Warren Buffett's Berkshire Hathaway is entering a $1 trillion market in India

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Warren Buffett set to pick up stake in Paytm

One97 also owns 49 per cent stake in Paytm Payments Bank. This is going to be the first investment of Buffett in an Indian company. ($300-350 million). This can buy him 3-4% stake in the company.

ET had also reported that the investment is being led by Todd Combs, one of the fund managers at Berkshire who is a contender for the CIO position at the firm.

The report cites two person familiar with the development who said the deal is likely to close in next few weeks and will value the payments entity at around Rs. 2,000- Rs. 2500 crore.

However, it is the prestige which is involved here, which makes it a massive moment for both Paytm and Indian startup eco-system.

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And this brings us to interesting fact #2. Buffett paid $150,000 for the beach house in the early 1970s, meaning that even with the lower price, he would be making an over 5,100% return on his investment.

Berkshire Hathaway is a roughly $500 billion conglomerate and has more than 90 operating units including the BNSF railroad, Geico auto insurance, Dairy Queen ice cream, Fruit of the Loom underwear, See's sweets and a variety of industrial and chemical operations. Last year, during an interview on a news outlet in the country, he said if he found a worthwhile investment in India he would "be there tomorrow", citing the size of the population and the resulting purchasing power as benefits, according to The Wall Street Journal.

Meanwhile, Buffett will be hoping to get second-time lucky on his India bet - Berkshire had forayed with a much fan-fare into the Indian non-life insurance sector as a corporate agent of Bajaj Allianz General in 2011 but was compelled to shut shop two years later due to lack of profitability and laws constraining foreign stake in companies.

If the talks between Paytm and Buffett is successful, then Paytm will soon become his first Indian investment. If the transaction goes through, it will give Paytm more firepower to strengthen its market leadership against Flipkart-owned Phonepe and Google's Tez besides potential competition from Facebook-owned WhatsApp and Reliance Jio.

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The transaction is among the first of the company's investments in India.

As per Buffett, he doesn't invest in companies whose business model he doesn't understand, and tech is one of them. In the past, Berkshire Hathaway has selectively invested in some publicly listed tech companies, most notably International Business Machines (IBM) Corp. and Apple.

He sold his shares of IBM, but he still owns Apple stock. They realize that technology companies go through a cycle of losses before they start generating cash.

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