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<ul><li>The net worth of Falguni Nayar is nearly four times higher than that of <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword>.</li><li><keyword id="12213246" type="General" weightage="20" keywordseo="paytms-vijay-shekhar-sharma" source="Orion">Paytm’s Vijay Shekhar Sharma</keyword> has gone down 1,000 ranks in the Forbes Billionaires list in the last year.</li><li><keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword>’s Falguni Nayar is currently the 573rd richest person in the world with a net worth of $4.8 billion.</li></ul>The net worth of Falguni Nayar — the founder and chief executive officer (CEO) of Nykaa — is nearly four times higher than that of <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>’s founder and CEO, Vijay Shekhar <keyword id="445" type="General" weightage="100" keywordseo="sharma" source="Orion">Sharma</keyword>. The shuffle in net worth rankings came only a few months after these founders took their companies public. <br /><br />While Nykaa was able to double investors’ money on its first day of listing, Paytm has been struggling to even reach its issue price of ₹2150. Nykaa was listed at a price of <a href="https://www.businessinsider.in/stock-market/news/nykaa-starts-trading-at-2001-a-premium-of-77-87/articleshow/87618803.cms"> ₹2,001 </a>compared to the issue price of ₹1,125. The company currently sits at a market capitalisation of ₹70,690 crore ($9.2 billion), which is lower than Nykaa’s listing price but still higher than the issue price of $7.4 billion.<br /><br />Paytm, on the other hand, is listed at a discount of 9% on the listing day, and has been on a decline ever since. It’s worth noting that Paytm was the highest valued startup — valued at $16 billion — in India till 2021 before Byju’s took over. <br /><br />Nearly 75% of its valuation has been eroded ever since Paytm made its entry into the public market. It is important to note that Paytm had raised capital at the valuation of $19.9 billion in its initial public offering (IPO), but its current market capitalisation is ₹41,476 crore ($5.4 billion).<br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Person<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">World’s richest rank 2021<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net worth in 2021<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">World’s richest rank 2022<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Current net worth 2022<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vijay Shekhar Sharma<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1362<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.3 B<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2387<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.1 Billion<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falguni Nayar<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">N/A<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">573<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$4.8 billion<br /><br /></td></tr></tbody></table><strong>Source: Forbes Billionaires List<br /></strong><br />With this, Vijay Shekhar Sharma has slipped 1,000 ranks in Forbes Billionaires list. Last year, Sharma was the <a href="https://www.forbes.com/billionaires/">1362 richest person</a> in the world with a net worth of $2.3 billion. But currently, he is at the 2387th spot with a net worth of $1.1 Billion. <br /><br />Nayar, on the other hand, was not named on the list last year. She is <a href="https://www.forbes.com/real-time-billionaires/#1c267a023d78">currently at the 573rd spot</a> with a net worth of $4.8 billion. With that being said, Falguni Nayar is currently the richest self-made woman in India as per the Forbes’ real-time Billionaires' Index.<br /><br />Zomato’s founder and CEO Deepinder Goyal is not part of this list. <br /><br /><strong>SEE ALSO:<br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/investment/news/india-is-monitoring-crypto-transactions-of-700-investors-evaders-could-reportedly-face-a-hefty-penalty-tax/articleshow/90263407.cms">India is monitoring crypto transactions of 700 investors – evaders could reportedly face a hefty penalty tax</a><br /></strong><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/germanys-cyber-watchdog-advises-users-to-switch-from-kaspersky-antivirus-as-russia-ukraine-tensions-simmer/articleshow/90261748.cms"><strong>Germany’s cyber watchdog advises users to switch from Kaspersky antivirus as Russia-Ukraine tensions simmer</strong></a><br />

Falguni Nayar's net worth is now four times higher than that of Vijay Shekhar Sharma

Paytm, leading payments and financial services company, on Friday said it has achieved operating profitability with <keyword id="63060" type="General" weightage="20" keywordseo="ebitda" source="Orion">EBITDA</keyword> before ESOP cost at Rs 31 crore, much ahead of its September 2023 guidance.<br /><br />Paytm's revenue from operations increased to Rs 2,062 crore (no <keyword id="6358921" type="General" weightage="50" keywordseo="upi" source="Orion">UPI</keyword> incentive recorded this quarter), a growth of 42 per cent YoY and 8 per cent QoQ.<br /><br />The growth was driven by increased adoption by consumers and subscription services by merchant partners along with sustained growth seen in loan distribution and commerce business, said the company.<br /><br />Paytm's founder and CEO <keyword id="914589" type="General" weightage="80" keywordseo="vijay-shekhar" source="Orion">Vijay Shekhar</keyword> <keyword id="445" type="General" weightage="20" keywordseo="sharma" source="Orion">Sharma</keyword> wrote a letter to shareholders announcing the achievement.<br /><br />"This has been made possible due to the relentlessly focused execution by our team. The team was asked to focus on growth with quality revenues that contribute to the bottom line. We have achieved this milestone without losing sight on growth opportunities and keeping all compliances as well as risk factors under a strict watch," he said.<br /><br />Contribution profit was Rs 1,048 crore in the quarter, with margins consistently improving from 31 per cent in December 2021 to 51 per cent in December 2022 on account of improved profitability of payments business and increased mix of high margin businesses such as loan distribution.<br /><br />Net payment margin grew to Rs 459 crore (up 120 per cent YoY) on back of improved profitability in the payments business.<br /><br />Paytm's EBITDA before ESOP margin stood at 2 per cent of revenues as compared to (27 per cent) a year ago, due to sustained improvement in contribution profit and strong operating leverage.<br /><br />The company said it continued to witness strong revenue momentum across its businesses.<br /><br />SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-sbi-life-hdfc-life-among-stocks-in-focus/articleshow/97567830.cms">Sensex, Nifty50 close in the green powered by financial services and auto stocks</a><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adanis-stock-rout-can-impact-its-ability-to-raise-capital-or-refinance-debt-says-moodys/articleshow/97582403.cms">Adani’s stock rout can impact its ability to raise capital or refinance debt, says Moody’s</a>

Paytm founder announces operating profitability, says free cash flow generation is next

Indians took 17 years on an average to make their first billion— and it has gotten a lot faster recently

<ul><li>Vijay Shekhar Sharma-led <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> today revealed that its average loan ticket size has surged by over 21% in the September quarter.<br /></li><li>The company, whose shares are down by over two-thirds from its issue price of ₹2,150 since debuting in November last year, disbursed over 1 lakh loans every day during the quarter.<br /></li><li>Reacting to the news, Paytm’s shares gained even as the broader markets were in the red on weak global cues. <br /></li></ul>Paytm today reported a 21% quarterly growth in its average loan ticket size from ₹6,551 to ₹7,956 in the September quarter. It also disbursed over 1 lakh loans per day during the period, the company said in an exchange filing.<br /><br />The Vijay Shekhar Sharma-led company has reported that its pace of loan disbursals has increased from the previous quarter. At this rate, it would end up issuing loans worth ₹34,000 crore by the end of FY23, up from the ₹24,000 crore as estimated in the previous quarter.<br /><br />The surge in loan disbursals that Paytm is seeing should not come as a surprise. <a href="https://www.businessinsider.in/finance/banks/news/banks-to-reap-rewards-of-interest-rate-hikes-in-q2-earnings/articleshow/94706875.cms">Analysts have observed a strong growth in retail loans in the banking and financial services sector</a>. HDFC Bank, the largest private sector lender witnessed a 24% year-on-year growth in loans in its Q2 update, driven by corporate-rural, retail and wholesale segments.<br /><br /><div type="image" title="Paytm average loan ticket size Q2 FY22." msid="94753575" hostid="261" sizebytes="15012" caption="&amp;lt;p&amp;gt;Paytm average loan ticket size&amp;lt;/p&amp;gt;"></div><br />Paytm’s improved performance should come as a relief to the company’s investors, who have seen over two-thirds of their investment erode from the issue price since its listing in November last year. The company’s shares were up 0.9% as of 10:30 am today even as the <a href="https://www.businessinsider.in/stock-market/news/sensex-falls-642-points-as-us-jobs-data-drags-down-global-markets/articleshow/94752259.cms">benchmark Nifty50 index was down 1.2%</a>.<br /><br />Apart from this, Paytm also reported healthy growth in its offline payments business. The total devices deployed increased from 3.8 million in Q1 to 4.8 million in Q2.<br /><br />It is worth noting that this number includes the point-of-sales and soundbox devices only, not the dynamic QR codes that merchants can additionally deploy.<br /><br />Despite a healthy growth in devices deployed, the gross merchandise value, or GMV – which is essentially the value of total transactions carried out through these devices – registered a relatively slower growth. <br /><br />Sequentially, on a per user basis, the GMV was barely up, too, with an increase of a meager 0.7%, down from the 8.2% surge reported in the previous quarter.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/business/telecom/news/telecom-sector-to-ring-in-stability-in-q2-jio-and-airtel-expected-to-grow-stronger-vi-weaker/articleshow/94709309.cms">Telecom sector to ring in stability in Q2 – Jio and Airtel expected to grow stronger, Vi weaker</a><br /><br /><a href="https://www.businessinsider.in/finance/banks/news/banks-to-reap-rewards-of-interest-rate-hikes-in-q2-earnings/articleshow/94706875.cms">Banks to reap rewards of interest rate hikes in Q2 earnings</a><br /><br /></strong><a href="https://www.businessinsider.in/stock-market/news/nifty50-valuations-remain-expensive-but-experts-are-divided-on-indias-growth-prospects/articleshow/94704195.cms"><strong>Nifty50 valuations remain expensive, but experts are divided on India's growth prospects</strong></a><br />

Paytm reports an increase of over 21% in average loan ticket size

Top 10 tech billionaires on the Forbes list of 100 richest Indians

India’s richest tech billionaires in 2019

<br /><ul><li>The <keyword id="8205065" type="UNKNOWN" weightage="20" keywordseo="forbes-100-richest-indians">Forbes 100 Richest Indians</keyword> list puts Shiv Nadar on top as the country’s richest tech billionaire worth $14.4 billion. <br /></li><li>Wipro chairman Azim Premji ranks second with a net worth of $7.2 billion. <br /></li><li>The list also sees the debut of Byju Raveendran, who is the youngest billionaire on the list and the only one who is under 40 years old.<br /></li></ul>The richest of the rich when it comes to India’s digital economy include a few familiar faces, and a few brand new ones.<br /><br />On the one hand, the list is dominated by regulars like HCL’s Shiv Nadar and Wipro’s Azim Premji. On the other, start up founders like Paytm’s Vijay Shekhar Sharma and Byju founder Byju Raveendran are also working their way up the list.<br /><br />It should be noted that when it comes to technology sector, Infosys seems to be in the business of creating billionaires. Four of the top ten billionaires are currently working for the digital giant, or have in the past.<br /><br /><strong>Scroll on to see the ten richest tech billionaires on Forbes 100 Richest Indians list:</strong><br />

<br /><ul><li>The Hurun Research Institute released a list of the top 100 billionaires, a few of whom are from the technology sector.</li><li>India’s richest tech billionaire is Wipro chairman, Azim Premji but he’s given away 30% more money than his own net worth. </li><li>Vijay Shekhar Sharma is India’s fourth richest tech billionaire but the only start up guy on the list.</li></ul>India’s digital economy is growing, and is filling the coffers of innovators and others. <br /><br />The IIFL Wealth Hurun Report India ranks the richest of Indians — and quite a few of them are from the technology sector.<br /><br />Unlike other industries, globally tech billionaires are self-made, and come from humble beginnings. While India has a few who had legacy businessmen, a new set of entrepreneurs who bet on new-age technology like cloud, mobile payments and digital ad platforms also managed to make their moolah and hence made it to the list. <br /><br />Scroll on to see India’s 10 richest tech billionaires and their net worth:<br />

<ul><li>Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant <keyword id="6357120" type="General" weightage="20" keywordseo="paytm" source="Orion">Paytm</keyword>.</li><li>Part of the sell-off in <keyword id="4326962" type="General" weightage="20" keywordseo="paytm-shares" source="Orion">Paytm shares</keyword> could also be a reflection of the market mood.</li><li>But, there is a lot more that the street is worried about.</li><li>Founder <keyword id="198636" type="General" weightage="20" keywordseo="vijay-shekhar-sharma" source="Orion">Vijay Shekhar Sharma</keyword> wants the market to be excited about Paytm as a superapp but many others have argued that a smartphone itself is a super app.</li><li>Check out the latest news and updates on<a href="https://www.businessinsider.in/stock-market"> Business Insider</a>.</li></ul>Two of India’s most-awaited tech IPOs, that of Zomato and Paytm, came with a lot of anxiety around the price at which the shares were being sold to the first lot of public investors. Zomato still made some money for those who got the shares in the initial public offering (IPO) but those who got shares in the Paytm IPO have lost 27% on the opening day. <br /><br />By noon, Zomato had a higher market cap than One97 Communications, the listed parent of the digital payments giant Paytm. The overall market mood played a role in pushing down Paytm’s share price, Deven Choksey, managing director of KR Choksey Shares and Securities, told Business Insider. The sell-off seen earlier in the week intensified on Thursday (the day of Paytm’s market Debut) and 42 out of the Nifty 50 stocks were in the red. But that’s not the only reason why people sold Paytm shares. <br /><br /><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation pre-IPO<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valution sought in IPO</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Market cap, as on November 18<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zomato<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$5.8 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$8.1 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,21,731 crore ($16.3 billion)<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$16 billion<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$19.9 billion</td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,01,399 crore ($13.6 billion)<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Companies, BSE<br /><br />It’s not that Paytm's advisors didn't see it coming. According to a Bloomberg report <a href="https://www.businessinsider.in/business/news/paytm-may-drop-its-pre-ipo-sale-as-advisors-recommend-lower-valuation/articleshow/87187525.cms">published in October</a>, Paytm was advised to go for a lower valuation than $20 billion in its pre-IPO round but the company decided to skip the round altogether. Even stock brokerage firm Macquarie had given Paytm a with an underperform rating, and projected that the stock may fall to as much as ₹1,200 (compared to an issue price of ₹2,150) any time in the next one year .<br /><br />Interestingly, Paytm was the highest valued Indian startup between 2019 to me this year. The company got a valuation of $19.9 billion in its public issue. The only smile that Paytm believers could steal was thanks to the meme fest on Twitter.<br /><br />                          <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778007" hostid="261"></div><br />The drop in Paytm’s share price led to a fall of the stock market. “Today’s fall in the market is also largely due to collateral damage, Paytm loss to investors,” Deven Choksey, managing director of KRChoksey Shares and Securities said.<br /><br />Manoj Dalmia, founder and director of Proficient Equities Private Limited also highlighted three reasons behind Paytm’s weak listing on the stock exchange. The issue ranges from high valuation to intense competition.<br /><br />These are some of the issues pointed out by Manoj Dalmia of Proficient Equities, Scenes by Avalon’s Shashank Udupa, TaxationHelp.in’s Neha Nagar<br /><br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Issue<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reason<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Overvaluation <br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">The company is overvalued at a Price to Sales (P/S) value of 26 compared to its global peers, who have a P/S of 0.3-0.5<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Limited promoters in India<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nearly 75% of the promoters of Paytm are from other countries and are selling shares worth ₹10,000 crore, which is more than 50% of the issue.<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Not a market leader<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Paytm is not a market leader in any business it operates in.<br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Analyst rating<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Falling grey market premium and Macquarie's downrating has pushed the stock into a downward momentum. <br /><br /></td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lack of focused business model<br /><br /></td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">It is present in all over the Fintech space but not doing well in any of them while the competition is rising from players like Google, Amazon, PhonePe. <br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />Dalmia is not alone in his pessimism around Paytm’s near-term prospects. “Dabbling in multiple business lines inhibits PayTM from being a category leader in any business except wallets, which are becoming inconsequential with the meteoric rise in UPI payments. Competition and regulation will drive down unit economics and/or growth prospects in the medium term in our view,” Macquarie Research analysts Suresh Ganapathy and Param Subramanian said. <br /><br /><strong>ALSO WATCH: Even the biggest of conglomerates find it difficult to do more than two things right, market expert Saurabh Mukherjea told Business Insider. <br /></strong><br />                            <div type="Youtube" id="kSf5f3gXjKg" title="A ₹3,000-crore fund manager explains why he won&amp;#39;t buy RIL, why he sold ITC and bought HDFC Life" thumbUrl="https://i.ytimg.com/vi/kSf5f3gXjKg/mqdefault.jpg"></div><br />Paytm is one of the biggest digital payments companies in India with offerings across several digital modes of payments like unified payments interface (UPI), credit and debit cards payments. It also offers wealth management solutions through Paytm Money and banking services through Paytm Payments Banks.The company has 333 million total customers, 114 million annual transacting users and 21 million registered merchants. <br /><br />Paytm has a strong market share in digital payments via the unified payments interface (UPI) but the margin is zero in peer-to-peer payments and wafer thin when merchants get paid. <br /><br />In the personal finance space ⁠— where Paytm sells mutual funds, gold and stocks ⁠— it has a less than 1% market share and makes zero commission, according to Macquarie. In insurance, only one out of 100 policies are sold online and Paytm is pitted against an early bird like Policybazaar as well as legacy banks, which dominate the space.<br /><br />Paytm aims to make money from its lending business. “Since Paytm will largely be engaged in selling down these loans to partner banks or NBFCs (non-banking financial companies) balance sheets, the addressable fee pool is much lower,” said Macquarie, which pegged the potential market for buy now, pay later schemes to be anywhere between $45 billion and $50 billion by March 2026.<br /><br />                            <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778072" hostid="261"></div><br />Despite a massive user base, the company’s revenue has been marginally declining on a year-on-year (YoY) basis. The company reported a revenue of ₹3,186 crore, with net loss of ₹1,761 crore. “Loss-making businesses will find it hard to sustain premium valuations,” Choksey added.<br /><br />Ravi Singh, head of research and vice president at ShareIndia, noted that Paytm’s future growth is a key to watch for long term investors. “We advise the investors after looking at the overall valuations and earlier losses of Paytm, to book their positions and wait for 1700-1600 levels for fresh investment. Retail investors may remain cautious as the overall market is in profit booking zone pushing maximum stocks in downside territory,” he added. <br />                            <div type="image" title="Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp" msid="87778081" hostid="261"></div><br />“People ask me how do you raise money at such a high price? I say, I don’t raise money on a price but I raise money on a purpose,” founder and chief executive officer Vijay Shekhar Sharma. He wanted India to be as excited about his dream of a super app for anything that can be bought and sold online. <br /><br />But many others have argued that a smartphone itself is a super app. Another startup founder Kavin Mittal, the man behind the $1.4 billion Hike Messenger, had similar ambitions but found it to be a misguided goal and dropped the plan in January 2021. <br /><br />Will Sharma prove his detractors wrong with Paytm? Only time will tell. <br /><br /><strong>SEE ALSO:<br /></strong><a href="https://www.businessinsider.in/stock-market/news/paytm-ipo-listed-at-discount-of-9-starts-trading-at-1955/articleshow/87772082.cms" data-type="tilCustomLink">India’s biggest IPO lists 9% below the IPO price and it may fall even further, warn analysts</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/paytm-shares-listing-below-ipo-price-but-experts-say-not-to-invest/articleshow/87762352.cms">Paytm is likely to list below IPO price and experts advice serious investors to wait a while before buying</a><br /><br /><a href="https://www.businessinsider.in/business/corporates/news/itc-reportedly-plans-to-spin-out-it-business-itc-infotech/articleshow/87758056.cms">ITC has a ₹2,500 crore IT business hiding in plain sight and that makes the street go Yippee!</a><br />

Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp

<br /><ul><li><keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword>’s space company <keyword id="6360701" type="DEFINITION" weightage="20" keywordseo="spacex">SpaceX</keyword> successfully caught <keyword id="165741" type="PERSON" weightage="20" keywordseo="Falcon-9">Falcon 9</keyword>’s rocket head as it fell back to Earth for the third time in a row, marking a new record for the company. <br /></li><li>Recovering the rocket’s nose — or fairing — for reuse can cut down on costs for launching rockets and putting satellites into space.<br /></li><li>In order to catch the two halves of the rocket nose, Space X has two boats out in the middle of the Atlantic Ocean that wait with nets outstretched.<br /></li></ul>Elon Musk and his space company SpaceX make catching a rocket head with a giant net, in the middle of the ocean, as it flies back to Earth look easy. Not only has SpaceX done so successfully once, but thrice in less than 30 days marking a milestone for the company. <br /><br /><div type="twitter" handle="elonmusk" handlename="Elon Musk" image="http://pbs.twimg.com/profile_images/1295975423654977537/dHw9JcrK_normal.jpg" favoritecount="237414" retweetcount="27754" status="Aloha, welcome back from space 💫 https://t.co/xWPN09Wtaw" createdat="1597789066000" id="1295847382073171970"></div><br />Musk’s brainchild has been lauded for its initiative to build reusable rockets in an attempt to make access to space more affordable for everyone. Falcon 9, the biggest rocket in its inventory, launched from Cape Canaveral in the US on August 18 for the 40th time.<br /><br /><div type="twitter" handle="SpaceX" handlename="SpaceX" image="http://pbs.twimg.com/profile_images/1082744382585856001/rH_k3PtQ_normal.jpg" favoritecount="49624" retweetcount="6862" status="Falcon 9’s first stage has landed on the Of Course I Still Love You droneship – first time a booster has completed… https://t.co/LmZJGjZU9S" createdat="1597761656000" id="1295732417450217472"></div><br />It was a record sixth-time that the company was using the same booster on the Falcon 9. The booster accounts for 60% of the rocket’s overall price tag helping it severely cut down on launch costs. <br /><br />While SpaceX seems to be confident about its abilities to recover boosters, recovering payload fairings — the rocket’s nose cone which splits into two as it falls back to Earth — is another story. Recovering and reusing them can further reduce costs for the company as its rocket launches become more frequent.<br /><br /><div type="twitter" handle="elonmusk" handlename="Elon Musk" image="http://pbs.twimg.com/profile_images/1295975423654977537/dHw9JcrK_normal.jpg" favoritecount="47998" retweetcount="2814" status="Ms Tree catches fairing in her net https://t.co/sqlJ63NetB" createdat="1597786591000" id="1295837003444039682"></div><br /><strong>How to catch a Falcon 9 fairing<br /></strong>Not much is known about what goes on behind the scenes, aside from the fact that each half of the rocket’s fairing is equipped with its parachute and guidance software. Back on Earth SpaceX’s two boats — GO Ms. Tree and GO Ms. Chief — wait with outstretched nets as the pieces return. <br /><br />At times, weather conditions and visibility can lead the best of plans astray. After failing more than a dozen times, SpaceX only caught its first fairing in June 2019. It took another year for it to simultaneously catch both halves in the same drop on July 21. <br /><br /><div type="image" title="two fairings" msid="77631219" hostid="261" caption="&amp;lt;p&amp;gt;Two fairing catches, one launch&amp;lt;/p&amp;gt;"></div><br />In today’s catch, however, Ms. Tree was only able to net one fairing. <br /><br /><div type="twitter" handle="SpaceX" handlename="SpaceX" image="http://pbs.twimg.com/profile_images/1082744382585856001/rH_k3PtQ_normal.jpg" favoritecount="14929" retweetcount="1306" status="Ms. Tree caught a Falcon 9 fairing half! https://t.co/TFaJqIf1qT" createdat="1597763965000" id="1295742100898582528"></div><br />Even if the fairings land in the water, SpaceX can scoop them up and take them back to shore to be prepped for reuse. According to the founder of one of the biggest unicorns in India, <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>’s <keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword>, Musk has changed the ‘space industry forever’.<br /><br /><div type="twitter" handle="vijayshekhar" handlename="Vijay Shekhar Sharma" image="http://pbs.twimg.com/profile_images/813598012173754368/MnHjJnCv_normal.jpg" favoritecount="269" retweetcount="26" status="This happened. @elonmusk ‘s @SpaceX has changed the space industry forever. This is Falcon 9 rocket’s fairing as… https://t.co/U6jzbwW60I" createdat="1597821736000" id="1295984410357936129"></div><br />The next launch scheduled for August 27 will tell if SpaceX and Musk can keep up their winning streak.<br /><br /><strong>SEE ALSO:<br /><a href="https://www.businessinsider.in/science/space/news/nasa-confirms-that-the-dent-in-earths-protective-shield-is-splitting-into-two-and-it-is-getting-bigger/articleshow/77611768.cms">NASA confirms that the dent in Earth’s protective shield is splitting into two as it gets bigger</a><br /><br /><a href="https://www.businessinsider.in/science/space/news/skyroot-aerospace-successfully-tests-homegrown-rocket-engine-is-on-track-for-its-first-full-rocket-launch-by-2021/articleshow/77506716.cms">India’s first private player to successfully test a homegrown rocket engine is on track for its first full rocket launch by 2021</a><br /><br /></strong><a href="https://www.businessinsider.in/science/space/news/hubble-space-telescope-images-explain-why-betelgeuse-was-fading-and-how-the-monster-star-is-not-going-to-explode-just-yet/articleshow/77537143.cms"><strong>Hubble Space Telescope images explain why Betelgeuse was fading and how the monster star is not going to explode — just yet</strong></a><br /><br />

Elon Musk’s SpaceX catches Falcon 9’s rocket head for the third time in a row — with a giant net out in the middle of the Atlantic ocean

<ul><li><strong>The Sanjiv Goenka-led RPSG group has bagged the Lucknow franchise of the IPL.</strong></li><li><strong>Goenka is happy about the purchase and confident that the investment will be profitable.</strong></li><li><strong>Here’s everything you need to know about the Kolkata-based business tycoon.</strong></li></ul>The Sanjiv Goenka-led RP-Sanjiv Goenka Group (RPSG) has bagged the new Lucknow franchise in the cash-rich Indian Premier League (IPL) for a whopping ₹7,090 crore – close to a billion dollars – marking a return for the company to the world's biggest T20 league.<br /><br />The RPSG group was founded by <keyword id="6355523" type="General" weightage="20" keywordseo="sanjiv-goenka" source="Orion">Sanjiv Goenka</keyword> in 2011, after RPG Enterprises, founded by his father Rama Prasad Goenka, was divided between Sanjiv and Harsh Goenka.<br /><br />The RPSG group is a Kolkata-based conglomerate and its major businesses include CESC, a power generation and distribution company, the 120-year-old music company Saregama and the recently launched snacks brand Too Yumm!<br /><br />The company also operates Spencer’s retail chain, Nature’s Basket, Woodlands Hospital, Harrisons Malayalam and several other companies, making it a total of 22 companies.<br /><br />According to <a href="https://www.forbes.com/profile/sanjiv-goenka/?sh=541d14966301">Forbes</a>, Sanjiv Goenka has a net worth of $2.7B (approx. ₹20,250 crore). The RPSG group reported a revenue of ₹26,634 crore as on March 31, 2021 and has assets worth over ₹47,000 crore.<br /><br /><cmsannotation type="cmsannotation" annotationid="Goenka’s love for sports" comment="subhead" text="Goenka’s love for sports"><span data-til="noop">Goenka’s love for sports</span></cmsannotation><br /><br />For Sanjiv Goenka, winning the bid for Lucknow may not be just an investment. Goenka’s love for sports is evident from his other ventures as well.<br /><br /><div type="image" title="E5E3B7AD-FE67-4B15-87BE-3FE36E975B49" msid="87277605" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka with Robbie Keane.&amp;lt;/p&amp;gt;"></div><br />Sanjiv Goenka holds a stake in the ATK Mohun Bagan football club, which is a part of the Indian Super League (ISL). Sourav Ganguly, the president of the Board of Control for Cricket in India (BCCI) is also a co-owner of the ATK Mohun Bagan.<br /><br />The group is also involved in table tennis and owns the RPSG Mavericks Kolkata, which is part of India’s biggest table tennis league, the Ultimate Table Tennis League. <br /><br /><cmsannotation type="cmsannotation" annotationid="Sanjiv Goenka’s second stint in IPL" comment="subhead" text="Sanjiv Goenka’s second stint in IPL"><span data-til="noop">Sanjiv Goenka’s second stint in IPL</span></cmsannotation><br /><br />      <div type="image" title="4A1F6760-2CCE-41A2-A1E1-4D8BDC7B4640" msid="87277431" hostid="261" caption="&amp;lt;p&amp;gt;Sanjiv Goenka in Rising Pune Super Giants jersey.&amp;lt;/p&amp;gt;"></div><br />Sanjiv Goenka’s RPSG is no stranger to the Indian Premier League – it had a two-year stint in the IPL after it bagged the Rising Pune Supergiant franchise for IPL 2016 and 2017, after Chennai Super Kings and Rajasthan Royals were suspended from the tournament for two years.<br /><br />Since 2017, Goenka has been eyeing a return to the IPL. In 2016, the team had an average outing, ending up seventh on the table with just five wins. After this, Goenka took the bold decision of dropping Mahendra Singh Dhoni from captaincy and handed over the reins to Steve Smith.<br /><br />This decision turned out well for the team and the team went on to the finals, losing the title to Mukesh Ambani’s Mumbai Indians by the barest of margins – just 1 run.<br /><br />Goenka has returned to IPL with the acquisition of IPL’s latest franchise, Lucknow. The RPSG group had bid for Lucknow, Ahmedabad and Indore.<br /><br /><cmsannotation type="cmsannotation" annotationid="We’ve done our math, says Goenka" comment="subhead" text="We’ve done our math, says Goenka"><span data-til="noop">We’ve done our math, says Goenka</span></cmsannotation><br /><br />Soon after the BCCI announced that the RPSG group had won the bid for the Lucknow franchise, Goenka spoke to Cricbuzz. Here are some of the key takeaways from the <a href="https://www.cricbuzz.com/cricket-news/119559/weve-done-our-math-sanjeev-goenka-after-7090-cr-bid-cricbuzzcom">interview</a>.<br /><br />Speaking about why the group selected Lucknow despite winning the bid for both Ahmedabad and Lucknow, Goenka said, “We have operations in Uttar Pradesh. We do power distribution there. We have a very big presence in the northern state. Closer by in Chandigarh, we have the power distribution rights. So for North India, that becomes like a hinterland.”<br /><br />Goenka also revealed the math behind the decision to bid over ₹7,000 crore for the team. “I will probably be paying only ₹3,500 crore in 10 years. It is because I will be getting ₹3,500 crore from the BCCI from the broadcast rights. In the next five years, I may get more [from the BCCI]. The net present value of that is ₹2,100 crore. That means I have got an IPL team for ₹2,100 crore. Tell me, is it good or not?”.<br /><br />In an <a href="https://www.moneycontrol.com/news/business/expect-lucknow-ipl-team-to-command-rs-10000-crore-valuation-in-5-years-rpsg-groups-sanjiv-goenka-7625691.html">interview</a> to Moneycontrol, Goenka revealed that he expects the franchise to be worth over ₹10,000 crore in five years.<br /><br /><strong>SEE ALSO:<br /><br /><a href="https://www.businessinsider.in/thelife/news/meet-girish-mathrubootham-founder-and-ceo-of-freshworks/articleshow/86453777.cms">Girish Mathrubootham, the son of a retired bank officer who built a $13 billion company in just 10 years</a><br /><br /><a href="https://www.businessinsider.in/thelife/personalities/news/murali-divi-the-billionaire-scientist-behind-divis-labs-is-richer-by-6-billion-and-counting-since-the-pandemic/articleshow/86749881.cms">Murali Divi, the billionaire scientist behind Divi’s Labs, is richer by $6 billion, and counting, since the pandemic</a><br /><br /><a href="https://www.businessinsider.in/business/startups/news/iron-man-vijay-shekhar-sharma-put-his-own-money-on-the-line-to-launch-paytm/articleshow/84468805.cms">‘Iron Man’ Vijay Shekhar Sharma put his own money on the line to launch Paytm — and ten years later the company is ready to go public</a></strong><br />

Sanjiv Goenka makes a billion dollar comeback to the world's biggest T20 stage

<ul><li><keyword id="198636" type="PERSON" weightage="20" keywordseo="Vijay-Shekhar-Sharma">Vijay Shekhar Sharma</keyword> took to Twitter to announce that PayPay has garnered 10 million users. </li><li>PayPay was formed out of <keyword id="6357120" type="DEFINITION" weightage="20" keywordseo="paytm">Paytm</keyword>’s partnership with SoftBank and Yahoo Japan. </li><li>SoftBank is one of the major investors in Paytm.</li></ul>Paytm’s Japanese subsidiary PayPay has managed to net 10 million users in ten months. <br /><br />Paytm founder Vijay Shekhar Sharma took to Twitter to announce the same. <br /><br /><div type="twitter" handle="vijayshekhar" handlename="Vijay Shekhar" image="http://pbs.twimg.com/profile_images/813598012173754368/MnHjJnCv_normal.jpg" favoritecount="775" retweetcount="76" status="Our Japan ‘s @PayPayOfficial 🇯🇵 business achieved a key milestone ! Just in 10 months, we are now 10 million users,… https://t.co/NGymRv1Rmp" createdat="1565254226000" id="1159386373641494530"></div>

<br />In October 2018, Paytm had partnered with SoftBank and Yahoo Japan to offer digital payment solutions in Japan. Through this collaboration, Yahoo Japan suspended its own wallet giving PayPay direct access to all its Yahoo wallet consumers. <br /><br />SoftBank is one of the major investors in Paytm. In 2017, Softbank had made its biggest bet in the Indian ecosystem by pumping in $1.4 billion in Paytm. <br /><br />Paytm is not the only Indian startup backed by Softbank which went to Japan. Ritesh Agarwal’s OYO where Softbank is a key investor, entered the Japanese market, thanks to its famous backer. In April 2019, OYO announced its partnership with SoftBank Corp and SoftBank Vision fund to launch Oyo Hotels Japan.<br />

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