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Who is Noel Tata? Meet Ratan Tata’s half-brother—the dominant frontrunner to helm Tata Trusts | Mint

LivemintLivemint · 12m ago
Who is Noel Tata? Meet Ratan Tata’s half-brother—the dominant frontrunner to helm Tata Trusts | Mint
Medial

- Ratan Tata, patriarch of the Tata Group, passed away, leaving the conglomerate with the task of selecting his successor. - Tata Trusts, which owns a majority stake in Tata Sons, the holding company of the Tata Group, controls the conglomerate. - The final rites of Ratan Tata were conducted with full state honors, with the presence of family members and top Tata Group executives. - Noel Tata, Ratan Tata's half-brother, is the frontrunner to succeed him and has been a key figure in the governance of the trusts. - Noel Tata has been chairman of Trent Ltd, a successful apparel retailer under the Tata Group, and has held various positions within the group. - Noel Tata's children are also trustees of some family-linked charities associated with Tata Trusts.

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Upstox delivers 10x return to Ratan Tata following buyback

EntrackrEntrackr · 1y ago
Upstox delivers 10x return to Ratan Tata following buyback
Medial

Wealth management platform Upstox has completed a buyback of 5% of Ratan Tata’s holdings, reflecting a 10X return on Tata’s original investment, while he retains 95% of his stake in the company. Ratan Tata’s 2016 investment in Upstox has delivered a 23,000% return in total, based on the company’s $3.5 billion valuation, as per the firm’s press release. Tata had bought around 1.33% stake in the company in 2016. According to TheKredible, Tiger Global holds 38% of Upstox, followed by the company’s founders, Ravi Kumar and Kavitha Subramanian. Upstox offers a range of financial instruments, including stocks, IPOs, futures and options (F&O), commodities, currencies, fixed deposits, peer-to-peer lending, government bonds, non-convertible debentures (NCDs), gold, and insurance. In May, the company entered the insurance distribution business. While Upstox has yet to file its FY24 annual report, the Mumbai-based company reported a 44% increase in operating revenue, surpassing Rs 1,000 crore in FY23, and announced achieving profitability. Upstox competes with major players like Zerodha, Groww, AngelOne, and PhonePe’s Share.Market. As of August, Groww leads the market, followed by Zerodha, AngelOne, Upstox, and ICICI Direct. Zerodha, Groww’s stockbroking unit and AngelOne reported Rs 8,370 crore and Rs 2,900 crore and Rs 4272 crore revenue in FY24 respectively. In Q1 FY25, Mumbai-based AngelOne reported Rs 1,405 crore in revenue and Rs 293 crore in profits. As of August, Groww was the market leader followed by Zerodha and AngelOne. Upstox and ICICI Direct are number 4th and 5th player, respectively.

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