Meet Warren Buffett’s New Business Partner: India’s Youngest Billionaire

Billionaire investor Warren Buffett may soon have his first business partner in India. His conglomerate, Berkshire Hathaway, will reportedly invest between $314 million and $357 million (22 billion to 25 billion rupees) for a 3% to 4% stake in One97 Communications, the parent company of Paytm, a digital payments firm.

According to the indian news paper mint, which first reported the news, the deal would likely value One97 at $10 billion to $12 billion. The company most recently raised money at a $7 billion in 2017, following an investment from Japanese conglomerate SoftBank. India’s youngest billionaire, Vijay Shekhar Sharma, owns 16% of One97. Forbes estimates his net worth at $1.7 billion, based on the earlier valuation. Read More

Source : forbes

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2018-12-29T14:50:11+05:30August 28th, 2018|Categories: Banking & Finance, Cross Border, FIAKS daily, Finance, Fintech & Technology, Paytm|Tags: |0 Comments

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