Zerodha Co-Founder Nitin Kamati There has been a huge jump in his net worth in the last one year. According to the IIFL Wealth Hurun India Rich List 2021, the net worth of Kamath’s family grew by 51 per cent to Rs 25,600 crore during the previous year. Kamath and his family are ranked as the 63rd richest Indians as per the list. Kamath’s younger brother Nikhil has a net worth of around Rs 11,000 crore.
zerodha, currently tallies as one of the largest stock brokerage firms in India in terms of trading volume. A record number of investors opened trading accounts on Zerodha to dive into equity investments during the pandemic.
The Kamath brothers started this journey with the founding of Zerodha in 2010. At the beginning of it all, his main focus was on day traders. Fast forward ten years later and the business has grown rapidly.
“Back in 2010 the plan was for Nikhil to do business with very little money that we had left after starting Zerodha to create enough runway for the retail broking effort. And that’s what they did, and that’s how we survived,” founder Nitin Kamath shared in a recent blog. Ten years later, with its products and technology and education, the startup has grown in a big way. The pricing model and in-house technology have made us the largest stockbroker in India in terms of active retail clients,” the company said.
Zerodha allows its clients to trade in Equity, Bond, Currency, Commodity and Mutual Funds. An investor needs to spend at least Rs 300 to open an account in Zerodha. Equity delivery investments are free. Securities transaction tax is charged separately for equity delivery, equity intraday, futures and options. The company also charges a flat fee of Rs 20 for each trade, irrespective of the size of the trade or whether there are brokerage charges or not. As it stands, the trend indicates that the company has added around 2 lakh accounts every month.
“We have commoditized retail investing, making it accessible to millions of users at practically zero cost, equipping them with more high-quality tools that they may never need to invest in the markets. All this despite being completely bootstrapped, is purely driven by our passion, recalled Nitin Kamath, CEO, Zerodha.
“The last two years have been really great and we were lucky to be at the right place at the right time. As the market expanded, there has been significant growth,” Kamath told News18 in May. In early 2020, we had 20 lakh customers, now we have around 60 lakh customers on our platform, he said, in May. till the end of
For the financial year ending March 2021, Zerodha more than doubled its profit to ₹1,000 crore.
To empower retail traders and investors, Zerodha runs several popular open online educational and community initiatives. The company launched Varsity, a learning module to educate young first time investors. It also runs trading Q&A, was an active forum traders and investors can discuss stock ideas. Then ‘Z Connect’ is an interactive blog.
Zerodha’s fintech fund and incubator RainMatter has invested in several fintech startups with an aim to grow the Indian capital markets.
Apart from Zerodha, Kamath Brothers founded True Beacon, an investment management firm. It is aimed at ultra-high net worth investors and works on a zero-fee model. AMC does not charge account opening charges, redemption charges, maintenance charges. It charges a 10 per cent performance fee from the investor on the profit at the end of the financial year.
IIFL Wealth Hurun India 40 and self-made entrepreneurs had cumulatively added assets worth Rs 44,900 crore. Thus they registered an increase of 59 percent over the previous year. It is also to be noted that the top 3 biggest beneficiaries in the IIFL Wealth Hurun India Rich List 2020 are those aged 40 or below.
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