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Why Paytm Founder Vijay Shekhar Sharma Cried During Listing?

Highlights:

  • The shares of Paytm were listed at 9% discount against the issue price of Rs 1950 i.e. Rs 2150.
  • Paytm was listed on the Bombay Stock Exchange and at this point its founder Vijay Shekhar Sharma became emotional.
  • According to Forbes, with a 14 percent stake in Paytm, he currently has a net worth of ₹2.4 billion.

Paytm operator One97 Communications was listed on Thursday. However, the listing of Paytm shares was disappointing. Paytm shares listed at Rs 1,950 or 9% discount, as against the issue price of Rs 2,150. At the end of the day, it closed at Rs 1560 on NSE.

Paytm was listed on the Bombay Stock Exchange and this time its founder Vijay Shekhar Sharma got emotional. It was a big moment for him and he could not hold back his tears. He got emotional when the national anthem was played during the listing ceremony of Paytm on BSE.

Talking about why he had tears in his eyes, he began his speech in Hindi and said, “It only happened to me because you played the national anthem.” He said that the line of the national anthem Bharat Bhagya Vidhata had made him emotional. “It came to our notice then. Those words brought tears to my eyes.
People were telling me how I would collect money with such a huge price, and I was just telling them that I have never collected money on purpose but on price. Significantly, Sharma was with his son and at 10 o’clock he rang the opening bell.

Earlier this month Paytm announced its issue. Paytm’s parent company One97 Communications has an IPO of Rs 18,300 crore, the largest in India. However, it received a cold response from investors. Between 8 and 10 November, it became full 1.89 times.

Paytm was founded in 2010 in Aligarh, Uttar Pradesh by Vijay Shekhar Sharma, son of a school teacher. He said that he learned English by listening to rock music. Four years ago at the age of 38, he became India’s youngest dollar billionaire. According to Forbes, he currently has a net worth of ₹2.4 billion. He holds 14% stake in Paytm.

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