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Nithin Kamath says a lot of credit for Indian startups' success goes to 'investors outside India'

Money ControlMoney Control · 1y ago
Nithin Kamath says a lot of credit for Indian startups' success goes to 'investors outside India'
Medial

Zerodha CEO Nithin Kamath, a member of the National Startup Advisory Council, expressed the need for wealth creation locally in India to foster inclusive growth. He emphasized that much of the success of Indian startups goes to investors outside the country. Kamath pointed out that staying in India and incorporating locally also saves startups from future tax challenges. He highlighted the attractiveness of India as a destination for startups, citing the availability of local capital, improved regulations, and a growing IPO market. Additionally, Kamath's brother and Zerodha co-founder, Nikhil Kamath, shared similar sentiments about India's potential for investors and entrepreneurs.

Nikhil Kamath invests Rs 137.5 Cr in Goldi Solar

EntrackrEntrackr · 12d ago
Nikhil Kamath invests Rs 137.5 Cr in Goldi Solar
Medial

Nikhil Kamath invests Rs 137.5 Cr in Goldi Solar Goldi Solar, a solar photovoltaic (PV) module manufacturer, has raised Rs 137.5 crore from Zerodha co-founder Nikhil Kamath. The proceeds will be used for its expansion into solar cell production, Goldi Solar said in a press release. Established in 2011 by Ishverbhai Dholakia, Goldi Solar manufactures solar PV modules, with a significant presence in India and global exports to over 20 countries. The company has a large module manufacturing capacity, currently at 14.7 GW, and is expanding its cell manufacturing capabilities as well. Besides module manufacturing, the Surat-based company also offers Engineering, Procurement, and Construction (EPC) services for solar projects. It is involved in Corporate Social Responsibility (CSR) initiatives, including supporting educational institutions and providing mid-day meals for students. Goldi Solar claims to have increased its module manufacturing capacity from 3 GW to 14.7 GW in the last 12 months. The company is also focused on backward integration with plans to establish a large-scale cell manufacturing facility by 2026. It aims to achieve a 1 GW Solar Park (IPP) by FY 2025-26. According to the company, it will focus on introducing high-efficiency modules and advanced cell technologies, targeting both domestic and export markets. For the fiscal year ending in March 2024, Goldi Solar reported Rs 1756.36 crore in revenue with a profit of Rs 59.38 Cr. The company has yet to file its annual report for FY25. “Renewable energy in India is a massive sector, and there is an equally massive opportunity to build global-scale companies right here on our home ground. It is imperative that we back these companies to accelerate the country’s clean energy transition,” said Nikhil Kamath, co-founder of Zerodha.

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