Upstox says delivered 23,000% returns to Ratan Tata, eight years after investment

Upstox says delivered 23,000% returns to Ratan Tata, eight years after investment

Discount stock broker Upstox on October 3 said it has concluded a buyback of 5% of former Tata Sons chairman Ratan Tata’s holdings in the company, returning 10x on his original investment as realised capital. Tata continues to hold 95% of his stake in the company, said Upstox.

"Mr. Tata’s stake in Upstox has registered a whopping 23,000% return on the original investment made in 2016, based on our last round valuation of $3.5 billion. This achievement reflects our dedication to building value for everyone involved—our investors, partners, and most importantly, our users. Rata Tata had bought around 1.33% stake in Upstox in 2016," said Upstox.

Upstox cofounder Kavitha Subramanian said, “We are particularly honoured that Mr. Tata, a respected and iconic 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 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.

“That vision inspired the creation of Upstox Wealth, a platform designed to give every Indian access to the best financial tools and advice—no matter their background or investment size. 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’re proud to say that today we’re able to return part of Mr. Tata’s investment."

"Even after this success, Mr. Tata continues to hold the majority of his stake with us, showing his continued belief in our mission. His support pushes us to keep going, and we remain committed to our goal: to provide accessible, high-quality wealth management for every Indian. We won't stop until everyone has access to the tools they need to build their financial future," said the company.