Billionaire Warren Buffett's Berkshire Hathaway Inc sold its entire 2.46 per cent stake in Paytm for Rs 1,371 crore at a loss of about 31 per cent per share through an open market transaction.
Banking & Finance
Billionaire Warren Buffett's Berkshire Hathaway Inc sold its entire 2.46 per cent stake in Paytm for Rs 1,371 crore at a loss of about 31 per cent per share through an open market transaction. According to an official document, the company had acquired 2.6 per cent stake in Paytm at Rs 1,279.7 per share for a total consideration of Rs 2,179 crore. Berkshire Hathaway Inc, through its affiliate BH International Holdings, sold over 1.56 crore shares of fintech Paytm's parent company One97 Communications on the National Stock Exchange (NSE). According to bulk deal data available with NSE, BH International Holdings sold 1,56,23,529 shares or 2.46 per cent stake in Noida-based Paytm. The company had incurred a loss of Rs 571.5 crore in the same period a year ago. The company's consolidated revenue from operations during the quarter increased by nearly 32 per cent to Rs 2,518.6 crore, from Rs 1,914 crore a year ago.
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