The value of Paytm founder Vijay Shekhar Sharma’s stake in the company has fallen to less than $1 billion after the share price dropped to a new low.
Shares of One 97 Communications, the parent company of Paytm, declined 2.77 percent to a record low of Rs 840.05 on the BSE on February 15.
The value of Sharma’s shares have eroded by over $1.5 billion since listing about three months ago. Sharma lost an average of about Rs 128 crore of stake value every day since listing.
Sharma’s stake in Paytm is currently valued at $998 million, down about $1.59 billion since listing. According to the Forbes billionaire list, Sharma’s wealth is currently at $1.3 billion.