Type of site Private Industry Stock Broker Founder Nithin Kamath Users 200,000+ Headquarters Bengaluru | Key people Nithin Kamath CEO Products Kite Connect, Coin Founded 2010 Number of employees 600 | |
Services Equity Trading,
Derivatives Trading,
Currency Trading,
Commodity Trading Subsidiaries Zerodha Commodities Pvt. Ltd. Profiles | ||
Zerodha is an Indian financial services company (member of NSE, BSE, MCX, MCX-SX) that offers brokerage-free equity investments, retail and institutional broking, currencies and commodities trading, and mutual funds. Founded in 2010, Zerodha is known for its discount pricing model and innovative use of technology. It is headquartered in Bangalore and has physical presence in all major Indian cities. It is also an official member of NSE's consultative committee for growing business. As of January 2017, Zerodha contributes up to 5% of retail trading volumes on Indian stock exchanges, generating daily trading turnovers crossing $2 billion.
Contents
Nithin kamath founder and ceo zerodha
"Discount broking" model
The company claims to be "India's first discount brokerage" having debuted the "discount broking" model in India that is popular in developed markets. The model exempts customers from any broking charges on trades and transactions, and favours traders who take large futures and options provisions. Instead, a flat fee of a maximum of Rs: 20 is applied to a trade, irrespective of its size. In December 2015, Zerodha became the first Indian stock broker to offer brokerage and commission-free equity investments.
Corporate affairs
Zerodha has a client base of 250,000+customers, and handles average daily turnovers of Rs: 10000 – 12000 crores in equities and Rs: 1000 crores in commodities. The company offers commodities trading via its wholly owned subsidiary, Zerodha Commodities Pvt. Ltd.
It has won the "Economic Times Startup Awards 2016" in the "Bootstrap Champ" category. Nithin Kamath, the founder and CEO, won the 2013 Confederation of Indian Industry (CII) Emerging Entrepreneur Award for pioneering the discount broking model in India. The company also won the BSE-D&B "Emerging Equity Broking House Award" in 2014 and 2015 respectively.
In early 2017, Zerodha launched "The Rupee tales", a Box set of five illustrated financial literacy books for children. Authored by Karthik Rangappa, the books have received critical acclaim.
Kite
Kite is a web based HTML5 trading platform developed by Zerodha, launched in September 2015. It is described as a "minimalistic cross-platform application", in addition to being India's first multilingual trading platform available in regional languages including Kannada, Hindi, Gujarati, Bengali, Malayalam, Tamil and Odia.
Kite Connect
Launched in December 2015, Kite Connect is Zerodha's Platform as a service API that enables companies to rapidly develop and deploy stock trading platforms without the complexity of building technological, operational, and regulatory stock broking infrastructure.
Coin
Zerodha launched "Coin", its mutual fund platform, in March 2017. It offers commission-free direct mutual funds to end users.