"No Investor Comes For A Day": Vijay Shekhar Mishra On Paytm's Weak Debut
NDTV
Paytm made an underwhelming debut this morning, with the stock opening on the NSE at Rs 1,950 (Rs 1,955 on the BSE) - against an issue price of Rs 2,150
Paytm founder and CEO Vijay Shekhar Sharma struck a defiant note Thursday evening after shares crashed as much as 26 per cent on the digital payments firm's market debut, leading to concerns among investors and analysts questioning its expansive valuation - around $20 billion.
Mr Sharma told NDTV "no investor comes for a day" and argued that it was incorrect to suggest that investors had lost money after just 24 hours on the market.
"One day's loss does not represent the whole picture. We have to do a good job in explaining the Paytm business model... this is just the first day. We are growing (in terms of) revenue, we are growing (in terms of) margin. We are expanding and we will continue to expand," Mr Sharma told NDTV.
"It is a multiple Test match series, it's not over if one or two wickets are lost," he said.
