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Warren Buffett's Berkshire Hathaway closes $300-million investment in Paytm

The Indian digital payments firm will be valued at $10 billion following the transaction

Berkshire Hathaway CEO  Warren Buffet
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Berkshire Hathaway CEO Warren Buffet

Alnoor Peermohamed Bengaluru
One97 Communications, the parent entity of India’s largest digital payments firm, Paytm, has received $300 million (Rs 21.79 billion) in fresh funding from Berkshire Hathaway Inc. The deal is the Warren Buffett-led firm’s first investment in the country.

According to regulatory filings sourced from Paper.vc, One97 Communications issued 1.7 million shares to BH International Holdings on September 27. Post the investment, Berkshire Hathaway will have around 2.9 per cent holding in the Indian firm.

Paytm’s value post the investment will stand at Rs 731 billion ($10 billion).

Earlier this month, Berkshire Hathaway had confirmed it was investing in Paytm, but

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First Published: Sep 27 2018 | 6:40 PM IST

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