Paytm shares slip after Berkshire Hathaway affiliate pulls the plug on Indian fintech firm
Billionaire Warren Buffet-backed Berkshire Hathaway Inc on Friday divested its entire 2.46 per cent stake in Paytms parent company One97 Communications for Rs 1,371 crore through an open market transaction.
Paytm Share Price: Shares of One 97 Communications Ltd, the parent company of Paytm, were off to a poor start on BSE on Tuesday in the first trading session after Berkshire Hathaway's unit, BH International Holdings, sold all its stake in the Indian online payment company.
The One 97 Communications stock was trading down by 0.41 per cent, or Rs 4.65, at Rs 883.35 at 10:54 am on Tuesday.
What is Berkshire-Paytm divestment deal
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 Rs 1,371 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.
Warren Buffett's loss
There was a decline of around Rs 500 crore in PayTM.
Suffered a loss of about 23 per cent on PayTM investment.
Warren Buffett's investment company BH Investment sold 1.56 crore shares in PayTM.
Total Rs 1,370 crore, shares sold at Rs 877.
History
In 2018, about 17 lakh shares were issued to BH Investment at a price of Rs 1280
BH Investment's total investment was Rs 2,180 crore
Stock increased by 1.7 crore after stock split in 2021
BH Investment bought 14 lakh shares in IPO at a price of Rs 2,150 per share
Got Rs 300 crore by selling shares in IPO
BH Investment gets Rs 1,670 crore from IPO and current sale
Berkshire Hathaway Financials
Berkshire Hathaway suffered a loss of $13 billion in the last quarter
The value of the company's total investment decreased from $353 billion to $341 billion.
The company has about $157.2 billion cash
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