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Last Updated : Jan 10, 2019 04:16 PM IST | Source: Moneycontrol.com

Zerodha becomes India’s largest broker with 8.47 lakh clients

Zerodha has 8.47 lakh active clients, a little more than ICICI Securities’ 8.44 lakh clients, according to NSE data

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Online stock trading startup Zerodha has raced ahead of traditional giants like ICICI Securities, HDFC Securities, Motilal Oswal and Sharekhan with the highest number of clients, according to National Stock Exchange (NSE) data.

According to the data, Zerodha has 8.47 lakh active clients, a little over ICICI Securities’ 8.44 lakh clients. HDFC Securities is trailing with 6.74 lakh and Sharekhan with 5.4 lakh clients.

According to a report citing a blog post, Zerodha founder and CEO Nithin Kamath has said that the platform sees two million trades every day. He also reportedly claimed that this volume makes Zerodha the largest retail brokerage firm not just India, but in the world.

Kamath addressed rumours doing the rounds on social media about the alleged ineffectiveness of their business model, according to reports.

"Despite 2018 being our eighth and our most successful year, we still see baseless rumours and misinformation about us being circulated on WhatsApp and social media, inciting people to not trade with us," he is quoted as saying.

He claimed that the company has over Rs 400 crore of promoter capital deployed in the business and has zero debt. He assured people that if the markets were to get into a fix like in 2008, any of Zerodha's clients would come out unscathed as the financials of the company are very strong, the report adds.

"We have stayed away from raising any external equity or venture capital where almost every VC and PE continue holding the independence of building products for the love of it more than monetary goals," he added.
First Published on Jan 10, 2019 04:15 pm
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