Paytm’s IPO was listed on the stock exchange on November 18, opening at the Bombay Stock Exchange at Rs 1,955. The company’s founder and CEO, Vijay Shekhar Sharma, led Paytm’s $2.5 billion IPO last week. Hours before the listing on Thursday, Sharma got emotional and said that it felt like he was “taking the hopes and aspirations of young India to the stock market. While Sharma’s achievements highlight his successes, his Little is known about the humble background.In a recent interview, Sharma revealed that he still prefers to drink tea from roadside stalls and go for morning walks to buy milk. He also mentioned how his mother did not believe in his net worth and asked her to verify the information about it.
Recalling the time when China’s Ant Group first invested in Paytm in 2015, Sharma told Reuters, “For a long time my parents didn’t know 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?'”
Sharma, the son of a school teacher from a small town, completed his schooling in a Hindi medium school in Harduaganj, his hometown of Aligarh. In an interview with Bloomberg News, Sharma revealed that he taught himself English by memorizing rock songs as well as reading textbooks translated into English and Hindi.
According to Forbes, Sharma’s current net worth is $2.4 billion and its IPO has created hundreds of new millionaires. Earlier this month, days before the historic launch of Paytm’s IPO, Sharma visited Tirupati temple and offered prayers. Paytm’s IPO, formerly known as One97 Communications, is the largest initial public offering in the history of the Indian stock market.
Paytm’s $2.5 billion (about Rs 18,257 crore) initial public offering (IPO), which is also India’s biggest, was oversubscribed last week. Paytm priced its 85.1 million share issue at Rs 2,150. The company had fixed a price of Rs 2,080 to Rs 2,150 per share for the deal. On the upper price limit of the shares, interested investors will have to pay a minimum of Rs 12,900 to buy a lot.
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