Paytm started its journey over 10 years ago mainly as a mobile recharge platform
With the shares of one of the country’s leading digital payment platforms – Paytm – all set to be listed on the exchange on November 18, the company could be on track to become one of the biggest players in the world. possibly the most valuable.
Its initial public offering (IPO), which ends on 10 November 2021, is worth Rs 18,300 crore, the country’s largest to date and just behind Coal’s public offering India. It was registered 1.89 times at the end of the bidding process.
Paytm’s IPO consisted of a new issue of Rs 8,300 crore and an offer of sale (OFS) of existing shareholders valued at Rs 10,000.
The company sold shares in a price range of Rs 2,080 to Rs 2,150 per share and retail investors had the option to bid on a minimum of one lot out of six shares up to a maximum of 15 lots. In the upper price range, a lot of Paytm shares is priced at Rs 12,900.
Investors such as Japan’s SoftBank, China’s Ant Group and Alibaba, and Elevation Capital were among the top players that diluted their shares in the IPO.
While market analysts are speculating on the price at which Paytm’s stock could be listed, the fact is undeniable that Vijay founder Shekhar Sharma’s has come from humble beginnings in Aligarh. in Uttar Pradesh and is now poised to become the owner of one of the country’s most valuable companies.
See how Paytm’s journey began.
Origin
The son of a school teacher, Vijay Shekhar Sharma founded Paytm as a mobile phone charger and DTH in 2010. Its parent company One97 Communications was established in 2000.
It quickly rose to prominence, after the taxi service company Uber considered its services as a fast-cost possibility.
However, the company had difficulty paying in November 2016 when the government announced it was canceling advertising and incentivizing digital payment systems.
This development has seen Paytm’s subscribers grow many times over, as it seems to have become everyone’s preferred platform for digital payments.
Paytm with One97 Communications is the owner of Paytm Payments Bank, which has millions of account holders.
