After studying law I vectored towards journalism by accident and it's the only job I've done since. It's a job that has taken me on a private jet to Jaisalmer - where I wrote India's first feature on fractional ownership of business jets - to the badlands of west UP where India's sugar economy is inextricably now tied to politics. I'm a big fan of new business models and crafty entrepreneurs. Fortunately for me, there are plenty of those in Asia at the moment.
Fancy a slice of paytm’s parent One97 Communications? Unlisted shares are available at a valuation of ₹96,000 crore. Over the last month, brokers have been offering them for ₹20,200 a share. At a minimum lot size of 100 shares, it is an investment of ₹20.2 lakh.
The development comes a little over a month after Berkshire Hathaway invested $300 million in the firm at a $10 billion valuation. Company employees are willing to exit their Esops at a 30 percent premium, which brokers have been selling to their high net worth clients. Unlisted shares usually carry high brokerage fees and the difference between a buy and sell quote can be as high as 5 percent.
Brokers Forbes India spoke to said the shares quoted at about ₹7,500 in November 2016 when demonetisation was announced; they were about ₹11,500 in the first quarter of 2018. The steep rise may mean new buyers would have to wait for a while before they are able to see meaningful gains and exits.