Zerodha Broking Ltd. is an Indian stock broker and financial services company that is member of the National Stock Exchange of India (NSE), Bombay Stock Exchange (BSE), and the Multi Commodity Exchange (MCX). It offers institutional and retail brokerage, currency and commodity trading, mutual funds and bonds.[1][2]
Industry | Financial services |
---|---|
Founded | August 2010 |
Founder | Nithin Kamath & Nikhil Kamath |
Headquarters | , |
Services |
|
Subsidiaries | Zerodha Commodities Pvt. Ltd |
Website | zerodha |
Founded in 2010, the company is headquartered in Bengaluru and has a physical presence in many major Indian cities.[3][4][5][6]
The company was founded in August 2010 by two brothers Nithin and Nikhil Kamath. The company's name Zerodha, indicates a combination of words for the company's ideals: Zero and "Rodha", the Sanskrit word for "barrier".[7]
As of 2019, Zerodha was the largest retail stock broker in India by active client base and contributes up to 2% of daily retail volumes on Indian stock exchanges.[8]
Zerodha is also an investor in Kofluence, an AI-driven adtech influencer marketing platform. The company had raised pre-series funding of $4 million as of February 8, 2022[9]
In June 2020, Zerodha entered the "unicorn club" with a self-valuation of around $1 billion. This valuation was based on the ESOP buyback exercise that the company undertook by valuing each share at more than four times the book value of ₹700 per share.[10]
In March 2024, Zerodha reached its fund house to ₹1,000 Crore AUM.[11][12]
A fixed commission of up to ₹20 is applied to a transaction, regardless of its size, and offers its retail clients a host of purpose-built trading applications.[8]
Zerodha has a base of more than 12 lakh[13] (1.2 million) of active customers.[14][15] The company also offers commodity trading through its wholly owned subsidiary, Zerodha Commodities Pvt. Ltd.[16]
It won the "Economic Times Startup Awards 2016" in the "Bootstrap Champ".[17] The company also won the BSE - D&B "Emerging Equity Broking House Award" in 2014 and 2015 and the NSE "Retail Broker of the Year" award in 2018.[18]
In 2014, Rainmatter was founded as an early-stage fund with a corpus of ₹50 Crore (Rs500 million). By keeping the ticket size under $1 million per investment, the fund focused on reducing risk but focused on financing start-ups in new technology and new product development. Some notable investments by Rainmatter are in startups such as Cred, Finception, Smallcase, and Sensibull.[19][20][21]
In 2019, Zerodha started True Beacon, the Alternative Investment Fund focused on providing returns in volatile markets through their defensive investment strategy. The $2 million minimum investment fund was able to generate a return of more than 13% in its first year. In 2020, Zerodha applied for a license to set up an AMC mutual fund in India.[19][22][23]
There have been multiple reports of technical issues including glitches, system outages and connectivity issues on Zerodha's Kite platform, especially on days with high market volatility and F&O expiry days.[24][25][26][27]
In November 2020, Livemint reported that some Zerodha traders complained of being unable to access its Kite platform due to a technical issue. Several users took to Twitter to report a login issue. Zerodha, in an official statement, admitted the problem.[28]
{{cite news}}
: CS1 maint: unfit URL (link)
{{cite web}}
: CS1 maint: unfit URL (link)
{{cite web}}
: CS1 maint: unfit URL (link)
Media related to Zerodha at Wikimedia Commons