 "From Paytm to Zomato, start-ups see fresh round of selling; stock falls")
Shares of Paytm, Nykaa, and Zomato crashed 5 per cent each on Tuesday even as the BSE benchmark Sensex gained close to a per cent.
Market players said the selling could be because of fears around further sell-downs by existing investors. After the end of the one-year lock-in period post-IPO, several large funds have pared their holdings in new-age tech startups, weighing on their stock price performance.
Last week, Alibaba sold nearly a 3 per cent stake in Paytm. Shares of Paytm, Nykaa, and Zomato are down more than 60 per cent each from their highs.
Market players said the selling could be because of fears around further sell-downs by existing investors. After the end of the one-year lock-in period post-IPO, several large funds have pared their holdings in new-age tech startups, weighing on their stock price performance.
Last week, Alibaba sold nearly a 3 per cent stake in Paytm. Shares of Paytm, Nykaa, and Zomato are down more than 60 per cent each from their highs.
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