Detailed Information About Pay Through Mobile

Paytm was founded by Vijay Shekhar Sharma in Noida, Delhi NCR, with an initial investment of $2 million. Initially, the company offered services such as prepaid mobile and DTH recharges. Over time, it expanded its offerings to include debit card payments, postpaid mobile services, and landline bill payments.

Investment History and Foundation of Paytm

In October 2011, Sapphire Ventures, a venture capital firm with offices in Menlo Park, San Francisco, Austin, and London, invested $10 million in One97 Communications Ltd. In January 2014, they launched the Paytm Wallet, which was adopted as a payment option by the Indian Railways and Uber.

In July 2021, One97 Communications submitted a draft red herring prospectus to the Securities and Exchange Board of India in preparation for its initial public offering (IPO). The IPO was launched in November 2021, successfully raising ₹18,300 crore (approximately US$1.9 billion) at a valuation of US$20 billion, making it the largest IPO in India's history. The shares began trading on the National Stock Exchange (NSE) on November 18, 2021, opening at ₹1,950, which was 9.3% below the upper band of the IPO price range. By the end of the day, the shares had dropped more than 27%, closing at ₹1,560. This marked the largest decline on a listing day in the history of Indian IPOs.