Tata Group chairman emeritus Ratan Tata has cashed in on his early investment in the stock broking platform Upstox. Rata Tata has reportedly received 23,000%-plus return on his investment in the Tiger Global-backed platform.
The 86-year-old industrialist, known for his visionary leadership of the Tata Group, had acquired a small stake in Upstox in 2016. Recently, the company announced a buyback of 5% of his holding, allowing Tata to exit a portion of his investment.
Rata Tata took small stake in the company in 2016
Based on Upstox’s last valuation of $3.5 billion, Tata’s stake has seen a major appreciation.Kavitha Subramanian, Co-founder of Upstox, expressed gratitude for Tata’s support. She highlighted how his investment and guidance have been instrumental in shaping the company’s mission to provide wealth management services. “His early belief in our vision was a huge vote of confidence, and his challenge to us was both simple and profound: “How can we offer the same top-quality wealth advice to the everyday Indian that wealthy individuals receive?” This question has been at the heart of everything we do at Upstox,” Subramanian said.
Subramanian emphasized that Tata’s continued investment in Upstox, even after the company’s significant growth, demonstrates his unwavering belief in the team and its vision.
Upstox has been experiencing substantial growth in recent years. In FY23, the company reported a significant increase in both revenue and profitability, indicating strong market demand for its services.