Paytm Founder Vijay Shekhar Sharma Laments His Choice Of Investment Bankers For IPO

Paytm founder and CEO Vijay Shekhar Sharma has said he regrets his choice of bankers for the fintech giant’s initial public offering (IPO) 👇

“I have been an entrepreneur long enough now. I have a regret of not choosing the correct bankers for the IPO,” Sharma said during Tie Delhi NCR’s India Internet Day 2024, according to a report by Moneycontrol.

Further, Sharma also compared Paytm’s listing with Infosys. “In NR Narayana Murthy’s time, his driver made INR 1 Cr, but when Paytm listed, at least 20 people made INR 100 Cr,” CNBC quoted him as saying.

Paytm went public in November 2021. ICICI Securities, JP Morgan, Goldman Sachs, Morgan Stanley, HDFC Bank, and Citi were its investment bankers. Its total issue size was INR 18,300 Cr. The public issue comprised a fresh issue of up to 3.86 Cr equity shares, aggregating up to INR 8,300 Cr, and an offer for sale of up to 4.65 Cr equity shares, aggregating up to INR 10,000 Cr by the selling shareholders.

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Credit - Inc42 Media