NEW DELHI: Billionaire Warren Buffett-backed Berkshire Hathaway on Friday divested its entire 2.46% stake in Paytm’s parent company One97 Communications for Rs 1,371 crore through an open market transaction. Berkshire Hathaway, through its affiliate BH International Holdings, sold more than 1.56 crore shares of fintech company Paytm on the NSE.
The shares were disposed of at an average price of Rs 877 apiece, taking the transaction value to Rs 1,371 crore.
Copthall Mauritius Investment picked up about 75.8 lakh shares and Ghisallo Master Fund acquired 42.8 lakh shares, amounting to roughly a 1.2% and 0.7% stake in Paytm, respectively. The shares were purchased at an average price of Rs 877 apiece, taking the aggregate deal value to Rs 1,040 crore. Details of the other buyers could not be ascertained.
Shares of One97 Communications declined around 3% 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 Rs 292 crore in the second quarter of the current fiscal. The company had posted a loss of Rs 572 crore in the year-ago period.
The consolidated revenue from operations of the company increased about 32% to Rs 2,519 crore during the quarter from Rs 1,914 crore a year ago. agencies
The shares were disposed of at an average price of Rs 877 apiece, taking the transaction value to Rs 1,371 crore.
Copthall Mauritius Investment picked up about 75.8 lakh shares and Ghisallo Master Fund acquired 42.8 lakh shares, amounting to roughly a 1.2% and 0.7% stake in Paytm, respectively. The shares were purchased at an average price of Rs 877 apiece, taking the aggregate deal value to Rs 1,040 crore. Details of the other buyers could not be ascertained.
Shares of One97 Communications declined around 3% 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 Rs 292 crore in the second quarter of the current fiscal. The company had posted a loss of Rs 572 crore in the year-ago period.
The consolidated revenue from operations of the company increased about 32% to Rs 2,519 crore during the quarter from Rs 1,914 crore a year ago. agencies
