Paytm founder Vijay Shekhar Sharma became emotional during his address at the Bombay Stock Exchange on the firm’s market debut on Thursday morning. The shares of the company plunged as much as 26 per cent in stock market debut today after it completed India’s biggest-ever initial public offering. Paytm’s Rs. 18,300 crore IPO, which was the country’s largest, was subscribed 1.89 times last week. On the BSE, Paytm stock opened for trading at Rs. 1,955. Paytm shares extended losses after opening as the stock fell as much as 28 per cent, from issue price, to hit an intraday low of Rs. 1,560.
In some of the pics, one could see Vijay Shekar Sharma wiping tears with a handkerchief.
Know about Paytm Founder, Vijay Shekar Sharma:
Vijay Shekar Sharma founded Paytm in 2010 as a platform for mobile recharges. It developed very quickly after the ride-hailing company Uber listed it as a quick payment option in India.
He is the son of a school teacher and he is an engineering graduate.
The use of Paytm increased in November 2016 when the Indian government decided to ban high-value currency notes.
Forbes listed him as one of the billionaire with a a net worth of $2.4 billion. Its IPO has also minted hundreds of new millionaires in the country.
See how Twitter is reacting to Paytm’s Shares Crash….
https://twitter.com/Oye_Jahazi/status/1461208232819523584?s=20
#paytmlisting#PayTmIPO
Right Now :- pic.twitter.com/p2ZOd1ClgD— Mahipalsinh Vaghela (@Mahipal____) November 18, 2021
#paytmlisting
People who bought Paytm IPO to it's price : pic.twitter.com/rKRu9RHFs2— UmderTamker (@jhampakjhum) November 18, 2021
Founders of other companies who have IPOs planned to Vijay Shekhar Sharma #paytmlisting pic.twitter.com/ACpkiRL59r
— Nidhi Shankar (@BoldMonk_) November 18, 2021
https://twitter.com/Rajneesh_16/status/1461207206150303746?s=20
Vijay Shekar Sharma once said, “For a long time my parents had no idea what their son was doing. Once my mother read about my net worth in a Hindi newspaper and asked me, ‘Vijay do you really have the kind of money they say you have?'”
He also said that, “Families of prospective brides would never call us back after finding out that I earn around 10,000 rupees a month. I had become an ineligible bachelor for my family.”