Hyderabad, Apr 24 (UNI) Zerodha, a discount brokerage firm will achieve its client base from 8 lakhs to 1 million or 1-2 million during the Financial Year 2018-19, its vice-president (Education Service) Karthik Rangappa said.

Talking to newsmen here on Tuesday, Mr Karthik along with AVS –Sales Salman Quraishi said that the company has 8 lakh clients across the country. Of them 5.5 were active clients. The clients base has grown300 per cent during 2017-18.

In Telangana, Mr Karthik said that the company has 42,000 clients. It has grown at a rate of 139 per cent during 2017-18. In Hyderabad, Zerodha has 31,000 clients and grown at a rate of 168 per cent during the last fiscal

Speaking on “Coin”, India’s first direct Mutual Fund+ Equity platform, Mr Karthik said that the customer buy mutual funds online completely commission-free directly from asset management companies.

“One can start, stop or modify SIPs anytime they want and the first Rs 25,000 worth of investment would be free”, he said.

“Any 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 lakhs as commissions. Buying direct mutual fund in demat also gives the convenience of a single portfolio view”, Mr Karthik said added Coin has facilitated over Rs 1100 crore worth of investments till now.

UNI VV JW1630