Upstox, the digital investment platform, has generated a remarkable 10-fold return for Ratan Tata, the former chairman of the Tata Group, following the buyback of 5% of his stake in the company. This achievement highlights the substantial growth of Upstox since Tata first invested in the platform in 2016.
Tata, who initially acquired a 1.33% stake in Upstox, has seen the total value of his overall investment grow an astonishing 230 times over the years. While the company did not disclose the exact financial details of the recent transaction, the implications of this successful buyback are profound for both Upstox and its investors.
Kavitha Subramanian, co-founder of Upstox, expressed her gratitude for Tata’s involvement in the company. “We are particularly honoured that Tata has been such a key part of our journey. His early belief in our vision was a huge vote of confidence,” she stated. She highlighted the challenge that Tata posed to the team: “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.”
Earlier this year, Upstox’s CEO, Ravi Kumar, indicated that the company is gearing up for a public listing within the next 2-3 years. Currently valued at $3.5 billion, Upstox boasts a user base of approximately 1.3 crore.
Subramanian emphasized the company’s mission, stating, “We believe that everyone deserves the opportunity to grow their wealth, not just the privileged few. Our mission is to deliver strong returns for all our investors, and we are proud to say that today we’re able to return part of Tata’s investment.”
