digital payment company Paytm continues its IPO (Initial Public Offering) remains in the discussion. And finally on November 18, the company’s shares are getting listed on the stock exchange. Today, the company’s shares are being listed on the Bombay Stock Exchange and the National Stock Exchange. Earlier, the company’s founder and chief executive officer Vijay Shekhar Sharma, in a tweet, told on the occasion how he was feeling. In the tweet, Sharma wrote that he now understands how our cricket feels. He also said that he feels that he is “entering the stock market with the hopes and aspirations of young India”.
Vijay Shekhar wrote in his tweet that ‘Man, now I understand our cricket team! So many messages and best wishes. It seems that we are entering the stock market with the hopes and aspirations of young India. From coal company to fintech in 11 years – India has changed. To every Paytmer – you have changed India for the better.
Man, I can feel for our cricket team!
So many messages, wishes, & kind words. Feels like carrying the hopes and aspirations of young India to the Stock Market.
From coal to a fintech, in 11 years — India has transformed.
To every Paytmer, you’ve changed India for good
— Vijay Shekhar Sharma (@vijayshekhar) November 18, 2021
Let us tell you that Paytm had brought the country’s biggest IPO of $ 2.5 billion last week. This IPO of 18,300 crores was bigger than the biggest IPO ever – Coal India’s IPO of 15,000 crores. It was subscribed up to 1.89 times.
How was Paytm started?
Paytm was started by Vijay Shekhar Sharma in 2010 as a mobile recharge platform. After a few years, cab aggregator company Uber added it as a payment option on its platform, after which its discussion increased. However, it got its biggest breakthrough when the Government of India announced demonetisation in November 2016. Big notes were discontinued and cash withdrawals were temporarily banned. At that time, the government started promoting digital payments rapidly and Paytm benefited the most.
Vijay Shekhar Sharma’s father was a school teacher and today Shekhar has become a billionaire. According to Forbes, Shekhar Sharma’s net worth is $2.4 billion. Even his company has backing from top companies like Chinese business tycoon Jack Ma’s company, Japan’s SoftBank and Warren Buffett’s Berkshire Hathaway. These companies hold stake in Paytm.