ZERODHA BUSINESS MODEL
Indian organisations on edge as sites fail to Captcha AI intruders
Personal AI agents such as Instinct, Muse, Grokbot and OpenClaw have taken over the consumer internet in the US. But last month, major US banks, including JPMorgan Chase, Bank of America, Wells Fargo and Morgan Stanley, reportedly flagged AI agents such as Meta’s Muse accessing customer accounts using login credentials voluntarily shared by users laying bare the risks of handing AI agents the keys to consumers’ digital lives.
Nikhil Kamath says AI valuations show signs of a bubble: Report
Kamath said many AI companies in the United States lack a truly defensible moat, raising questions about how durable their advantages will prove. He suggested that value creation in AI will increasingly shift toward companies that own local data and context, rather than being concentrated only among the developers of large AI models.
'Can't tell you whether to apply for Jio IPO': Nitin Kamath on Jio's rise, Zerodha's growth & what changed India's stock market
Nithin Kamath (Google Trends): Zerodha co-founder Nitin Kamath has credited Reliance Jio and Bharti Airtel for helping transform India’s digital economy and expand participation in the stock market. As Jio Platforms’ $3.2 billion IPO draws investor interest, Kamath said affordable mobile data, Aadhaar and UPI helped create the digital infrastructure that enabled businesses such as Zerodha to grow.
Jio IPO: Nithin Kamath explains how Jio played an important role in making what Zerodha is today
Zerodha CEO Nithin Kamath has credited Reliance Jio and Airtel with helping build India’s digital ecosystem and expand capital markets. Reflecting on Jio’s decade-long journey, Kamath said affordable data, along with Aadhaar and UPI, enabled online-first businesses like Zerodha to grow and helped drive a surge in retail investing.
Fintech firms counting on bank fees to unlock reliable records
From November 1, lenders will pay basic sharing fees split among banks, licensed account aggregators and Sahamati, the self-regulatory organisation and industry alliance for the network recognised by the Reserve Bank of India. Banks’ payments become linked to service performance from December 1.
Nithin Kamath reveals Zerodha's leadership secret: Why the broker rarely hires outsiders for top jobs
Zerodha founder Nithin Kamath says nearly all of the brokerage’s leaders have risen internally, with many joining early in their careers. He also discussed Zerodha’s long-term approach to social impact, questioning whether mandatory CSR spending delivers meaningful outcomes.
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Zerodha’s Nikhil Kamath lives in 7,000 sq ft apartment at Bengaluru’s Kingfisher Towers, featuring panoramic skyline views, floor-to-ceiling windows, a wooden-decked balcony, modern art, concierge services, private parking and advanced security
Nikhil Kamath house tour: Nikhil Kamath lives in a large apartment located in Kingfisher Towers, a prestigious area of Bengaluru. The apartment features modern design elements and expansive living spaces that promote comfort and relaxation. Kamath co-founded Zerodha, an influential brokerage firm that significantly contributed to his wealth. His portfolio extends to investment management and startup ventures, enhancing his financial influence. Kingfisher Towers offers residents various amenities, making it a desirable living destination.
Spinny books IPO ride; UPI subsidies may end
Spinny has confidentially filed for its initial public offering. This and more in today’s ETtech Top 5.
ETSA winner Theranautilus heads to human trials; JSW One’s IPO plans
Happy Friday! Theranautilus is set to begin human trials of its nanorobot-based dental tech soon. This and more in today’s ETtech Morning Dispatch.
UPI MDR worries new-age brokers; India's semiconductor ambitions
India’s new MDR framework for UPI is raising concern among new-age stockbrokers, who are planning to take it up with Sebi. This and more in today’s ETtech Top 5.
UPI MDR explained; AI leaders split on slowing down
UPI’s new MDR framework will change how large merchant payments are charged. This and more in today’s ETtech Top 5.
MDR on UPI does not make sense for broking and investment payments, say Nithin Kamath and Deepak Shenoy
The NPCI has unveiled a new merchant discount rate that introduces a 0.4% fee for UPI person-to-merchant transactions exceeding Rs 2000. This policy change has elicited mixed reactions from industry leaders. While some view it as a step toward enhancing financial sustainability within the digital payments landscape, others raise concerns about its potential effects on investment and trading activities.
ET Startup Awards 2026: Habuild leans on repeat users to expand beyond yoga into strength training, nutrition
Habuild, winner of the Bootstrap Champ title at the ET Startup Awards 2026, has built a profitable digital wellness business driven largely by repeat subscriptions. The platform, which started with free yoga sessions during Covid, reported Rs 112 crore revenue and Rs 57 crore net profit in FY25, while expanding into strength training and AI-led nutrition tools.
Winners of the ET Startup Awards 2026; Groww vs Zerodha
Groww won the top prize at the 12th edition of the Economic Times Startup Awards. The list of other winners, and more, in today’s ETtech Top 5.
ET Startup Awards 2026 | Startup of the Year: Street-smart Groww outruns regulatory odds to claim top prize
With the win, Groww joins the likes of Urban Company, Lenskart, OfBusiness, Razorpay, Zomato, Zerodha, Delhivery, Swiggy, Oyo, Freshworks and Ola, all of which won the biggest honour over the 11-year history of the awards.
Zerodha’s growth stalls; IT’s new deal model
Zerodha’s profit growth has slowed as its core broking business comes under pressure. This and more in today's ETtech Top 5.
smallcase Technologies expands under CASE Platforms; Zerodha CASE to be new name for mutual fund business
Fintech firm smallcase Technologies has introduced CASE Platforms as its new corporate identity. This new identity will unify its diverse portfolio of investment products and platform businesses. The mutual fund business, a joint venture with Zerodha, will now be known as Zerodha CASE Mutual Fund. CASE Platforms aims to help individual investors access the right financial products and tools.
Zerodha will keep direct mutual fund plans for free, says Nithin Kamath
Zerodha founder Nithin Kamath reaffirmed the company’s commitment to offering direct mutual funds free of charge. He said Coin has helped investors save commissions, while many rival platforms have exited or reconsidered the low-cost direct mutual fund business model.
Can Zerodha's 'nice place to work' culture become its real moat? Here's what Nithin Kamath says
Nithin Kamath said Zerodha’s culture stems from deliberate choices, including staying small, avoiding revenue targets and prioritising employee well-being over growth. He stressed patient hiring, learning from mistakes and resisting incentives that encourage excessive customer trading or employee burnout.
Zerodha's Nithin Kamath drops a big bomb about zero brokerage policy
Zerodha may soon begin charging for equity delivery trades, a service previously free, as CEO Nithin Kamath revealed a 40% drop in brokerage revenue for Q2 FY25. This decline stems from regulatory changes impacting active options trading, forcing the company to reassess its business model. Despite the revenue dip, Zerodha assures users of its strong financial health.
Zerodha clocked Rs 4,700 crore in profits for FY24; expect new F&O rules to dent revenue by 30-50%: Nithin Kamath
In a blog post, Nithin Kamath said that Sebi’s regulatory changes will adversely impact the company’s top line. Sebi’s ‘true to label’ circular will result in a 10% drop in revenues and its new rules around index derivatives will create a 30% to 50% drop in revenues for the company.
After Ola Electric, Zerodha coming up with IPO soon? Nithin Kamath shares listing plans and also his health priorities
Recent IPO successes of Ola Electric, Unicommerce, and First Cry have bolstered investor confidence in Indian businesses. Nithin Kamath of Zerodha lauded these developments but expressed hesitancy about Zerodha's own IPO due to its business model. Kamath also provided a personal update on his recovery from a mild stroke earlier in 2024.
How Zerodha has managed to give WFH option to 90% of its employees? CEO Nithin Kamath shares insight
Zerodha's CEO, Nithin Kamath, shared insights on the organization's transition from full remote work to a hybrid model. While some benefited from remote work, others faced challenges. Recently, around 10% of Zerodha's core team returned to the office three days a week
ET Entrepreneur of the Year: Nithin Kamath - the man who brought the average Indian to Dalal Street
Kamath was a stock trader for over a decade before he founded Zerodha— derived from the English ‘zero’ and the Sanskrit ‘rodha,’ which means barriers — in 2010 with younger brother Nikhil Kamath. Since then, the bootstrapped startup, which was equipped with only a brokerage licence and a team of thirty people, has emerged as the most-used retail investment platform in India.
Meet Nithin Kamath, a call centre worker with an 8k income whose 'Zerodha' is now worth Rs 2,094 crore
The Zerodha business model is based on the ideals of low margins and large volume. Because there are so many users on 'Zerodha', even a minor transaction fee converts into a lot of money for the company.
View: Can we have more Zerodhas, please?
Zerodha is proof that the old-style method of doing business—with bootstrapped funds, building a great product, letting word of mouth grow the business and focussing on customer value creation—still works.
Zerodha to buyback ESOPs from staff valuing company at $2 billion
Zerodha’s valuation will double from $1 billion last year when the brokerage firm repurchased some stock options from employees for Rs 60-65 crore.
Technology helps us unleash innovation in capital markets: Zerodha CTO Kailash Nadh
The money we are investing in startups here is to ensure that more people understand the capital markets and have a better user experience.
Bengaluru broking firm Zerodha scraps fee for cash trades; rivals miffed by move
Rival brokerage firms are miffed with Zerodha’s aggressive pricing strategy with one official calling the move ‘short-sighted’.
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