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MCA Slaps Fine On Nithin Kamath, Zerodha AMC
Inc42
·
1y ago
Medial
A fine of INR 5 Lakh has been imposed on a company and its director for not appointing a Chief Financial Officer (CFO). The founder of the company has been charged a penalty of INR 4.08 Lakh. Zerodha Asset Management plans to contest the order. The violation of the Companies Act, 2013 occurred when the company failed to appoint a CFO for 459 days between December 20, 2021, and March 23, 2023.
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Nithin Kamath’s AMC Zerodha Fund House launches maiden funds
Economic Times
·
1y ago
Medial
Zerodha, the financial services company founded by Nithin Kamath, has launched its maiden funds as its asset management company (AMC) enters the mutual fund space. The move aims to cater to the growing demand for asset management and diversify Zerodha's offerings. The new funds include a multicap fund and a large-cap fund. Zerodha aims to challenge established players in the mutual fund industry with its low-cost and user-friendly approach.
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India’s market is 'definitely' overestimated: SoftBank’s Rajeev Misra
Money Control
·
2y ago
Medial
Misra’s comments on overestimation of the Indian market echo those of Nithin Kamath, co-founder, and CEO of India’s largest stock broking platform Zerodha. Last week, on Twitter, Kamath, whose Zerodha has not raised a single dollar from external investors to date, blamed the VC (venture capital) ecosystem, along with startup founders, for overestimating the Indian market
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'Tough for a company like us': Nithin Kamath says Zerodha IPO unlikely as broking dips, banking dreams grow
Business Today
·
2m ago
Medial
Zerodha CEO Nithin Kamath has dismissed the possibility of an IPO, emphasizing the company’s independence and self-sustaining model. Kamath highlighted that Zerodha doesn’t need public market funding and has no immediate plans for listing due to the demanding nature of exchanges. Instead, the company aims to expand beyond broking, focusing on securing a banking license. Zerodha remains committed to its philosophy of independence and long-term control, a strategy successful since its inception.
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Zerodha's Nikhil Kamath now India's youngest billionaire at 37
Economic Times
·
1y ago
Medial
Nikhil Kamath, co-founder of Zerodha, has become India's youngest billionaire at the age of 37, according to Forbes' list of India's 100 richest people. With a net worth of $5.5 billion, Kamath and his brother Nithin Kamath were ranked 40th on the list. Zerodha, founded in 2010, revolutionized zero-cost equity investing and reported impressive revenue and profit growth in the financial year 2022-23. Despite competition, the company plans to maintain onboarding and maintenance fees.
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Zerodha started in 2010; It took me 20yrs to be successful, says Nithin Kamath
IndianStartupNews
·
1y ago
Medial
Nithin Kamath, the CEO of Zerodha, India's largest stock brokerage firm, shared insights on success and hard work in a podcast. He began trading in 1997 and started Zerodha in 2010, with significant success coming in 2016, illustrating that it took 20 years for his journey to succeed. Other guests, including Nikhil Kamath, also discussed the role of hard work in achieving success. Zerodha, specializing in discounted brokerage services, recorded substantial revenues and profits in fiscal year 2022.
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Death of currency derivative trading by retail traders: Kamath on RBI order
Inshorts
·
1y ago
Medial
Zerodha CEO Nithin Kamath has commented on RBI's directive requiring traders to have exposure to the underlying currency to trade in currency derivatives on the stock exchange. "This means the death of currency derivative trading on stock exchanges by retail traders," Kamath said. "Regulatory risk is by far the biggest risk for stock brokers," he added.
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Equity investors saved up to Rs 20,000 crore in 10 years on zero brokerage: Nithin Kamath
Economic Times
·
4m ago
Medial
Zerodha CEO Nithin Kamath revealed that investors saved between Rs 2,000 crore and Rs 20,000 crore over a decade after Zerodha eliminated brokerage charges for equity delivery. Despite challenges, the zero-brokerage policy remained, reflecting the substantial savings compared to standard market rates. Kamath emphasized the impact of brokerage costs on returns, stating these often-overlooked costs hinder profits. He clarified Zerodha's name origin as "Zero + Rodha" (barriers in Sanskrit), not "Zero + brokerage."
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Extremely sorry: Zerodha CEO on consecutive tech issues
Inshorts
·
1y ago
Medial
Zerodha CEO Nithin Kamath said he is "extremely sorry" for the two consecutive technological issues in the last two months. "The issues...were triggered due to edge cases with our external dependencies," Kamath said, adding that it affected 5-20% of its active customers. On Monday, users faced issues logging into Zerodha's trading platform Kite's website.
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Couldn't afford them when we started: Kamath on no IIT, IIM grads at Zerodha
Money Control
·
1y ago
Medial
Zerodha CEO Nithin Kamath said the reason why the stockbroking company does not have any graduates from IITs or IIMs is that it "couldn't afford" them when the company started. "The first many years, there was not enough money on the table. So, we couldn't afford any IIMs. Because people come with the price tag," Kamath further explained.
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Structural joblessness among youth causing uneven growth: Kamath
Inshorts
·
1y ago
Medial
Zerodha co-founder Nithin Kamath wrote on X that India’s growth will remain uneven due to structural unemployment. He urges the government to promote startup culture beyond big cities. Kamath hopes the budget addresses Section 54F, which offers tax exemptions for reinvesting in residential property, to include startup investments. He believes the benefits of this change outweigh the risks.
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