Paytm, Nykaa among tech stocks under watch as lock-in period ends

India’s fledgling technology sector faces a key test this month as lock-up periods on $14 billion worth of shares sold in initial public 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 Nykaa.

A relatively new phenomenon in India, high-profile tech IPOs have met with strong demand from the nation’s growing herd of retail investors, and seen by some