The fintech giant's share price has slumped more than 84% since it filed for a blockbuster IPO — India’s largest — eroding $14.5 billion of investor wealth

Buffett's exit comes after a string of selldowns for Paytm, including stake cuts by Japanese conglomerate SoftBank Group and the exit of China's Alibaba Group

SoftBank's Vision Fund is the second-largest shareholder of Paytm, whose shares have tumbled more than 60% since it went public a year ago

Paytm E-commerce bought back a combined stake of 43.32% for 42 crore rupees ($5.4 million), valuing the company at just around 100 crore rupees ($10.2 million)

India’s IPO market has crashed back to earth this year after a record 2021. Surging inflation, looming higher interest rates,...

Tech companies like Paytm, food delivery outfit Zomato, online insurance broker PolicyBazaar, and online fashion seller Nykaa were amongst the biggest losers.

Surging inflation, looming higher interest rates, supply chain bottlenecks and the Ukraine war are among factors that brought the market back to earth.

Paytm raised $2.5bn in India's biggest IPO last November but made a dismal debut on widespread concerns over its high valuation

Paytm’s chief Vijay Shekhar Sharma moved to reassure the markets as the Indian giant’s share price tumbled another 12% after reports of data leaks to Chinese firms

The pressure keeps piling on Warren Buffett-backed Indian payments merchant Paytm. Shares of its owner One97 Communications are in freefall and now it must deal with gloomy predictions about its future revenues.