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A slam-dunk move is how you’d view what our Maverick has done to open up and increase the investment and trading base in the country. No stranger to taking risks, losing big and rebounding. He’s the broker boy from Bengaluru who’s now scoring high on Dalal Street.
From trading the markets at a young age to making fast money and losing it all, his life has been a roller coaster ride. In 2010, Nithin Kamath, Founder and CEO of Zerodhawent from being burnt out as a trader to becoming a broker the Indian capital markets never had. Backed by his younger brother, Nikhil Kamath, the duo have built a technology led, product and investor focused brokerage business with a customer base of 1.5 million.
By removing the age old barriers to investing, and charging no brokerage for equity trades, Zerodha has become India’s largest broker with total holdings in securities to the tune of Rs 18,000 crore, contributing upto 15% of overall retail trading volumes in the country.
Nithin Kamath is the Founder and Chief Executive Officer of Zerodha. He began trading stocks when he was introduced to the markets by his friends at just 17. He started trading in penny stocks. He had accumulated quite a bit of money by the time he finished his engineering degree from the Bangalore Institute of Technology. He then lost it all - Rs 5 lakh - between 2001 and 2002 when the markets crashed. Undeterred, he began working at a call centre during the night while he traded stocks in the day to build up his trading capital. This went on for a couple of years until he met an American HNI who gave him a cheque and asked Nithin to manage his money. Eventually, he started his brokerage Kamath & Associates and became a sub-broker for Reliance Money in 2006. In one of the biggest gamble of his life, Nithin started Zerodha in the middle of a trading lull in 2010.
