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new Delhi. Due to the huge fall in the shares of Paytm, not only the common investor, but Vijay Shekhar Sharma, the founder of Paytm, has also suffered a huge loss. Vijay Shekhar Sharma is incurring a loss of Rs 88 crore every day. This is the reason why he is now out of the list of billionaires in dollars. However, if we measure his wealth in rupees, he is still a billionaire.
According to Forbes, Sharma’s wealth was $2.35 billion before the listing of the IPO, which has now come down to $999 million. Paytm’s parent company One97 Communications was listed on November 18, 2021. Since the listing, Sharma is incurring a daily loss of about Rs 88 crore.
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Forbes told – Sharma is no more a billionaire
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According to the data of March 16 of the international magazine Forbes, Paytm founder Vijay Shekhar Sharma is no longer a billionaire. There is a steady decline in the share of One97 Communications, the parent company of its main Paytm. Significantly, the stock of Paytm has broken up to 70 percent from its issue price. The issue price of Paytm share was Rs 2,150 which has now come down to Rs 620.
Rs 18,300 crore was raised from IPO
Paytm’s parent company One97 Communications raised Rs 18,300 crore through IPO. On November 18, the company was among the top 50 companies in India with a value of Rs 1.39 lakh crore. Now the market cap of the company has come down by about Rs 1 lakh crore to Rs 40,000 crore. It is now at 112th position in the list of highest valued companies.
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Sharma holds 8.9% stake
According to a Paytm company spokesperson, Sharma held around 8.9 per cent stake in One97 Communications in the December quarter. Axis Trustee Services Ltd. Sharma owns about 4.8 percent of the shares held by the company. The total value of this stake is Rs 5,558 crore.
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Tags: Paytm, Paytm’s Vijay Shekhar Sharma
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