Paytm faces another reckoning after $10 billion selloff

Paytm, India’s leading digital payments brand, faces another reckoning, a year after it recorded the grisliest initial public offering in India’s history.

This week, the lock-up period for the company’s stock will expire, freeing investors to sell shares that haven’t yet been allowed onto the market. The biggest shareholders in One97 Communications Ltd., Paytm’s parent company, are Alibaba Group Holding Ltd. and its fintech affiliate Ant Group Co., as well as Japan’s SoftBank Group Corp.

Paytm and founder Vijay Shekhar Sharma pulled off India’s largest-ever IPO last November only to see its shares plummet in one of the worst debuts ever.