What it is
Institutions in IPO book-building can commit not to sell allocated shares for 15 days to six months. Separately, listing rules lock up shares held by largest shareholders for a period after listing.
Why it matters
A high commitment ratio means less stock can be sold right after listing. When lock-ups expire, selling pressure can increase.
What to keep in mind
Commitment periods appear in the finalized registration statement or prospectus; the tradable-share schedule shows when locked shares are released.
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This explanation is general information, not investment advice. Rules reflect September 2026 and may change; check official exchange and broker notices.