NEW DELHI: Billionaire Warren Buffett-backed Berkshire Hathaway on Friday divested its whole 2.46% stake in Paytm’s father or mother firm One97 Communications for Rs 1,371 crore by an open market transaction. Berkshire Hathaway, by its affiliate BH International Holdings, bought greater than 1.56 crore shares of fintech firm Paytm on the NSE.
The shares have been disposed of at a median value of Rs 877 apiece, taking the transaction worth 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 have been bought at a median value of Rs 877 apiece, taking the combination deal worth to Rs 1,040 crore. Details of the opposite consumers couldn’t be ascertained.
Read from ET: Warren Buffett’s Berkshire books Rs 630-crore loss after holding Paytm shares for 5 years
Shares of One97 Communications declined round 3% to shut at Rs 895 apiece on the NSE on Friday.
In October, Fintech firm One97 Communications, which operates underneath the Paytm model, reported the narrowing of consolidated loss to Rs 292 crore within the second quarter of the present fiscal. The firm had posted a lack of Rs 572 crore within the year-ago interval.
The consolidated income from operations of the corporate elevated about 32% to Rs 2,519 crore throughout the quarter from Rs 1,914 crore a 12 months in the past.
The shares have been disposed of at a median value of Rs 877 apiece, taking the transaction worth 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 have been bought at a median value of Rs 877 apiece, taking the combination deal worth to Rs 1,040 crore. Details of the opposite consumers couldn’t be ascertained.
Read from ET: Warren Buffett’s Berkshire books Rs 630-crore loss after holding Paytm shares for 5 years
Shares of One97 Communications declined round 3% to shut at Rs 895 apiece on the NSE on Friday.
In October, Fintech firm One97 Communications, which operates underneath the Paytm model, reported the narrowing of consolidated loss to Rs 292 crore within the second quarter of the present fiscal. The firm had posted a lack of Rs 572 crore within the year-ago interval.
The consolidated income from operations of the corporate elevated about 32% to Rs 2,519 crore throughout the quarter from Rs 1,914 crore a 12 months in the past.
