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Paytm parent One97 clinches Rs 1 lakh crore in m-cap post Buffett’s Berkshire investment

The market capitalisation of One97 Communications, the parent company of Noida-headquartered mobile wallet firm Paytm, has breached Rs 1 lakh crore following the $300 million investment made by Warren Buffett-led Berkshire Hathaway. The value of Vijay Shekhar Sharma-founded One97 Communications has crossed Rs 1 lakh crore in the unofficial market, ET reported citing unidentified brokers dealing with the unlisted shares. According to the report, the unlisted shares of One97 Communications have surged about 60 per cent in the period of last six months.

“Shares of One97 Communications have jumped from Rs 11,000 to Rs 18,000 in just six months after Warren Buffett’s firm invested,” ET reported citing Sambhav Aggarwal, Director of New Delhi-based firm ARMS Securities dealing in unlisted shares. “The share price of Paytm’s parent company jumped only after Berkshire Hathaway bought stake in the company,” Narottam Dharawat, a Mumbai-based stock market broker who deals in unlisted shares, was quoted in the ET report.

With a market capitalisation of over Rs 1 lakh crore, One97 Communications is now bigger than Yes Bank (India’s fourth-largest private bank by assets), IndusInd Bank (India’s sixth-largest private bank by assets), Vodafone Idea (India’s largest telecom player by market share), Tech Mahindra (India’s fifth-largest IT company), Hero MotoCorp (India’s largest two-wheeler maker), Interglobe Aviation (India’s largest airline company) and Motherson Sumi Systems (India’s largest auto ancillary firm).

Other major companies which have lesser market capitalisation than One97 Communications include M&M, Eicher Motors, Bajaj Auto, Bajaj Finserv, Avenue Supermarts, Titan Company, HDFC Standard Life, SBI Life Insurance, Britannia Industries, Dabur India, BPCL, HPCL, Tata Steel, Tata Motors, Bharti Infratel, Zee Entertainment Enterprises, United Spirits, Havells India, Ashok Leyland and DLF.

Earlier in September this year, Warren Buffett’s Berkshire Hathaway picked up a $356 million (nearly Rs 25 billion) stake in One97 Communications. Reportedly, One97 Communications has issued about 1.7 million shares to BH International Holdings. Following the deal, Berkshire Hathaway holds nearly 2.9 per cent stake in One97 Communications.

Sandip Ginodia , Director 
ALTIUS INVESTECH PVT LTD | ABHISHEK SECURITIES

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