Founder and Chief Executive Officer from One 97 Communications Ltd.
Compare the company to Tesla Inc.
– and with parallel extensions between themselves and Elon Musk – after the Indian payment startup experienced a brutal first day of transposition after the initial public offering.
Vijay Shekhar Sharma held a four-hour town hall to gather employees who had witnessed the shares of a 14% smoking company on Thursday, according to those who were present.
The 43-year-old player encouraged them to see the past tripping and to focus on long-term opportunities to bring digital payments to the fast growing internet population in the country.
One 97 communication is a parent company for paytm services.
Sharma, who had tweeted about his admiration for the Musk and his purchase of Tesla’s vehicle, reminded employees that the stock of electric vehicle makers was once the shortest in the world.
But the company overcomes many years of the struggle to become one of the best known brands globally, he said, and the most valuable car makers in the world.
The company’s shares fell again on Monday, the first trade day after a three-day vacation weekend.
Stocks fell 17% again on Monday, leaving it around 40% under the IPO that offered a price of 2,150 rupees.
In July 2020, when Tesla followed the Toyota Motor Corp to become the most valuable car maker in the world, Sharma praised the founder.
“After so many opponents and people trying to pull @elonmusk, he has proven what he made!” Sharma said in that tweet, signing Hindi Aforism: “One day, my time will come.” Tesla’s shares actually rose 41% the first day after the IPO in 2010.
They then fell to less than $ 4 each and since then soared to provide a market value company of more than $ 1 trillion.