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Paytm’s Vijay Shekhar Sharma visits Tirupati temple on IPO day – Moneycontrol.com

The Paytm IPO comprises fresh issuance of equity shares worth Rs. 8,300 crore and Rs. 10,000 crore from an offer for sale (OFS) by existing shareholders.

Vijay Shekhar Sharma (left) founded Paytm in 2010. (Image credit: Photo tweeted by @vijayshekhar)

Paytm founder Vijay Shekhar Sharma today visited the Tirumala temple in Tirupati as his digital payment company opened its initial public offering (IPO), in what is the largest-ever public issue in the history of Indian capital markets.

“Just met Sh. Jawahar Reddy Executive Officer, Tirumala Tirupati Devasthanams (#TTD) in Tirupati as I have come here to seek blessing of God for all of @Paytm family,” Sharma tweeted, along with a photo of him with the temple body chief.

The internet was abuzz with messages and posts about the Paytm IPO, with many fellow brands wishing Paytm good luck.

Sharma, the son of a schoolteacher, founded Paytm in 2010. He says he learned English by listening to rock music. He was ranked India’s youngest dollar billionaire four years ago at the age of 38 and now has a net worth of $2.4 billion, according to Forbes. He owns a nearly 14-percent stake.

The IPO from One97 Communications, which operates under the Paytm brand name, comprises fresh issuance of equity shares worth Rs 8,300 crore and Rs 10,000 crore from an offer for sale (OFS) by existing shareholders.

So far, in 2021, as many as 46 companies have floated their IPOs to raise Rs 80,102 crore and market experts believe that the year should close with the Rs 1-lakh crore primary market fundraising.

Food delivery giant Zomato was the country’s biggest IPO of the year until now with its $1.3 billion share issue in July. E-commerce beauty giant Nykaa opened its IPO to subscribers last month.

Shylaja Varma