Nithin Kamath Reveals Zerodha Built With Just ₹10 Lakh, Explains Why IPO Isn’t on the Cards

Zerodha co-founder and CEO Nithin Kamath has once again captured public attention with his candid response to a Reddit user’s query about the company’s growth, profitability, and IPO plans. In a detailed social media post shared on September 16, 2025, Kamath revealed that Zerodha was built with an initial investment of just ₹10 lakh and reiterated that the company has no intention of going public.

Kamath’s post offered rare insights into Zerodha’s bootstrapped journey, its customer-first philosophy, and the strategic reasons behind staying private despite being one of India’s most profitable fintech firms.

Zerodha’s Humble Beginnings: Built on ₹10 Lakh

Kamath disclosed that the total money spent on Zerodha since its inception in 2010 amounts to approximately ₹10 lakh. This includes:

He credited the free NSE Now trading platform and a near-zero-cost back-office vendor arrangement for enabling Zerodha’s launch without heavy capital expenditure. The company started as a partnership firm to take advantage of lower exchange deposit requirements—₹90 lakh compared to ₹1.5 crore for a private limited entity.

Why Zerodha Isn’t Planning an IPO

Kamath’s response to the IPO question was rooted in philosophy and pragmatism. He emphasized that Zerodha’s independence from external investors allows it to prioritize customer interests over shareholder expectations.

Kamath noted that going public would introduce pressures that could compromise Zerodha’s core values, including its strict stance against user data monetization.

Zerodha’s Financial Performance

Despite its modest beginnings, Zerodha has grown into one of India’s most profitable fintech companies. In FY24, the firm reported:

Kamath attributed this success to compounding, discipline, and timing—highlighting that the company’s rise coincided with India’s own economic ascent.

Kamath’s Personal Journey and Philosophy

Kamath also reflected on his personal journey, revealing that it took nearly 25 years of involvement in Indian markets to reach this point. Coming from a middle-class family—his father was a bank manager and his mother a veena teacher—Kamath said the journey was shaped by persistence, passion, and luck.

He drew parallels with Nvidia CEO Jensen Huang, noting that success often comes down to being in the right place at the right time.

Zerodha’s Unique Business Model

Kamath highlighted several aspects of Zerodha’s business model that differentiate it from competitors:

These principles have helped Zerodha build trust among retail investors and maintain a loyal user base.

Community Engagement and Transparency

Kamath’s Reddit response is part of a broader effort to engage with the community and maintain transparency. He regularly shares updates, insights, and reflections on social media, making him one of the most accessible founders in India’s startup ecosystem.

This open approach has helped demystify finance for millions and positioned Zerodha as a thought leader in the fintech space.

Conclusion: Zerodha’s Journey Is a Case Study in Value-Driven Growth

Nithin Kamath’s revelation that Zerodha was built with just ₹10 lakh—and his firm stance against an IPO—offers a compelling narrative in an era dominated by venture capital and aggressive scaling. By staying true to its values and focusing on long-term impact, Zerodha has carved out a unique space in India’s financial landscape.

As Kamath put it, “Things in business compound over time, especially if you love what you’re doing and are lucky to be in the right place and time.” Zerodha’s story is a testament to that philosophy—and a reminder that not all success needs to be listed on the stock exchange.

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Disclaimer: This article is based on publicly available social media posts, verified financial disclosures, and news reports. It is intended for informational purposes only and does not constitute investment or legal advice. All figures and statements are subject to change based on official updates.