Paytm Chief, Ahead Of Trading Debut, "Feels For Cricket Team". Read Why
New Delhi: Hours before the much-awaited stock market debut of Paytm on Thursday, its Founder and Chief Executive Officer Vijay Shekhar Sharma said that it "feels like carrying the hopes and aspirations of young India to the Stock Market."
Mr Sharma took to Twitter and wrote: "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."
Man, I can feel for our cricket team!
November 18, 2021
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 ????Paytm's $2.5 billion initial public offering (IPO), India's largest, was oversubscribed last week.
The company has priced its 85.1 million-share issue at the top of the range at Rs 2,150 each. It had flagged a price range of Rs 2,080-2,150 per share for the deal.
Mr Sharma founded Paytm in 2010 as a platform for mobile recharges. The company grew quickly after ride-hailing firm Uber listed it as a quick payment option in India and its use swelled further in late 2016 when the Centre's shock ban on high-value currency notes boosted digital payments.
Paytm's success has turned Sharma, a school teacher's son, into a billionaire with a net worth of $2.4 billion according to Forbes. Its IPO has also minted hundreds of new millionaires.
Paytm is backed by Chinese tycoon Jack Ma's Ant Group, Japan's SoftBank, and Warren Buffett's Berkshire Hathaway, which together own around a third of the company.
Earlier this month, Mr Sharma had visited Tirupati temple in Andhra Pradesh to seek blessings ahead of the company's IPO.
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