Why was the listing so important?
It comes upon a generation to change the fate of the country and I never believe that I will see an opportunity to make such a big impact in my life. That India will go from being digital-negative to a digital-native country where mobile payments and Paytm have become mainstream. And then today we have been able to bring the company to the stock exchange. I just didn’t see it as fundraising. In fundraising, we get capital to expand the business and there are people who buy into the business model. In the listing, we welcomed one million new shareholders to the Paytm family and this is significant.
But investors will be disappointed with the day’s performance of the listing. What will you say?
No investor invests for a day. If they only invest for one day, they are not investors. A day is not a game and it is not a defeat either. There are a lot of interpretations and a lot of executions that we will bring in to get people to understand the business. I cannot comment on the outcome of the tournament in the long haul game on a first day basis. Let’s see how we execute the new business plan to capture opportunities.
In the case of customers, you have a base. When will the network effect start?
Among our key revenue lines, items like credit, money and insurance, are showing some incredible pace of revenue growth. Some of them are still in the investment stage. In the next quarter and the quarter after that, we have an incredible amount of traction. Once we start showing key performance indicators people will understand that it is not only cost effective but highly scalable.
Are you happy with the advice you have received from bankers?
I can tell you that India has the best world ecosystem for IPOs, I am betting on becoming the second largest tech IPO market after India. Nasdaq,
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