Paytm Shares Surge 8%, Market Cap Jumps Rs 2,279 Cr

New Delhi, Jul 8 (PTI) Shares of One97 Communications Ltd, the parent firm of Paytm, soared over 8 per cent on Monday, adding Rs 2,279.88 crore to its market capitalisation after Vijay Shekhar Sharma said his ambition is to build a USD 100-billion company.

The stock jumped 8.12 per cent to settle at Rs 472.05 on the BSE. During the day, it zoomed 9.87 per cent to Rs 479.70.

At the NSE, it climbed 8.33 per cent to Rs 472.95.

The company's market valuation increased by Rs 2,279.88 crore to Rs 30,022.04 crore on the BSE.

Paytm founder Vijay Shekhar Sharma on Saturday spoke about his learnings from the RBI action on Paytm Payments Bank, admitting that it was an emotional setback at a personal level, while professionally it was a lesson learnt about fulfilling responsibilities better.

Without mincing words, Sharma said, "At a professional level, I would say we should have done better, there are no secrets about it, we had responsibilities, and we should have fulfilled much better".

Speaking at the 7th JIIF Foundation Day, Sharma was asked about the Reserve Bank of India's (RBI's) action on Paytm Payments Bank and how it impacted him as a founder who had painstakingly built his company.

Sharma said individually it was an emotional setback, and that professionally "obviously we learnt a lesson, and we are much better..."

On Saturday, Sharma addressed questions about his dreams and ambitions, and his highs and lows.

Sharma said that his ambition is to build a USD 100-billion company, and added that he wants the Paytm brand to be recognised globally, as an Indian company.

Asked how he felt after the erosion in the share price of One97 Communications post its listing, Sharma said his focus was and is always on the company's fundamentals and business dynamics.