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Business Economy


Zerodha adds clients at 349 pc rate during FY 18-19

Kochi, Jul 5 (UNI) Zerodha, a leading technology-driven firm, currently having a user base of over nine lakh across the country and had grown tremendously in the past one year adding clients at a rate of 349 per cent during financial year 2018-2019, a top official of the Company said .
Informing this at a news conference here on Thursday, Zerodha Educational Services Vice-President Karthik Rangappa said that ‘’the year 2017 was quite a year for us as a business. We became the second largest brokerage house, biggest in India by monthly new client additions and largest standalone direct mutual fund platform with Coin.’’
‘’With our technology team taking the lead, we have many interesting products in the pipeline for launch in the next quarter. I am hopeful that with new offerings and also by continuing to grow our existing and new clients, we will be able to grow much faster this financial year,’’ he added.
“For an informed investor, buying mutual funds directly is the best option. SIP of Rs 5000 monthly invested for 25 years in direct vs distributor can potentially save Rs 28 lakh as commissions. Buying direct mutual fund in demat also gives the convenience of a single portfolio view,’’ he further stated.
Coin has facilitated over INR 1500 crore and it was by far the biggest in the market, he claimed.
Coin is india’s first direct MF + Equity platform that let the customer buy mutual funds online, completely commission-free, directly from asset management companies. The mutual fund bought through Coin will be in demat form, with a convenience of one portfolio across equity, mutual fund, currency. One can start, stop or modify SIPs at anytime they want and the first Rs 25,000 worth of investments would be free.
In Kerala, Zerodha has offices in Kochi, Calicut, Pala, Thrissur, Trivandrum and Wayanad. It has grown at a rate of over 900 per cent for (FY 18-19) with a client base of over 25200 and touch point of six partner offices, he said.
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