Private Equity

Liquidity Events

Berkshire Hathaway sells remaining 2.46% in Paytm for Rs 1,371-Cr

Business Standard  

BH International Holdings, a unit of Warren Buffet's Berkshire Hathaway, has sold its remaining 2.46% stake (15.62 million shares) in One 97 Communications, the parent company of Paytm, for INR 1,371 crore at INR 877.3 apiece. Copthall Mauritius Investment picked up 7.57 million shares (1.19 %) and Ghisallo Master Fund LP acquired 4.2 million shares (0.67 %) in Paytm. BH International had also sold INR 302 crore worth of shares during Paytm's IPO in November 2021, in which shares were priced at INR 2,150 apiece. Berkshire has incurred a loss of about INR 507 crore on the deal. The average cost of acquisition for BH International was INR 1,279.7 per share. It had bought shares worth INR 2,179 crore in September 2018. Berkshire's exit comes after a string of exits from Paytm, including stake-cuts by Japanese conglomerate SoftBank Group and the exit of China's Alibaba Group.