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India is in an exciting phase of growth and the economy is expected to add $2.5 trillion in the next 5-10 years, Paytm founder and CEO Vijay Shekhar Sharma said while speaking at a 2-day virtual youth conclave organised by IMC Chambers of Commerce and Industry on Saturday.
“If this country’s economy is $2.5 trillion today. In the next 5-10 years, you will see another $2.5 trillion. It took 70 years for us to make it $2.5 trillion … Now only in 10 years all that history will be recreated and doubled. It’s an amazing, inspiring moment for us to be in India and lucky to be in India,” Sharma said.
“When somebody makes you feel that you’re solo.. that’s just the way you handle the adversity. And once you are a success, all these adversities will become the folklores, so you should never feel bad about it,” he added.
Paytm has filed a draft red herring prospectus (DRHP) with the market regulator for its proposed Rs 16,600 crore initial public offering (IPO). The document showed that the company is aiming to raise Rs 8,300 crore through fresh equity and another Rs 8,300 crore through offer-for-sale. This will be the country’s largest-ever initial share sale. At present, the record is held by state-owned Coal India, which raised Rs 15,000 crore in 2010.