Billionaire Warren Buffet-backed Berkshire Hathaway Inc on Friday, November 24, 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 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% stake in Noida-headquartered Paytm. The shares were disposed of at an average price of Rs 877.29 apiece, taking the transaction value to Rs 1,370.63 crore. Meanwhile, Copthall Mauritius Investment picked up 75,75,529 shares and Ghisallo Master Fund LP acquired 42.75 lakh shares, amounting to a 1.19% and 0.67% 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% 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.