All eyes on Buffett, Son India stakes as Rs 1.15-trillion lock-ups end

While high-profile tech IPOs have met with strong demand from the growing herd of retail investors, market pros have been more neutral on the stocks

India’s fledgling technology sector faces a key test this month as lock-up periods on Rs 1.15 trillion worth of shares sold in initial public offerings (IPOs) 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. These include One 97 Communications — operator of payments service Paytm — and FSN E-Commerce Ventures, owner of beauty e-retailer Nykaa.
 

While high-profile tech IPOs have met with strong demand from the growing herd of retail investors, market pros have been more neutral on the