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The 14-year-old Zerodha is estimated to be worth ₹64,800 crore ($7.7 billion at ₹84 to a US dollar), by a report released by Hurun in association with IDFC First Private Banking on December 18. This is significantly higher than the $3.6 billion valuation reported by the bootstrapped startup in September 2023.
The two billionaire brothers own nearly all shares in the company. With over ₹5.6 lakh crore worth of assets in custody and over ₹4,700 crore in annual profit in FY24, the Bengaluru-based firm is now only second to Groww (another app-based broker founded in 2016) by market share, according to latest data compiled by B&K Securities.
Nithin, with a background in trading and finance, holds an engineering degree from NITK Surathkal and he serves as the CEO of Zerodha.
Nikhil Kamath, the co-founder and Chief Financial Officer, launched the “WTF Fund” aimed at backing young entrepreneurs under the age of 22 in sectors such as fashion, beauty, and home industries, .
The duo also has a startups incubator called Rainmatter.
While retail investors have piled on to the euphoria in Indian stocks this year, the Kamaths have been rather cautious about the prospects going forward. You can watch the recent interview here:
First Published: Dec 18, 2024 12:55 PM IST
