Paytm Chief On Listing Day: Feels Like Carrying Hopes of Young India to Stock Market

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posted on 3 years ago — updated on 1 second ago

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Paytm’s Rs 18,300 crore initial public offering (IPO), which is also India's largest, was oversubscribed last week but the demand was tepid

Ahead of the much-awaited stock market debut of Paytm on Thursday, its founder and chief executive officer, Vijay Shekhar Sharma said that he is able to resonate with the Indian cricket team on how it feels to carry “the hopes and aspirations of young India”. Just like the whole nation has expectations from the national team to win, Sharma feels that this time all eyes are on him to chart success. He mentioned that from coal to fintech, in the last 11 years — India has transformed.

“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,” he tweeted.

Check out the post here:

https://twitter.com/vijayshekhar/status/1461147669900922888

Paytm’s $2.5 billion (Rs 18,257 crores approximately) initial public offering (IPO), which is also India’s largest, was oversubscribed last week. Paytm priced its 85.1 million-share issue at Rs 2,150 each. The company had flagged a price range from Rs2,080 to 2,150 per share for the deal. At the upper price limit of the shares, the interested investors will have to pay a minimum of Rs 12,900 to purchase a single lot.

According to Forbes, Sharma’s present net worth is $2.4 billion and its IPO has minted hundreds of new millionaires.

Earlier this month, days before the historic launch of Paytm’s IPO, Sharma visited Tirupati temple and offered prayers. The IPO of Paytm, which was previously known as One97 Communications, is the biggest initial public offering in the history of the Indian stock market.

https://twitter.com/vijayshekhar/status/1457625259952119809

He shared a photo with Tirumala Tirupati Devasthanams’s executive officer Jawahar Reddy on November 8. The chief executive officer wrote that he had come to seek the blessings of God for the Paytm family.

Considering the performance of IPOs introduced this year, Paytm is looking for a positive response from investors. 2021 became a record year for share listing, as companies like Zomato managed to raise $1.3 billion (Rs 9,600crore approx) through their share issue in July.

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