India’s Paytm slides over 10% to all-time low after lock-up period expires

Shares of Paytm slid over 10% Tuesday to an all-time low of 476 Indian rupees ($5.8) before recovering slightly after the lock-up period for early backers of the Indian financial services firm ended last week.
The lock-up period for the company’s earlier backers expired on November 15, freeing significant investors such as SoftBank Group and Alibaba to sell their shares. SoftBank sold shares worth over $200 million last week. (Indian law requires pre-IPO investors to hold the shares post-listing for up to one year from the IPO.)
At 476 Indian rupees, Paytm’s shares are down over 77% from the I

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