Vijay Shekhar Sharma breaks down while speaking at Paytm listing ceremony at BSE

Paytm founder Vijay Shekhar Sharma was visibly emotional when he was speaking at the Bombay Stock Exchange as his company made its debut on the stock market. Sharma was overwhelmed as the National Anthem was played at Paytm’s listing ceremony held at the BSE. While addressing everyone, Sharma said that he got emotional due to the National Anthem. He said during the event, “It just happened to me because you sang the National Anthem."

He further said that the lyrics of the Anthem, specifically “Bharat Bhagya Vidhata,” always make him emotional. He said, “It just overwhelms me. Just saying these words get tears in my eyes.” He added, “People tell me how do I raise money at such high prices, and I just tell them that I never raise money on the price, raise money on purpose." While speaking at the event, Sharma repeatedly wiped his tears with a handkerchief. Sharma was also accompanied by his son as the officials rang the Opening Bell at 10 am sharp, which meant that Paytm was officially listed. Vijay Shekhar Sharma belongs to UP’s Aligarh areas and is the son of a schoolteacher. He founded Paytm in 2010 and by 2017, he was the youngest dollar billionaire in the country at the age of 38. Currently, he has a net worth of $2.4 billion and owns a 14 per cent stake, as per Forbes.

Paytm’s performance at the exchange

Paytm’s parent company One 97 Communications had a woeful first day on the listing at the stock exchange as its shares fell by 9 per cent. The stocks debuted at Rs 1,950 per share on the National Stock Exchange (NSE) and Rs 1,955 on the BSE. Its issue price Rs 2,150. Earlier in November, Paytm opened its initial public offering (IPO) and was easily the largest public issue in India’s history of stock markets. The IPO of Rs 18,300-crore belonging to Paytm’s parent company One97 Communications had a lukewarm response from investors across the country. It was subscribed 1.89 times when it was listed for subscription between November 8 and November 10 as many experts suggested that the potential of the IPO was a lot higher.