Besides enabling payments, it is hoping it can use its user base of more than 300 million people to sell financial services products and do more commerce transactions. Sharma’s comments come amid scepticism from some analysts and investors over Paytm’s ability to establish itself as a leader in multiple businesses where it is trying to use its existing base of users to transact more. A Paytm spokesperson declined to comment. He also cited the example of Tesla in the US, which had also tanked on its stock market debut. Sharma said the company will have its share of ups and downs, but hard work and execution will define its value in the future. The 43-year-old founder said while one million retail investors investing in Paytm meant it had one million more believers, but it also meant it had to live up to the expectation of these investors and keep their faith in the company alive. He was accompanied by the Nodia-based company's group chief financial officer, Madhur Deora. Sharma reiterated during the townhall held virtually that Paytm staff should not get bogged down by the day-one show and that it was again time to put one's head down and build as a listed firm.
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Joker 'virus' back on Google Play Store, is hiding in these 14 Android apps Paytm’s shares on the BSE fell 27% from the IPO price to close at Rs 1,564.15 on the first day of trading Thursday, giving the company a market capitalisation of $13.3 billion, lower than its last private market valuation of $16 billion in 2019.