Former Tata Sons chairman Ratan Tata made a staggering 23,000 per cent return on his initial investment after selling 5 per cent of his total stakes in Zerodha rival Upstox.
According to Upstox, Tata still holds a 95% stake in the company. The 86-year-old business magnate acquired a 1.33% stake in Upstox in 2016.
At what valuation?
“Mr. Tata’s stake in Upstox has recorded a massive 23,000% return on the original investment made in 2016, based on our latest round valuation of $3.5 billion. This achievement reflects our dedication to creating value for everyone involved: our investors, partners and Most importantly, our Rata Tata users bought about 1.33% of Upstox in 2016,” Upstox said.
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Co-founder Subramanian highlights Tata’s role in Upstox
“We are particularly honored that Mr. Tata, an iconic and respected figure in India, has been such a key part of our journey. His early belief in our vision was a huge vote of confidence, and his challenge to us was simple and profound: “How can we offer the average Indian the same high-quality wealth advice that rich people receive? This question has been at the heart of everything we do at Upsto,” said co-founder Kavitha Subramanian.
“That vision inspired the creation of Upstox Wealth, a platform designed to give all Indians access to the best financial tools and advice, regardless of their background or the size of their investment. We believe that everyone deserves the opportunity to increase their wealth, not just a privileged few. “Our mission is to deliver solid returns for all our investors and we are proud to say that today we are able to return part of Mr. Tata’s investment.”
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