NSE waived fees for early broker Zerodha in a Rs 5 lakh subsidy as it prepares for IPO

Nithin Kamath, founder of the brokerage Zerodha, stated that the National Stock Exchange of India (NSE) provided critical financial support during the company's inception in 2010. The exchange offered NSE NOW, a free trading platform that allowed brokers to serve clients without building proprietary infrastructure. When Kamath sought membership for the firm in Chennai, officials noted Zerodha lacked funds. Consequently, NSE officials waived a membership fee of Rs 5 lakh. Kamath highlighted this financial assistance as a primary reason the company could begin operations when other firms faced barriers. The National Stock Exchange is currently advancing its initial public offering (IPO). Kamath expressed gratitude toward the exchange, calling the support essential to Zerodha's existence. He contrasted his positive interaction with NSE against general negative stories circulating about market exchanges at that time.