Home Technology Warren Buffett’s Berkshire Hathaway exits Paytm at a 40% loss

Warren Buffett’s Berkshire Hathaway exits Paytm at a 40% loss

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Warren Buffett’s Berkshire Hathaway exits Paytm at a 40% loss

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Berkshire Hathaway bought its shares within the Paytm-parent agency One97 Communications Friday, reserving a lack of about 40% on the funding it made greater than 5 years in the past.

The Warren Buffett agency invested about $260 million in Paytm in 2018, buying a 3% stake within the monetary providers startup at a valuation of about $10 billion.

The funding big — which bought a stake value $36 million in Paytm in 2021, at a revenue — bought its the rest place on Friday for $121.6 million, based on disclosure by the native Indian inventory trade. Berkshire secured a return of $157 million on its ~$260 million funding in Paytm.

Paytm was Berkshire Hathaway’s first direct startup funding in India.

Shares of Paytm, which made its IPO debut in 2021 at $25.8 apiece, fell to as little as $5.58 a yr in the past. The Indian agency has since rebounded, ending Friday at $10.73 apiece following quick income progress and bettering funds in latest quarters.

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