Berkshire Hathaway sells 2.46% stake of Paytm for Rs1,371 cr
The shares were disposed of at an average price of Rs877.29 apiece, taking the transaction value to Rs1,370.63 cr
New Delhi: Billionaire Warren Buffet-backed Berkshire Hathaway Inc on Friday divested its entire 2.46 per cent stake in Paytm's parent company One97 Communications for Rs1,371 crore through an open market transaction. Berkshire Hathaway Inc through its affiliate BH International Holdings sold more than 1.56 crore shares of fintech company Paytm on the National Stock Exchange (NSE).
According to the bulk deal data available with the NSE, BH International Holdings offloaded 1,56,23,529 shares, amounting to a 2.46 per cent stake in Noida-headquartered Paytm. The shares were disposed of at an average price of Rs877.29 apiece, taking the transaction value to Rs1,370.63 crore.
Meanwhile, Copthall Mauritius Investment picked up 75,75,529 shares and Ghisallo Master Fund LP acquired 42.75 lakh shares, amounting to a 1.19 per cent and 0.67 per cent stake in Paytm, respectively. The shares were purchased at an average price of Rs877.20 per piece, taking the aggregate deal value to Rs1,039.52 crore. Details of the other buyers could not be ascertained.
Shares of One97 Communications declined 3.08 per cent to close at Rs 895 apiece on the NSE on Friday. In October, Fintech company One97 Communications, which operates under the Paytm brand, reported the narrowing of consolidated loss to Rs291.7 crore in the second quarter of the current fiscal. The company had posted a loss of Rs571.5 crore in the year-ago period. The consolidated revenue from operations of the company increased about 32 per cent to Rs2,518.6 crore during the quarter from Rs 1,914 crore a year ago.
