The stock god also lost to India! Berkshire clears Indian mobile payment giant Paytm
德行天下853
发表于 2023-11-25 18:02:58
1274
0
0
On Friday local time, Warren Buffett's Berkshire Hathaway cleared all of its shares in Paytm India through bulk trading. According to statistics, after holding a position for five years, this transaction caused nearly 40% of Berkshire's losses.
In 2018, Buffett's subsidiary invested approximately $260 million in Paytm and acquired a 3% stake in this financial services startup at a valuation of approximately $10 billion.
Paytm, known by the market as "Alipay" in India, was founded in 2010 and is the largest payment platform in India. At present, it has more than 300 million registered users, equivalent to half of the number of Internet users in India. The number of merchants on the platform exceeds 20 million. At present, Paytm has developed into a comprehensive financial service platform that covers digital payments, insurance, credit and other businesses.
According to data from local stock exchanges in India, during Paytm's IPO in 2021, Berkshire took the opportunity to sell 1.4 million shares (worth $36 million) of stock.
On Friday, Berkshire sold over 15.6 million shares of the digital payment company's stock at a weighted average price of 877.29 rupees per share, valued at approximately $121.6 million. That is to say, Berkshire's $260 million investment in Paytm ultimately resulted in a return of less than $160 million.
Paytm was Berkshire Hathaway's first direct venture capital investment in India and was widely welcomed by Indian venture capital firms at the time. In addition, SoftBank Group of Japan and Chinese technology giant Alibaba were both early investors in Paytm.
However, since Paytm went public, the stock price has plummeted all the way, and after more than a year of rebound, it is still in a burst state.
Before Berkshire recognized its losses and was eliminated, SoftBank and Alibaba sold off the company's stocks significantly, which can be said that these giants have all crashed into the Indian market.
In September this year, Paytm CEO Vijay Shekhar Sharma expressed his willingness to increase his stake in Paytm. A few weeks ago, he purchased shares of Paytm from Ant Group and became the largest single shareholder of Paytm.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Sudden change in India! Foreign investors fiercely sell Indian stocks, exchange rate plummets
- High energy ahead! The "Seven Giants" of the US stock market are about to announce their financial reports, and the shocking data is coming
- What has happened to the recent consecutive sharp decline in the Indian stock market?
- AI chip giant NVIDIA's market value exceeds Apple's, TSMC previously stated that AI demand is' just beginning '
- Chip giant TSMC faces unexpected changes! What happened?
- Tesla FSD Big News: Billion Dollar Automotive Giant Shocking!
- Suddenly changed! Big news from chip giants! Samsung Electronics' stock price rises
- AI giant, big news! I may be delisted next week! I may be delisted next week!
- The latest holdings of leading global asset management giants in Chinese concept stocks have been exposed
- 80 billion Shanghai data giant raises 12 billion to expand data center
-
知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
- caffycat
- 昨天 11:18
- 支持
- 反对
- 回复
- 收藏
-
每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
- star8699
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
- goodfriendboy
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
人民网北京11月22日电 (记者栗翘楚、任妍)2024广州车展,在新能源汽车占据“半壁江山”的同时,正加速向智能网联新能源汽车全面过渡,随着“端到端”成为新宠,智能驾驶解决方案成为本届广州车展各大车企竞 ...
- 3233340
- 昨天 17:06
- 支持
- 反对
- 回复
- 收藏