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oi-Akarsh Shukla

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Published: Thursday, November 18, 2021, 13:50 [IST]

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Mumbai, 18 November Investors in digital payments company Paytm and its shares suffered a major setback on Thursday after the stock market opened. Paytm, which has been in the news for its MahaIPO, has suffered a major setback after being listed on the stock exchange. Let me tell you that the listing of shares under the IPO of One97 Communications Ltd, the parent company of Paytm, was very weak. Shares on Thursday were listed at around Rs 1,645, while the company had allotted them at Rs 2,150 per share.

Paytm founder Vijay Shekhar Sharma got emotional during the IPO listing

Paytm founder and CEO Vijay Shekhar Sharma got emotional at the listing ceremony today. However, 43-year-old Shekhar did not get emotional after Paytm’s shares fell, but got emotional after listening to the national anthem during his address on the BSE podium. He hoped that about Rs 18,300 crore would be raised from the listing of the company. Let me tell you that Paytm launched the largest IPO ever in the country, before that the IPOs of Coal India and Reliance Power were the largest. While Paytm shares fell 24 per cent on the first day, investors also suffered huge losses.

Also read: Paytm IPO: As soon as Paytm IPO arrives, investors need to know 10 big things before investing

Let me tell you that Paytm was founded in 2010 by Vijay Shekhar Sharma, a resident of Aligarh district in Uttar Pradesh, who was the son of a school teacher. He said in an interview that till the age of 27 he was earning only Rs 10,000 a month and no one gave his daughter for marriage. Now Vijay Shekhar Sharma is counted among the world’s billionaires. Today, Vijay Shekhar Sharma is on Forbes’ list of billionaires. Financial technology company Paytm has now become one of the most popular companies in India and an inspiration for new entrepreneurs. However, the shock from the stock market on Thursday made Vijay Shekhar Sharma emotional.

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Paytm founder Vijay Shekhar Sharma got emotional during the IPO listing

First Story Published: Thursday, November 18, 2021, 13:50 [IST]

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