Paytm’s downfall is painful, and Vijay Shekhar Sharma is no longer a billionaire.

Sharma’s net worth is $999 million, down from $2.35 billion when the fintech listed on November 18, 2021, according to Forbes. Sharma has been losing roughly Rs 88 crore each day since then.

According to Forbes data from March 16, Paytm founder Vijay Shekhar Sharma is no longer a billionaire, with the share price of one of India’s most legendary businesses plunging more than 70% from its issue price of Rs 2,150 in the last four months.

The sharp dip reflects the volatility that the Noida-based company has been experiencing. The Reserve Bank of India (RBI) recently prohibited Paytm Payments Bank from onboarding new users.

Sharma’s net worth has dropped to $999 million from a peak of $2.35 billion before to the IPO filing, according to Forbes. Paytm’s parent company, One97 Communications Ltd, went public on November 18, 2021. Sharma has been losing roughly Rs 88 crore each day since that day.

The initial public offering raised Rs 18,300 crore for the company. It was valued at Rs 1.39 trillion on November 18, making it one of India’s top 50 most valuable enterprises.

However, it has been all downhill since then. The company’s market capitalization has dropped by about Rs 1 trillion, to Rs 4,0000 crore. On the list of most valuable corporations, the company is now ranked 112th.

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