The success story of Paytm founder Vijay Shekhar Sharma know about Paytm IPO details
New Delhi. These days, Vijay Shekhar Sharma’s company Paytm is in the headlines in the market. The reason is that the company is going to bring the country’s biggest IPO. It is reported that Paytm’s IPO will be launched this month. The company can raise Rs 17-18 thousand crores from this IPO. So far, the country’s largest IPO has been in the name of Coal India. In the year 2010, Coal India had raised Rs 15,200 crore. Let us tell you that many important changes are being made before Paytm’s IPO. The company has removed Chinese officials from the board. Last week, the company allotted 5.1 lakh shares to 80 employees. The valuation of the company is believed to be around Rs 1.85 lakh crore. Paytm can raise less money in the first phase and can raise the rest of the money later. Let us tell you that Paytm is the largest digital transaction platform in the country.
Paytm founder Vijay Share Sharma is from UP.
Vijay Shekhar Sharma, CEO and founder of payment company Paytm, is doing business of crores and billions today. Vijay Shekhar Sharma was born in a middle-class family in Aligarh, Uttar Pradesh. His mother was a housewife and his father was a school teacher. Vijay Shekhar Sharma studied in Hindi medium till 12th. Later he went to Delhi for graduation where he studied Electronics and Communication from the College of Engineering.
hardworking from the beginning
English was very weak due to Vijay Shekhar Sharma studying in the Hindi medium, due to which he had to face a lot of problems during his college days. In the meantime, he had to face many problems, despite that he was determined that now he will continue to learn English. On the strength of his will, he soon got hold of the English. During his college studies in the year 1997, he established the website Indiasite.net and sold it for several lakhs within two years. His entrepreneurship journey started from here. After this, he founded one97 Communications in the year 2000, which provided mobile content like news, cricket scores, ringtones, jokes, and exam results. It is the parent company of Paytm. This company was started from a small rented room in South Delhi.
The idea got from the Delhi market
Vijay Shekhar Sharma told in an interview to The Indian Express that ‘When I lived in Delhi, I used to roam the Sunday markets of Delhi and used to buy old copies of magazines like Fortune and Forbes from there. From the magazine itself, I came to know about the company starting from a garage in Silicon Valley of America. After this, he went to study at Stanford University in America. There he came to know that there was no support for startups in India. After coming back he started with his savings. Sharma says I had to take help from my friends and family members for cash. That money too ran out in a few days. Finally got a loan of Rs.8 lakh at 24% interest. Vijay Shekhar says, one day I met a gentleman and he told me that if you turn my loss-making technology company into profit, then I can invest money in your company. He says, I turned his business into profit and he bought the equity of my company. So I paid off my loan and the car was back on track.
This is how Paytm started
Vijay started a new company named Paytm in 2001. At that time, the facility of prepaid recharge and DTH recharge was given on Paytm. Then Vijay thought of increasing his company and started focusing on other things and then started the facility of paying electricity bills and gas bills. Paytm gradually started the online transaction facilities like other companies. The company made a big profit after demonetization in 2016. After this, Paytm got a lot of strength from the government’s Digital India.