With 10X gains, Tata Sons chairman emeritus Ratan Tata has largely left broking platform Upstox following the startup’s 5% stock buyback
Upstox stated in a statement that, based on the startup’s most recent valuation of $3.5 billion, Tata had earned a “23,000% return on the original investment” made in 2016. The statement did not provide the facts of the deal.
When Tata invested in Upstox in 2016, he obtained a 1.33% share in the company.
It’s important to note that Tata has made significant investments in Indian startups. In addition to Upstox, his portfolio also includes Ola, CarDekho, and Lenskart. Following Tata’s investment, Upstox raised an additional $50 million from Tiger Global in two fundraising rounds in 2019.
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