Vijay Shekhar Sharma aims to transform Paytm into a $100 billion Indian giant
Vijay Shekhar Sharma, the founder and CEO of Paytm, has voiced a bold ambition: to transform his company into a $100 billion Indian titan.
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Vijay Shekhar Sharma, the founder and CEO of Paytm, has voiced a bold ambition: to transform his company into a $100 billion Indian titan. Despite facing a significant regulatory challenge, Sharma remains resolute in his vision to rebuild and grow Paytm's market value, currently around $3.5 billion.
Regulatory Setbacks and Road to Recovery
Earlier this year, Paytm's associated entity, Paytm Payments Bank Limited (PPBL), was hit with severe restrictions by the Reserve Bank of India (RBI). The central bank's crackdown, due to non-compliance with regulatory standards, led to a halt in accepting new deposits and significantly impacted the company's operations and market position.
Addressing the setback, Sharma acknowledged the crisis as a test of the company's maturity and responsibility. “We should have understood better and fulfilled our responsibilities more effectively," he candidly remarked. "We are now far better prepared to navigate challenges."
Ambitious Vision for Growth
During a candid discussion at an event in Gurugram on July 6, Sharma shared his ambitious goal: “I have a personal ambition to make Paytm a $100 billion Indian company.” He emphasized the importance of transforming the company and exploring new growth avenues.
Sharma highlighted the potential in cross-selling, particularly in extending credit to small businesses. "The dividend of the mobile payment revolution is credit," he noted. Paytm envisions providing loans ranging from as little as 1,000 rupees to millions, fostering economic inclusivity at scale.
The Responsibility of Public Listing
Drawing an analogy between going public and marriage, Sharma stressed the increased responsibility that comes with being a publicly listed company. “Going public is like marriage—it brings greater responsibility,” he remarked, while expressing confidence in the stability of Paytm's stock.
Sharma also expressed his appreciation for the guidance provided by Indian bankers, underscoring their crucial role in shaping Paytm's path as it navigates the complexities of being a public entity. “Bankers’ suggestion (public listing) is very important. We underestimate Indian bankers while taking our business model public,” he said.
Moving Forward
As Paytm works on rebuilding its verticals, including pruning non-core assets and focusing on distribution models, the founder remains optimistic about the company's future. By leveraging opportunities in the credit sector and reinforcing its operational compliance, Paytm aims to regain its market position and pursue its ambitious growth objectives.