It’s been a few turbulent months for Vijay Shekhar Sharma and his 12-year-old company, Paytm. And there seems to be no respite from the troubles.
It all started last November, with Paytm’s long-anticipated IPO, seeking to raise as much as $2.5 billion to fund expansion plans. The fintech behemoth had been a unicorn since 2015 and was last valued at a staggering $16 billion before it decided to go public. Through the IPO, Paytm was seeking a valuation of $20 billion.