INSUBCONTINENT EXCLUSIVE:
offerings expire, allowing billionaire backers including Warren Buffett and Masayoshi Son to sell.
Lock-ups end in November for four
consumer-focused tech stocks, which have all slumped in the past month
Included are One 97 Communications Ltd., operator of payments service Paytm, and FSN E-Commerce Ventures Ltd., owner of beauty e-retailer
co-portfolio managers at GW-K Investment Management LLC, said in an email
low-rate early days of reopening after the pandemic
Overall offerings have slowed this year amid slumping tech stock prices, increasing rates and recession fears.Paytm has lost the most among
The stock may face additional pressure after Nov
Softbank has been selling down stakes in investments to fund its ongoing multibillion-dollar share buybacks, he added.
Another Indian tech
has already survived a similar challenge, with early investor Uber Technologies Inc
exiting the online food-delivery firm in August soon after expiry of the lock-up
year, with the benchmark S-P BSE Sensex up more than 4% compared with a loss of more than 20% in the MSCI World Index
well as bonds, which are offering high yields
