Paytm founder Vijay Shekhar Sharma turned emotional during his address at the Bombay Stock Exchange, or BSE, on the company's market debut this morning, after it completed India's biggest-ever initial public offering, or IPO.
In visuals, Mr Sharma was seen wiping tears with a handkerchief as he addressed a gathering in a hall of the BSE.
Mr Sharma, an engineering graduate, founded Paytm in 2010 as a platform for mobile recharges.
Paytm grew quickly after ride-hailing firm Uber listed it as a quick payment option and its use swelled further in November 2016, when the government's overnight ban on high-value currency notes boosted digital payments.
Paytm's success has turned Mr Sharma, a school teacher's son, into a billionaire with a net worth of $2.4 billion, according to Forbes. Its IPO has also minted hundreds of new millionaires in the country.
Shares in Paytm fell 21 per cent in their market debut, valuing the Ant Group-backed digital payments firm at around Rs 1.11 trillion. Shares were changing hands at Rs 1,705 in early morning trade versus the offer price of Rs 2,150.
Paytm, which also counts SoftBank among its backers, raised $2.5 billion in its IPO, of which $1.1 billion was from institutional investors.
With inputs from Reuters
Paytm's Vijay Shekhar Sharma Deletes Post On Ratan Tata After Internet Calls It Disrespectful SEBI Pulls Up Paytm Founder, Director on IPO Breaches: Report SEBI Notice To Paytm On 2.1 Crore Employee Stock Options To CEO, Firm Says... "Intention To Dupe UPSC": Ex-IAS Trainee Puja Khedkar Denied Pre-Arrest Bail Send Sheikh Hasina Back To Dhaka, Bangladesh Writes To India Software Engineer Loses Rs 11.8 Crore To "Digital Arrest" Scam In Bengaluru IIT Kanpur Graduates Secure 1,100 Job Offers In This Placement Season Swiss Government Adopts More EU Sanctions On Russia And Belarus Young Mammoth's Over 50,000-Year-Old Remains Found Nearly Intact In Siberia Track Latest News Live on NDTV.com and get news updates from India and around the world.