Berkshire Hathaway Sells 2.46% Stake In Paytm For ₹1,371 Cr; Incurs 31% Loss Per Share

Berkshire Hathaway Sells 2.46% Stake In Paytm For ₹1,371 Cr; Incurs 31% Loss Per Share

The company had acquired 2.6 per cent stake in Paytm for Rs 1,279.7 per share at an aggregate value of Rs 2,179 crore, as per an official document.

PTIUpdated: Saturday, November 25, 2023, 11:38 AM IST
article-image
Berkshire Hathaway Sells 2.46% Stake In Paytm For ₹1,371 Cr; Incurs 31% Loss Per Share | Image: Wikipedia (Representative)

Billionaire Warren Buffet's Berkshire Hathaway Inc has sold its entire 2.46 per cent stake in Paytm for Rs 1,371 crore through an open market transaction at a loss of about 31 per cent per share.

The company had acquired 2.6 per cent stake in Paytm for Rs 1,279.7 per share at an aggregate value of Rs 2,179 crore, as per an official document.

The shares were disposed of on Friday at an average price of Rs 877.29 apiece, taking the transaction value to Rs 1,370.63 crore, according the data available on the NSE.

A comparison of the purchase and sale price of the shares show a loss of 31 per cent apiece.

Berkshire Hathaway Inc through its affiliate BH International Holdings sold more than 1.56 crore shares of fintech Paytm's parent One97 Communications 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, or 2.46 per cent stake, in Noida-based Paytm.

At the end of the September quarter, BH International Holdings held 2.46 per cent stake in Paytm, shareholding data available with the BSE showed.

It could not be immediately ascertained when the entity had offloaded the 0.14 per cent stake.

Meanwhile, on Friday, 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 Rs 877.20 per piece, taking the aggregate deal value to Rs 1,039.52 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 Rs 291.7 crore in the second quarter of the current fiscal.

The company had posted a loss of Rs 571.5 crore in the year-ago period.

The consolidated revenue from operations of the company increased about 32 per cent to Rs 2,518.6 crore during the quarter from Rs 1,914 crore a year ago. P

RECENT STORIES

Earnings March 2024: Anand Rathi Wealth Sees a 33% Jump In Its Profit

Earnings March 2024: Anand Rathi Wealth Sees a 33% Jump In Its Profit

Commercial AC Market Has Significant Growth Potential, Says President Of Appliance Makers' Body

Commercial AC Market Has Significant Growth Potential, Says President Of Appliance Makers' Body

Affordability In Peril? Share of Affordable Homes, Priced Up To ₹45 Lakh, Shrinks In Jan-Mar:...

Affordability In Peril? Share of Affordable Homes, Priced Up To ₹45 Lakh, Shrinks In Jan-Mar:...

Tech Earnings: After TCS, Infosys And Wipro To Release Results

Tech Earnings: After TCS, Infosys And Wipro To Release Results

Automobile Exports From India Dip 5.5% In FY24

Automobile Exports From India Dip 5.5% In FY24