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Nithin Kamath Credits NSE Support Ahead of NSE IPO
Nithin Kamath said the National Stock Exchange helped Zerodha when it was a small new company.
He said Zerodha considered becoming a brokerage because NSE offered a free platform called NSE NOW.
When Zerodha asked about joining the exchange, Kamath said the NSE team was welcoming.
He also said the exchange waived a membership fee of about ₹5 lakh.
Kamath believes Zerodha might not exist in its current form without NSE’s help.
He expects the NSE’s upcoming IPO to be successful, but said this was not investment advice.
The IPO will be open to the public from September 17 to September 21.
Its shares will be priced between ₹1,700 and ₹1,785, although the final market price may differ.
Nithin Kamath said NSE support helped Zerodha launch and grow as a brokerage.
He said NSE waived Zerodha’s roughly ₹5 lakh membership fee when the company was starting.
Kamath said NSE NOW provided a free trading platform that helped Zerodha begin in 2010.
The NSE IPO will open on September 17 and close on September 21, with an anchor book opening September 16.
The issue will offer 12.64 crore shares through an offer for sale at ₹1,700–₹1,785 per share.
- Who
- Nithin Kamath, Zerodha, and the National Stock Exchange of India.
- What
- Kamath recalled NSE’s support for Zerodha and commented on the NSE’s upcoming IPO.
- Where
- Zerodha approached the exchange for membership in Chennai; the IPO is offered in the Indian market.
- When
- Kamath’s remarks concern Zerodha’s early years from 2010 and the IPO subscription dates of September 17–21.
- Why
- NSE support, including NSE NOW and a waived membership fee, helped Zerodha start when it lacked resources to build its own trading platform.
Key facts
- IPO subscription
- September 17 to September 21
- Anchor book
- Opens September 16
- Offer type
- Offer for sale of 12.64 crore equity shares
- Price band
- ₹1,700–₹1,785 per share
- Estimated issue size
- Around ₹22,569 crore at the upper price band
- Grey market premium
- ₹210, implying ₹1,995 or an 11.76% premium at the upper price band
- Tentative listing date
- September 24
Quotes
Nithin Kamath
Zerodha co-founder discussing NSE’s early support for the brokerage
“In many ways, we are around only because of the NSE. When we started, we didn't have the money to build our own trading platform. If there is one company I personally feel a sense of obligation towards, it is the NSE”
businesstoday.in
“Back in 2010, one of the reasons we even considered becoming a brokerage firm was because of NSE NOW. It was a free trading platform provided by the NSE India that brokers could offer to their clients”
businesstoday.in
Sources
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