Warren Buffet to pick up stack in Paytm
Berkshire Hathaway is in talks with One97 Communications Ltd to pick up the stock stack in Paytm.
Currently Paytm is having big investors like Japan’s SoftBank Group, China’s Alibaba Group and Ant Financial, SAIF Partners and MediaTek.
Paytm is doing annualized gross sales of $10 billion via its Paytm mall entity & payment bank is doing all rounds for other reasons. Right now company having trouble with Payment bank with RBI guidelines.
During demonetization Paytm grown as the market leader & never looked back & now 3rd market place in India’s e-commerce market place. Paytm might be looking for around 300 million $ investment from Berkshire Hathaway via stock sell & if all the rumors true it will inversely finish in a 2-3 week period.
Paytm is also team up with Alphabet Google to take Kishore Biyani led Future retail‘s stake sell & may be the front-runner for the race.
Paytm is having huge cash support from investors, doing all business ties in right directions. It has recently tied up with Alibaba for cloud business. The company is also going to offer Mutual fund investment service to it’s paytm money service. Paytm also increased investment in Gamepind -a platform for mobile game owned by Paytm.
Paytm also acquired a new startup called “balance tech” for a smart investment .