Vijay Shekhar Sharma is the founder of Paytm, one of India’s most successful digital payment companies. He was born and raised in Aligarh, Uttar Pradesh and started his career in the mobile content industry. In 2010, he founded Paytm and it quickly grew after Uber listed it as a quick payment option in India. According to Forbes’ list of India’s 100 Richest People, Vijay Shekhar Sharma is the second-youngest billionaire in the country, with a net worth of $2.35 billion (2020). However, as per reports dated March 15, 2022, Sharma has lost his billionaire status, with a net worth estimated at $999 million.
Vijay Shekhar Sharma was able to make Paytm a success without asking for any funds, instead raising $2 million all by himself. He has also founded other products such as mPandit, oc2ps, Oorja, etc. under the parent company One97 Communications.
Paytm was officially launched in India in August 2010 and has since become one of the most popular digital payment companies in the country.
It is currently available in 11 Indian languages and provides various offerings like mobile recharges, bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code.
They provide financial services where you can buy or sell Mutual Funds, Bonds, Shares, F&O etc. Also provides a banking facility with the name Paytm Payments Bank.
The parent organization of Paytm is One97 Communications and their tagline is “Paytm Karo”.
The Paytm company was founded by Vijay Shekhar Sharma in 2010 and is based in Noida, Uttar Pradesh. This was initially designed to cater to merchants and customers to help them send and receive money online. The company rapidly grew popular and expanded to include wallet services, banking facilities, e-commerce facilities, and more to make life easier for Indians.
Paytm IPO Details
Paytm was the biggest IPO (Initial Public Offer) offered in the Indian Share Market. Paytm was listed in the Share Market on 18th November 2021. Its offer surpassed the biggest public offer by Coal India of Rs 15,200 Crores in 2010.
Despite making a debut in the Market, Paytm managed to cross the milestone of Rs 1 lakh crore market capitalization. The digital payments firm reached a market cap of Rs 1.19 lakh crore on BSE.
The share is listed at Rs 1,955 on BSE, a discount of 9.06% to the issue price. Later, the market cap of the firm fell to Rs 1.10 lakh crore, as the share further dipped 20.47% to Rs 1,704 on BSE.
On NSE, the share of Vijay Shekhar Sharma-led company opened at Rs 1,950, a 9.30% discount to the IPO issue price. The share further fell 20.93% to Rs 1,700 on NSE.