Paytm CEO tears up after national anthem, says 'Bharat Bhagya Vidhata' overwhelms me

During Paytm's listing ceremony at Bombay Stock Exchange (BSE), the company's Founder and CEO Vijay Shekhar Sharma broke out into tears after hearing India's national anthem.

 

The line 'Bharat Bhagya Vidhata'...just overwhelms me...it means...'the one who will define the fortune of this country'," Sharma explained. "I can't say it with enough words...that everyone at Paytm has actually done that," he added.

During the listing ceremony the company got listed today on both the exchanges. Paytm IPO, which is India's biggest ever, has seen a tepid listing, with the shares listing at discount of 9% at ₹1,950 on NSE against its IPO issue price of ₹2,150 per equity share.

The three-day IPO of Paytm's parent One97 Communications was launched on November 1 that concluded on November 3 with a price band of ₹2,080-2,150 per share.

Vijay Shekhar Sharma, an engineering graduate, founded Paytm back in 2010 as a mobile recharge company. It grew quickly after ride-hailing firm Uber listed it as a quick payment option in India.Paytm's use swelled further in late 2016 when demonetisation boosted digital payments. As per Forbes, Paytm's success turned Sharma into a billionaire with a net worth of $2.4 billion.