New Delhi: Warren Buffett’s Berkshire Hathaway has made a significant move, selling its entire stake in Paytm’s parent company, One97 Communications, in a blockbuster deal. The transaction involved the sale of over 1.56 crore shares, comprising 2.5% of Paytm, with a total value of ₹1,370.63 crore at an average price of ₹877.29 per share.
Intriguingly, Copthall Mauritius Investment and Ghisallo Master Fund LP seized the opportunity, acquiring substantial stakes in Paytm. Buffett initially invested in Paytm in 2018, holding a 2.6% stake valued at ₹2,200 crore, placing the fintech giant’s worth at $10–12 billion.
Paytm, a leader in the fintech space, reported an impressive 32% YoY revenue increase to ₹2518.6 crore in Q2FY24. The company, founded by Vijay Shekhar Sharma in 2000, has evolved from a mobile payments business to one of India’s top three consumer internet companies. Paytm’s innovative payment solutions, including the Paytm wallet and Paytm Payments Bank, continue to reshape the digital transaction landscape.
Despite this development, Paytm’s shares faced a brief dip, opening at ₹922.75 and reaching an intraday low of ₹880 before settling at ₹893 apiece on the BSE.
About Berkshire Hathaway:
Berkshire Hathaway, the multinational giant recognized for its ownership of iconic brands like GEICO and Dairy Queen, has consistently demonstrated growth in revenue and value. With Warren Buffett’s succession plan in place, where Greg Abel is set to take the reins, Berkshire Hathaway remains a powerhouse in the business world.
