Zerodha Broking Ltd.
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| File:Logo of Zerodha.png | |
| Private company | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | August 2010 |
| Founders 👔 | Nithin Kamath & Nikhil Kamath |
| Headquarters 🏙️ | , , IND |
Area served 🗺️ | |
| Products 📟 | Kite, Coin, Console, Varsity mobile |
| Services | Stockbroker Electronic trading platform |
| Members | |
Number of employees | 1100+[1] |
| Divisions | Zerodha Commodities Pvt. Ltd. |
| 🌐 Website | https://zerodha.com |
| 📇 Address | |
| 📞 telephone | |
Zerodha Broking Ltd. is an Indian Financial services company, and a member of the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), Multi Commodity Exchange (MCX).[2][3] The company offers both institutional and retail brokerage services, currency trading, commodities trading, as well as mutual funds and bonds. Founded in 2010, Zerodha is headquartered in Bengaluru and maintains a physical presence in several major Indian cities.[4][5][6]
History[edit]
Zerodha was founded in August 2010 by brothers Nithin and Nikhil Kamath.
The company's name, "Zerodha," is a fusion of two terms that reflect its corporate ideals: "Zero" and "Rodha," a Sanskrit word meaning "barrier."[7]
By 2019, Zerodha had become the largest retail stockbroker in India, boasting an active client base of 10 million and contributing up to 2% of the daily retail trading volumes on Indian stock exchanges.[8]
In June 2020, Zerodha achieved a significant milestone by entering the "unicorn club," signifying a self-valuation of approximately $1 billion. This valuation was determined during an Employee Stock Option Plan (ESOP) buyback exercise in which the company valued each share at more than four times its book value of ₹700 (US$8.80) per share.[9] [10]
Services[edit]
Zerodha offers a wide range of financial services and products. Key services include:
- Equity Trading: Offering brokerage-free equity investments, allowing retail investors to invest in the stock market without traditional brokerage fees.[11]
- Derivative Trading: Charging nominal fees for trading in derivatives, such as futures and options. [11]
- Mutual Funds House: Zerodha has received the final approval from the Securities and Exchange Board of India (SEBI) to initiate its mutual fund business.[12] [13]
- Educational Resources: Hosting various educational initiatives and tools to help investors understand the financial markets under the brand name Varsity.[14] [15]
Technical problems and outages[edit]
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 expiration days.[16][17][18][19]
In November 2020, Livemint reported that some Zerodha traders complained that they were unable to access its Kite platform due to a technical glitch. Several users have taken to Twitter to report a login problem. Zerodha, in an official statement, admitted the act.[20]
References[edit]
- ↑ "30 Under 30: Nikhil Kamath - Chess to derivatives, all in a day's work". Forbes. Retrieved September 21, 2016.
- ↑ Barbora, Lisa Pallavi (April 12, 2013). "Advantage customers: providers shift focus". Mint. HT Media. Retrieved April 11, 2015.
- ↑ "Bengaluru broking firm Zerodha scraps fee for cash trades; rivals miffed by move". The Economic Times. December 2, 2015. Retrieved December 2, 2015.
- ↑ "Business News Today: Read Latest Business news, India Business News Live, Share Market & Economy News". Retrieved August 1, 2013.
- ↑ Thomas, Tanya (January 4, 2017). "Active accounts: discount brokers gain market share". The Hindu Business Line. Retrieved August 12, 2017.
- ↑ "Technology helps us unleash innovation in the capital markets: Zerodha CTO Kailash Nadh". Economic Times. April 3, 2018. Retrieved August 11, 2018.
- ↑ "The Zerodha story: How the Kamath brothers built India's largest retail broker". Moneycontrol. 2019-01-18. Retrieved 2023-08-18.
- ↑ "Here's how Zerodha became India's biggest stock brokerage". The Times of India. 2019-01-20. ISSN 0971-8257. Retrieved 2023-08-18.
- ↑ "Take A Look At The 'Journey Beyond Unicorn' With Nikhil Kamath". Forbes India. Retrieved 2023-08-18.
- ↑ "Another Indian Startup to Enter Unicorn Club in 2020- Zerodha - Inventiva". inventiva. June 8, 2021.
- ↑ 11.0 11.1 "The Discount Brokerage: How Zerodha Founder Kamath Brothers Revolutionized Online Trading In India". Zee News. Retrieved 2023-08-18.
- ↑ "Zerodha gets final nod from Sebi to launch mutual fund business: Nithin Kamath". cnbctv18.com. 2023-08-14. Retrieved 2023-08-18.
- ↑ "Zerodha to launch its MF business soon - Cafemutual.com". Cafemutual. Retrieved 2023-08-18.
- ↑ "Zerodha has a booming content platform within, but it has no plans to milk it". Business Insider. Retrieved 2023-08-18.
- ↑ Borate, Jash Kriplani,Neil (2023-01-20). "Zerodha wants to tutor your kid on the ABC of finance". mint. Retrieved 2023-08-18.
- ↑ "Will Zerodha compensate investor losses caused by tech glitch?". Livemint. Retrieved March 19, 2020.
- ↑ "Zerodha server down due to connectivity issue, management clarifies". Moneycontrol. February 27, 2019. Retrieved 19 March 2020.
- ↑ "Unplugged, Zerodha not to depend on leased lines". Business Line. Retrieved 19 March 2020.
- ↑ "Zerodha's Kite platform faces technical issues". CNBC TV18. Retrieved March 19, 2020.
- ↑ "Some Zerodha traders peeved as Reliance Jio users face login issue". mint. 5 November 2020. Retrieved 3 December 2020.
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