November 25th 2023.
Billionaire Warren Buffet's Berkshire Hathaway Inc recently sold its entire 2.46 per cent stake in fintech company Paytm for Rs 1,371 crore through an open market transaction. 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. The sale was made at an average price of Rs 877.29 a piece, resulting in a 31 per cent loss per share.
On the National Stock Exchange, BH International Holdings offloaded 1,56,23,529 shares amounting to 2.46 per cent stake. At the end of the September quarter, BH International Holdings held 2.46 per cent stake in Paytm.
Other buyers, such as Copthall Mauritius Investment and Ghisallo Master Fund LP, purchased 75,75,529 and 42.75 lakh shares amounting to 1.19 per cent and 0.67 per cent stake respectively. They were purchased at an average price of Rs 877.20 per piece, taking the aggregate deal value to Rs 1,039.52 crore.
On the same day, shares of One97 Communications, Paytm's parent, declined 3.08 per cent to close at Rs 895 apiece on the NSE. According to Paytm's financial report, the company reported a narrowing of consolidated loss to Rs 291.7 crore in the second quarter of the current fiscal. Consolidated revenue from operations increased about 32 per cent to Rs 2,518.6 crore during the quarter from Rs 1,914 crore a year ago.
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