Paytm's parent company - One97 Communications is definitely mentioned in the failed initial public offerings (IPOs) of the Indian stock market. The investors who were allotted this IPO had to suffer huge losses. Such investors are suffering losses even today. Now Paytm's founder Vijay Shekhar Sharma has for the first time told about his mistake on the flop show of the IPO.

What did the founder of Paytm say

Vijay Shekhar Sharma openly admitted his mistake and said- We did not choose the right banker for Paytm's IPO! Choosing the right banker is important. He said, "To go to the temple of God, you need the right priest. Maybe we did not choose that." Along with this, Sharma advised other entrepreneurs to choose the right banker.

Comparing it with IT company Infosys, Sharma said that during the time of NR Narayana Murthy, his driver earned ₹ 1 crore but when Paytm was listed, at least 20 people earned ₹ 100 crore. Sharma admitted that better guidance from bankers could have led to even stronger results. Paytm IPO was managed by I-banks including ICICI Bank, JP Morgan, Goldman Sachs, Morgan Stanley, HDFC Bank, Citi and Axis Capital.

IPO came in 2021

Let us tell you that the IPO of Paytm's parent company One97 Communications came in November 2021. The issue price of this IPO was ₹ 2150. However, on November 18, 2021, this IPO was listed with a discount of 9% on its issue price. On the day of listing, the stock fell further and closed at ₹ 1564. Even after nearly 3 years of listing, this stock has not been able to touch the IPO issue price. At the same time, the stock also fell below Rs 350 this year. Currently the share price is Rs 672.40.