Amid heavy sell-off, FPIs dump 30 mn Paytm shares in less than a year

Foreign portfolio investors (FPIs) have dumped 29.7 million shares of Paytm amounting to 44 per cent of their holding in the company in less than a year after its initial public offering (IPO), Economic Times reported.

Paytm had 127 FPIs owning 67.1 million shares of the company on November 17 last year (a day before the stock was listed), representing 10.37 per cent of the shareholders. However, the recent September shareholding pattern shows that the FPIs have sold 44 per cent of their holding, and now own 37.4 million shares. And the number of FPIs has also fallen down to 88, shows data.