Warren Buffett’s Berkshire Hathaway has sold its entire 2.5% stake in Paytm’s parent company One 97 Communications Ltd. Warren Buffett has suffered a loss of Rs 807 crore on investment in Paytm.
Berkshire Hathaway sold its stake in the open market for about Rs 1,371 crore and with this it has completely exited the company.
After five years of investment, Berkshire Hathaway sold 1.56 crore shares (2.5% stake) at Rs 877.29 per share.
Who bought the stake?
Those buying stake in Berkshire Hathaway include foreign investors Copthall Mauritius Investment Ltd. and Ghisallo Master Fund.
Copthol Mauritius Investment bought 7.57 lakh shares, equivalent to 1.19% stake, while Ghisallo Master Fund bought 4.27 lakh shares, equivalent to 0.67% stake. Both the investor firms bought shares at Rs 877.29 per share.
Shares of One 97 Communications closed 3.08% lower at Rs 895 on the NSE, while the benchmark Nifty 50 fell 0.04% on Friday.
