Technology-backed brokerage firm Zerodha won the top prize at the sixth edition of The Economic Times Startup Awards 2020. Adjudged Startup of the Year at India’s most coveted awards for entrepreneurship, Zerodha joined a list of distinguished winners that have displayed the potential to go on to become blue-chip corporations.
A high-powered jury led by Rajesh Gopinathan, CEO and MD of Tata Consultancy Services (TCS), selected nine winners, including Zerodha, for the Startup Awards.
Zerodha is an Indian financial service company (member of NSE, BSE, MCX, MCX-SX), that offers retail and institutional broking, currencies and commodities trading, mutual funds, and bonds. Founded in 2010, the company is headquartered in Bangalore and has physical presence in several major Indian cities.
As of 2019, Zerodha is the largest retail stock broker in India by active client base, and contributes upwards of 2% of daily retail volumes across Indian stock exchanges.
In June 2020, Zerodha entered the unicorn club with a self-assessed valuation of about $1 Billion. This valuation is based on the ESOP buyback exercise the company undertook valuing each share at more than four times of the book value of INR 700 per share.