Investment platform Upstox has provided a 10-fold return to Ratan Tata, former chairman of Tata Group, following the buyback of 5% of his stake in the company. Tata initially invested in Upstox in 2016, acquiring a 1.33% stake, and the overall value of his investment has surged 230 times since then.
Although specific financial details of the transaction were not disclosed, the substantial return underscores Upstox’s rapid ascent in the digital trading platform space. Kavitha Subramanian, co-founder of Upstox, expressed gratitude for Tata’s early belief in their vision, calling his investment a significant vote of confidence. Tata had challenged the platform to provide top-quality wealth advice to the common Indian investor, a mission that Upstox has kept at its core.
Upstox has since grown into a $3.5 billion company, with a user base of 1.3 crore, establishing itself as a major player in India’s fintech sector. Earlier this year, Ravi Kumar, CEO of Upstox, mentioned plans to go public within the next 2-3 years. Subramanian reaffirmed the company’s commitment to making wealth-building opportunities accessible to everyone, continuing to generate strong returns for investors.
Key Highlights:
- 10-Fold Return: Upstox buyback delivers a significant return on Ratan Tata’s initial investment.
- Rapid Growth: The platform’s valuation has reached $3.5 billion with a 1.3 crore user base.
- IPO Plans: Upstox aims for a public offering within 2-3 years, continuing its mission of democratizing wealth management.