Paytm Vijay Shekhar Sharma: “I am determined to build a $100 billion Indian enterprise. Going public is akin to marriage; it brings a whole new level of accountability and responsibility, which is essential,” stated Vijay Shekhar Sharma.
“We should have been more aware and executed our responsibilities better,” remarked Vijay Shekhar Sharma.
As the founder and CEO of Paytm, Sharma is aiming to boost the company’s valuation to $100 billion, a significant challenge given its current market cap of approximately $3.5 billion following regulatory issues. Earlier this year, the Reserve Bank of India imposed significant restrictions on Paytm Payments Bank Limited due to non-compliance, severely impacting its core operations.
Sharma reflected on the recent challenges, calling them a test of the company’s maturity and responsibility. “We should have understood better and fulfilled our responsibilities more effectively,” he admitted, adding that they are now better equipped to face future challenges.
Expressing his ambition, Sharma stated, “I aim to make Paytm a $100 billion Indian company.” He shared this vision during an event in Gurugram on July 6.
As Paytm focuses on restructuring, including shedding non-core assets and enhancing its distribution model, founder Vijay Shekhar Sharma highlighted the significant potential in cross-selling, especially credit for small businesses. “The reward of the mobile payment revolution is credit,” Sharma stated, envisioning loans from 1,000 rupees to millions to promote economic inclusivity.
Comparing going public to marriage, Sharma noted it brings greater responsibility and expressed confidence in stock stabilization. He acknowledged the vital role of Indian bankers in shaping Paytm’s public listing, emphasizing their invaluable guidance.
Paytm is navigating difficult times after the Reserve Bank of India (RBI) imposed strict regulatory measures on its associate, Paytm Payments Bank Limited (PPBL). On January 31, the RBI ordered PPBL to halt new deposits and the use of its digital wallets starting in March, due to supervisory concerns and non-compliance. These restrictions have significantly disrupted Paytm’s operations, affecting its market standing and investor confidence.
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