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The valuation of Paytm's parent company, One97 Communications, reportedly broke the one million rupee mark on the unofficial market, according to a report in The Economic Times. One97 shares were valued at 18,200 rupees this week, up 60% since Warren Buffett's Berkshire Hathaway acquired a stake in the company. Six months ago, the report indicates that One97 Communications is currently valued at 1,100,975 crore, a capital released of 55.32 crores of rupees.
"The shares of One97 Communications went from 11,000 to 18,000 rand in just six months after Berkshire Hathaway's investment," ARMS Securities director Sambhav Aggarwal said.
The value of the unlisted company exceeded the market capitalization of publicly traded bigwigs such as Mahindra & Mahindra, Induslnd Bank, Titan, Bajaj Finserv, Godrej Consumer and HDFC Standard Life Insurance.
In September, One97 accepted investment from the company headed by Warren Buffet in exchange for 1,702,713 fully paid shares of Paytm.
"The stock price of Paytm's parent company only surged after Berkshire Hatha took ownership of the company. He is currently trading between 18,000 and 18,200 rupees, "said Narottam Dharawat, a Mumbai-based broker who trades unlisted shares.
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