltd. were among those that ended on Monday, according to data compiled by Nuvama Alternative & Quantitative Research.

On Monday, shares of most of the companies cited by Nuvama Alternative fell, led by a 20% drop in train signaling firm Quadrant Future ...