Paytm founder Vijay Shekhar Sharma breaks into tears on listing day

Paytm founder Vijay Shekhar Sharma has broke out into tears during his address at the Bombay Stock Exchange (BSE) as the company got listed today on both the exchanges.

Paytm IPO, which is India's biggest ever, has seen a tepid listing, with the shares listing at discount of 9% at ₹1,950 on NSE against its IPO issue price of ₹2,150 per equity share.

The three-day IPO of Paytm's parent One97 Communications was launched on November 1 that concluded on November 3 with a price band of ₹2,080-2,150 per share

In a photo that went viral, Sharma was seen wiping tears with a handkerchief as he addressed a gathering in a hall of the BSE.

Vijay Shekhar Sharma, an engineering graduate, founded Paytm back in 2010 as a mobile recharge company. It grew quickly after ride-hailing firm Uber listed it as a quick payment option in India.

The government's demonetisation move has given a massive push to the payments firm as people were just turning to digital payments.

Paytm, which also counts SoftBank and Berkshire Hathaway as its backers, has since branched out into services including insurance and gold sales, movie and flight ticketing, and bank deposits and remittances.

Born to a school teacher father and a home maker mother in a small city in India's most populous Uttar Pradesh state, Sharma became India's youngest billionaire in 2017. He still loves having tea at a roadside cart and often takes short morning walks to buy milk and bread