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Last Updated:<\/span>September 16, 2025, 16:02 IST<\/time><\/p>\nZerodha co-founder Nithin Kamath says no IPO is planned, emphasizing independence from investors and prioritizing customer interests, discipline, and luck.<\/h2>\n<\/p>\n\n\n\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/p>\nNo IPO, No Pressure: Nithin Kamath on Zerodha\u2019s Unique Growth Story<\/p>\n<\/figure>\nOne of the largest online brokerages Zerodha, is not looking to bring its initial public offering anytime soon, reveals co-founder Nithin Kamath in the X post. He says the company\u2019s independence from external investors is central to its philosophy \u2014 a luxury that allows it to prioritize customer interests over business pressures.<\/p>\nResponding to a Reddit user\u2019s query on what sets Zerodha apart and why the firm has never sought an IPO, Kamath highlighted that the company\u2019s unique journey is rooted in discipline, timing, and luck. \u201cNow that there is no pressure to give any exit to any investor, we can continue doing what is right for the customer, sometimes even at the cost of the business,” he wrote. Policies such as a strict \u201cno spam and no tracking” rule, he added, would be hard to maintain as a public company.<\/p>\nKamath traced the company\u2019s humble beginnings back to 2010, when Zerodha started as a partnership firm to take advantage of lower exchange deposit requirements. The venture\u2019s initial outlay was around Rs 10 lakh \u2014 Rs 2.5 lakh for the website, Rs 5 lakh for office interiors, and the rest for miscellaneous costs. Coming from a middle-class family with no wealthy backers, Kamath credited NSE\u2019s free trading platform and a nearly costless back-office vendor tie-up for helping Zerodha take off.<\/p>\n\n\nSomeone on Reddit asked what does Zerodha do differently, how are we profitable, why don\u2019t IPO etc. This is what I replied:Hmmm\u2026 so you forget that we have spent 15 years getting here. And maybe another 10 years, before Zerodha, I was involved in the markets in some form. So,\u2026<\/p>\n\u2014 Nithin Kamath (@Nithin0dha) September 16, 2025<\/a><\/p>\n<\/blockquote>\n<\/div>\nOver 15 years of operations, and nearly 25 years of his personal involvement in markets, Kamath said the firm\u2019s growth reflects India\u2019s own economic rise. \u201cAny gyan any founder gives, eventually comes down to getting timing right, and this has got everything to do with luck,” he noted, drawing parallels with Nvidia\u2019s Jensen Huang, whose persistence paid off decades later.<\/p>\nFor Zerodha, Kamath believes its long-term moat will not be valuation-driven, but value-driven.<\/p>\n\n\n<\/p>\n<\/figure>\n<\/span><\/p>\nVarun Yadav<\/a><\/p>\nVarun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More<\/span><\/p>\n<\/div>\n<\/div>\nVarun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More<\/span><\/p>\n<\/div>\n<\/div>\nFirst Published:<\/span><\/p>\n\nSeptember 16, 2025, 16:02 IST<\/p>\n<\/div>\n<\/div>\nNews<\/a> business<\/a> ipo<\/a> Why Zerodha Isn\u2019t Chasing An IPO Dream: Co-Founder Nithin Kamath Explains Reason<\/span><\/div>\n\n\nDisclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use<\/a> and Privacy Policy<\/a>.<\/div>\n<\/div>\n<\/div>\nRead More<\/span><\/p>\n<\/div>\n
No IPO, No Pressure: Nithin Kamath on Zerodha\u2019s Unique Growth Story<\/p>\n<\/figure>\n
One of the largest online brokerages Zerodha, is not looking to bring its initial public offering anytime soon, reveals co-founder Nithin Kamath in the X post. He says the company\u2019s independence from external investors is central to its philosophy \u2014 a luxury that allows it to prioritize customer interests over business pressures.<\/p>\n
Responding to a Reddit user\u2019s query on what sets Zerodha apart and why the firm has never sought an IPO, Kamath highlighted that the company\u2019s unique journey is rooted in discipline, timing, and luck. \u201cNow that there is no pressure to give any exit to any investor, we can continue doing what is right for the customer, sometimes even at the cost of the business,” he wrote. Policies such as a strict \u201cno spam and no tracking” rule, he added, would be hard to maintain as a public company.<\/p>\n
Kamath traced the company\u2019s humble beginnings back to 2010, when Zerodha started as a partnership firm to take advantage of lower exchange deposit requirements. The venture\u2019s initial outlay was around Rs 10 lakh \u2014 Rs 2.5 lakh for the website, Rs 5 lakh for office interiors, and the rest for miscellaneous costs. Coming from a middle-class family with no wealthy backers, Kamath credited NSE\u2019s free trading platform and a nearly costless back-office vendor tie-up for helping Zerodha take off.<\/p>\n
\nSomeone on Reddit asked what does Zerodha do differently, how are we profitable, why don\u2019t IPO etc. This is what I replied:Hmmm\u2026 so you forget that we have spent 15 years getting here. And maybe another 10 years, before Zerodha, I was involved in the markets in some form. So,\u2026<\/p>\n\u2014 Nithin Kamath (@Nithin0dha) September 16, 2025<\/a><\/p>\n<\/blockquote>\n<\/div>\nOver 15 years of operations, and nearly 25 years of his personal involvement in markets, Kamath said the firm\u2019s growth reflects India\u2019s own economic rise. \u201cAny gyan any founder gives, eventually comes down to getting timing right, and this has got everything to do with luck,” he noted, drawing parallels with Nvidia\u2019s Jensen Huang, whose persistence paid off decades later.<\/p>\nFor Zerodha, Kamath believes its long-term moat will not be valuation-driven, but value-driven.<\/p>\n\n\n<\/p>\n<\/figure>\n<\/span><\/p>\nVarun Yadav<\/a><\/p>\nVarun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More<\/span><\/p>\n<\/div>\n<\/div>\nVarun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More<\/span><\/p>\n<\/div>\n<\/div>\nFirst Published:<\/span><\/p>\n\nSeptember 16, 2025, 16:02 IST<\/p>\n<\/div>\n<\/div>\nNews<\/a> business<\/a> ipo<\/a> Why Zerodha Isn\u2019t Chasing An IPO Dream: Co-Founder Nithin Kamath Explains Reason<\/span><\/div>\n\n\nDisclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use<\/a> and Privacy Policy<\/a>.<\/div>\n<\/div>\n<\/div>\nRead More<\/span><\/p>\n<\/div>\n
Someone on Reddit asked what does Zerodha do differently, how are we profitable, why don\u2019t IPO etc. This is what I replied:Hmmm\u2026 so you forget that we have spent 15 years getting here. And maybe another 10 years, before Zerodha, I was involved in the markets in some form. So,\u2026<\/p>\n
\u2014 Nithin Kamath (@Nithin0dha) September 16, 2025<\/a><\/p>\n<\/blockquote>\n<\/div>\nOver 15 years of operations, and nearly 25 years of his personal involvement in markets, Kamath said the firm\u2019s growth reflects India\u2019s own economic rise. \u201cAny gyan any founder gives, eventually comes down to getting timing right, and this has got everything to do with luck,” he noted, drawing parallels with Nvidia\u2019s Jensen Huang, whose persistence paid off decades later.<\/p>\nFor Zerodha, Kamath believes its long-term moat will not be valuation-driven, but value-driven.<\/p>\n\n\n<\/p>\n<\/figure>\n<\/span><\/p>\nVarun Yadav<\/a><\/p>\nVarun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More<\/span><\/p>\n<\/div>\n<\/div>\nVarun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More<\/span><\/p>\n<\/div>\n<\/div>\nFirst Published:<\/span><\/p>\n\nSeptember 16, 2025, 16:02 IST<\/p>\n<\/div>\n<\/div>\nNews<\/a> business<\/a> ipo<\/a> Why Zerodha Isn\u2019t Chasing An IPO Dream: Co-Founder Nithin Kamath Explains Reason<\/span><\/div>\n\n\nDisclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use<\/a> and Privacy Policy<\/a>.<\/div>\n<\/div>\n<\/div>\nRead More<\/span><\/p>\n<\/div>\n
Over 15 years of operations, and nearly 25 years of his personal involvement in markets, Kamath said the firm\u2019s growth reflects India\u2019s own economic rise. \u201cAny gyan any founder gives, eventually comes down to getting timing right, and this has got everything to do with luck,” he noted, drawing parallels with Nvidia\u2019s Jensen Huang, whose persistence paid off decades later.<\/p>\n
For Zerodha, Kamath believes its long-term moat will not be valuation-driven, but value-driven.<\/p>\n
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Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More<\/span><\/p>\n<\/div>\n<\/div>\nVarun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More<\/span><\/p>\n<\/div>\n<\/div>\nFirst Published:<\/span><\/p>\n\nSeptember 16, 2025, 16:02 IST<\/p>\n<\/div>\n<\/div>\nNews<\/a> business<\/a> ipo<\/a> Why Zerodha Isn\u2019t Chasing An IPO Dream: Co-Founder Nithin Kamath Explains Reason<\/span><\/div>\n\n\nDisclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use<\/a> and Privacy Policy<\/a>.<\/div>\n<\/div>\n<\/div>\nRead More<\/span><\/p>\n<\/div>\n
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More<\/span><\/p>\n<\/div>\n<\/div>\nFirst Published:<\/span><\/p>\n\nSeptember 16, 2025, 16:02 IST<\/p>\n<\/div>\n<\/div>\nNews<\/a> business<\/a> ipo<\/a> Why Zerodha Isn\u2019t Chasing An IPO Dream: Co-Founder Nithin Kamath Explains Reason<\/span><\/div>\n\n\nDisclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use<\/a> and Privacy Policy<\/a>.<\/div>\n<\/div>\n<\/div>\nRead More<\/span><\/p>\n<\/div>\n
September 16, 2025, 16:02 IST<\/p>\n<\/div>\n<\/div>\n
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