A smartphone with the Paytm logo is placed on a laptop in this illustration taken
Credit: Reuters Photo
American multinational firm Berkshire Hathaway's unit BH International Holdings, led by billionaire Warren Buffer, has sold its entire stake in domestic fintech firm Paytm’s parent company One 97 Communications, which it had acquired in 2018, as per National Stock Exchange data. The company had held a 2.46 per cent stake, or 1,56,23,529 shares, in Paytm, which it sold at an average price of Rs 877 per share and the entire deal was worth nearly Rs 1,371 crore.
In September 2018, the company had acquired shares in Paytm at an average price of Rs 1,279 per share, and the whole deal was worth Rs 2,179 crore. BH’s offloaded stock was picked up by Ghisallo Master Fund and Copthall Mauritius Investment, who bought 42,75,000 and 75,75,529 shares, respectively.
Paytm was trading at Rs 893 at press time, down 3.23 per cent in the previous day owing to the block deal buzz. However, on a year-on-year basis, the stock has rallied 103 per cent from its 52-week low price of Rs 439.60 noted on November 24 last year.