Warren Buffet’s Berkshire exits Paytm at ₹620 crore loss, sells 2.5% stake

Billionaire businessman Warren Buffet’s company Berkshire Hathaway has sold its entire stake in digital payment company Paytm.

The global firm ended up selling 2.46 percent stake in Paytm’s parent company One97 Communications at a hefty loss.

Berkshire Hathaway sold its stake in Paytm through its affiliate company BH International Holdings. Over 1.56 crore shares of the fintech firm Paytm were sold on the National Stock Exchange (NSE) at a loss of ₹620 crore.

The company had acquired 2.6 per cent stake in Paytm for ₹1,279.7 per share at an aggregate value of ₹2,179 crore, as per an official document. The shares were disposed of on Friday at an average price of ₹877.29 apiece, taking the transaction value to ₹1,370.63 crore, according the data available on the NSE.

While 2.46 percent out of the total 2.6 has been unloaded by Warren Buffet’s multi-billion dollar firm, it is not yet ascertained when the entity had offloaded the 0.14 per cent stake.