Berkshire Hathaway Sells 2.46% Share In Paytm For Rs 1,371 Crore At A Loss Of 31% Per Piece

The shares were sold at an average price of Rs 877.29 per piece, taking the overall transaction value to Rs 1,370.63 crore, as per the data available on the NSE.

On the other hand, Copthall Mauritius Investment acquired 75,75,529 shares in Paytm on Friday, along with Ghisallo Master Fund LP, which picked up 42.75 lakh shares of the firm, accounting for a 1.19 per cent and 0.67 per cent share.

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Berkshire Hathaway Inc sold its stake in Paytm via an open market transaction on Friday. The Warren Buffet-owned conglomerate sold its 2.46 per cent share in the fintech company for Rs 1,371 crore via the transaction at a loss of about 31 per cent per share. 

The conglomerate earlier acquired a 2.6 per cent stake in Paytm for Rs 1,279.7 per share at an aggregate value of Rs 2,179 crore during its IPO, an official document revealed. The shares were sold at an average price of Rs 877.29 per piece, taking the overall transaction value to Rs 1,370.63 crore, as per the data available on the NSE. The American firm bore a loss of 31 per cent per share, reported PTI. 

Official data available with the NSE revealed that Berkshire Hathaway via its affiliate BH International Holdings sold off 1.56 crore shares of Paytm parent company, One97 Communications, on the exchange. The firm sold shares worth Rs 301 crore in the IPO, while the remaining shares sold by Berkshire attracted a loss of over Rs 620 crore, reported Bloomberg Prime.

On the other hand, Copthall Mauritius Investment acquired 75,75,529 shares in the fintech on Friday, along with Ghisallo Master Fund LP, which picked up 42.75 lakh shares of the firm, accounting for a 1.19 per cent and 0.67 per cent share in Paytm respectively. The shares were bought at an average price of Rs 877.20 per piece, while the overall deal value stood at Rs 1,039.52 crore. 

Earlier in October, One97 Communications posted a narrowing of its consolidated loss to Rs 291.7 crore in the second quarter of the current financial year, against the loss of Rs 571.5 crore posted in the corresponding quarter a year earlier. 

The consolidated revenue for the firm increased nearly 32 per cent to Rs 2,518.6 crore during the reporting period from Rs 1,914 crore on a year-on-year (YoY) basis.