Berkshire Hathaway, Warren Buffett's firm, sells entire 2.46% stake in Paytm

Berkshire Hathaway, owned by Warren Buffett, has divested its complete 2.46% stake in Paytm's parent company, One97 Communications Ltd. The sale, conducted in a large block deal, saw BH International Holdings selling over 1.56 crore shares, worth ₹1,370.63 crore at an average price of ₹877.29 per share.

During the sale, Copthall Mauritius Investment acquired 1.19% and Ghisallo Master Fund LP gained a 0.67% stake in Paytm. Buffett initially acquired a 2.6% stake in Paytm in 2018, investing around ₹2,200 crore, valuing the fintech giant at $10–12 billion.

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Paytm reported a 32% year-on-year revenue increase, reaching ₹2,518.6 crore in the July-September quarter of fiscal year 2023-24. Despite this, the company's net loss narrowed to ₹290.05 crore during the same period.

Founded by Vijay Shekhar Sharma in 2000, One97 has evolved from a mobile payments and recharge business to a leading consumer internet company in India. Paytm's shares, however, saw a 3.23% dip, closing at ₹893 apiece on the BSE after opening at ₹922.75 and touching an intraday low of ₹880.