XTRAS: Till now, Paytm has raised a total Rs 2.2 Billion in the funding of over 4 rounds. It has acquired many companies like NightStay, Cube26, TicketNew, Nearbuy, and Little to name a few.
Paytm India`s Largest IPO
Paytm was India's largest IPO. Since demonetization, Paytm has become one of the country's most recognizable brands. Following that, the payments platform grew rapidly. As a result, the performance of its IPO, the largest ever in India, drew everyone's attention to the stock market.
The IPO, however, made headlines for the spectacular drop in share price during trading on the Bombay Stock Exchange (BSE) on October 18. The initial offer price was Rs 2150, but by the end of the day, the shares were trading at 1614 rupees each. The stock even broke through the lower circuit limit of 1564 rupees. When a share reaches this level, the BSE limits investor purchases to that level or higher.
Paytm's response to the IPO fiasco: Vijay Shekhar Sharma, the founder and CEO of Paytm, who was visibly crying with joy at the start of trading, kept a brave face later in the day. “Our future isn`t determined by one day, “He stated. “It’s a brand-new business model and takes heaps for somebody to easily realize it, there is a ton for us to bring to markets and markets participants.
Paytm expects to break even by late next year or early 2023, according to a source familiar with the matter, despite the fact that the company stated in its prospectus that it expects to lose money
