Foreign Portfolio Investors Societe Generale, Tiger Pacific Master Fund, and UBS Principal Capital Asia have reduced their stakes in One 97 Communications, the parent company of Paytm, to below 1% as of the September quarter. Paytm shares fell to Rs 700, down 3% intraday, despite an 80% rally over the past six months, contrasting with a 12% gain in the S&P BSE Sensex. However, the stock is down 25% year-on-year, following a widened net loss of Rs 838.9 crore in the June quarter and a 36% decline in revenue.
