Paytm founder Vijay Shekhar Sharma gets emotional during the listing of the stock on the Bombay Stock Exchange (BSE). He was seen wiping his tears with a handkerchief after the national anthem was played at the beginning of his speech at the listing ceremony. He said, ‘It happened to me only because you sang the national anthem. Whenever the national anthem is played, the words ‘Bharat Bhagya Vidhata’ bring tears to my eyes.
family on the list
Vijay Shekhar Sharma’s family was also with him during the listing. Vijay Shekhar and his son Vivaan played gong together for Paytm listing. On the other hand, Vijay Shekhar took blessings by touching his mother’s feet on this occasion.
Paytm shares fell 27%
Shares of One 97 Communication, the parent company of digital mobile payment platform Paytm, have fallen drastically. Its stock closed at Rs 1,564, down 27% on the first day as compared to the issue price of Rs 2,150. That is, the investors have suffered a loss of Rs 586 per share against the IPO price. The worst performance of the biggest issue has been in the market.
Play fantasy cricket online and earn real cash
Listing disappointing, but story inspired
An engineering graduate, Sharma founded Paytm as a platform for mobile recharge. The success of Paytm has made Vijay Shekhar Sharma, the son of a school teacher, a billionaire. Paytm’s stock listing may have been disappointing, but the story of its founder Vijay Shekhar Sharma is inspiring.
Degree from Delhi College of Engineering
Vijay Shekhar Sharma is a resident of Aligarh. His father was a school teacher. He studied in Hindi medium till 12th standard. For graduation, he went to Delhi College of Engineering and studied Electronics and Communication. During his college studies in 1997, he founded the website Indiasite.net and sold it for several lakhs within two years. This is where his entrepreneurial journey began.
Launched Paytm in 2011
By 2010, many business ideas had come to Vijay Shekhar Sharma. In 2011, they decided to work on a smartphone-to-payment model. Paytm became an acronym for payment through mobile. Paytm launched a mobile wallet in 2014.
Benefits of being a beginner player for Paytm
Being an early player in the Indian market, Paytm has benefited immensely. Paytm had only 12.5 crore subscribers in the first 6 years. The reason for this was the dependence of the Indian consumer on cash. This was a big challenge for Paytm. Even after connecting Paytm with small shops and merchants, the number of transactions remained very low.
Demonetisation increased paytm traffic
Paytm made most of the headlines on November 8, 2016 at 8 pm, when the Prime Minister declared 500-1000 rupee notes illegal-tender in the country. According to a report, Paytm saw a 435% increase in traffic in a year post-demonetisation, while app downloads grew by 200%. Talking about the total transactions, it has increased to 250%.
Read more: Indians backward in making passwords: suddenly accounts are being hacked with passcodes
,