Brijendra
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India's leading businessman Ratan Tata has sold his 5% stake in Upstox to the company in a buyback transaction. Due to this, Tata has got 10 times more return on his investment. Ratan Tata had bought stake in Upstox in 2016.
However, Tata has retained 95% of his original investment. But based on Upstox's last round valuation of $3.5 billion, he could get a 23,000% return on his money.
86-year-old veteran businessman Ratan Tata had bought 1.33% stake in Upstox in 2016.
Upstox co-founder Kavita Subramanian said, "We are extremely happy that Ratan Tata, one of the most respected and great personalities in India, has joined our business. Our mission is to deliver strong returns to all investors.
Kavita Subramanian further said that it is a matter of pride to say that today we are capable of returning a part of Ratan Tata's investment.
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