Paytm CEO's Fixation On Delivering A Record IPO Led To A First-Day Flop
News

Paytm CEO's Fixation On Delivering A Record IPO Led To A First-Day Flop

Newsdesk |
November 19, 2021

Vijay Shekhar Sharma wiped away tears of joy as he recounted his rise from a "commoner" to the leader of a digital payments giant that just completed India's biggest-ever initial public offering.


New Delhi, 19 November 2021

As per news report of NDTV, "The dreams of a young country are with me," said the founder and chief executive officer of One 97 Communications Ltd., operator of the Paytm service, before striking the opening gong at the Bombay Stock Exchange at 10 a.m. local time on Thursday. By 11 a.m., Sharma's long-anticipated coming out party had turned into one of the worst opening days for a blockbuster tech listing since the dot-com bubble. The stock's 27% plunge surprised even some Paytm pessimists, casting doubt on a record-breaking run for Indian equities and leaving Sharma -- and his underwriters -- to face tough questions about what went wrong with the $2.5 billion fundraising.

Source - NDTV

Read More >>


If you like the story and if you wish more such stories, support our effort Make a donation.




Loading...

If you believe investigative journalism is essential to making democracy functional and accountable support us. »