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India Paytm IPO with $10 Billion Market Value, Founder Becomes Billionaire with $2.4 Billion
20th November 2021 | Singapore
Paytm, the India financial technology company which runs India popular payment app and similar to China Ant Group, has IPO on Bombay Stock Exchange with a market capitalisation of $20 billion on Thursday (18/11/21). Listed as One97 Communications, the shares fell more 27% and had hit the the lower circuit breaker of 20%. Vijay Shekhar Sharma, who founded Paytm in 2010, became a billionaire with estimated fortune of $2.4 billion. The IPO raised $2.5 billion and existing investors include Softbank Vision Fund, Berkshire Hathaway, Ant Group and Alibaba Group. (IPO ~ Initial Public Offering)
“ India Paytm IPO with $10 Billion Market Value, Founder Becomes Billionaire with $2.4 Billion “
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Paytm, Founded in 2010
Founded in 2010 by Vijay Shekhar Sharma, Paytm quickly grew to become a popular payment app in India. Today, more than 20 million merchants & businesses are powered by Paytm to accept payments digitally. More than 300 million Indians use Paytm to Pay at their stores, and Paytm App is used to pay bills, do recharges, send money to friends & family, book movies & travel tickets.
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