The potential $285.4 to 356.7 million deal assumes significance since, 1) it marks Buffet’s first direct investment in India and 2) it values Paytm at over $10 billion.

On Monday, as per a report from the Economic Times, Berkshire Hathaway Inc is in talks with India’s One97 Communications Ltd, the parent of digital payments firm Paytm, in order to invest $285.4 to 356.7 million (20-25 billion rupees) in the venture.

Berkshire, the conglomerate run by billionaire investor Warren Buffett, aims to pick up a stake of 3% to 4% in Paytm’s parent; the deal will be routed through a primary subscription of shares said source familiar with the matter at hand.

If the deal materializes it will mark Buffet’s first direct venture in India, said the report from the Economic Times.

Todd Combs, one of Berkshire’s key fund managers, a potential chief investment officer at Berkshire, is heading the potential deal.

The coming weeks could see Berkshire clinch the deal which values Paytm over $10 billion.

China’s Alibaba Group and SoftBank are among the major backers of Paytm.