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<ul><li>Investors rushed to Zerodha as two exciting IPOs⁠— from IRFC and Indigo Paints⁠— were open for subscription.</li><li>CEO Nithin reportedly admitted that the systems were down for a bit, but not completely crashed.</li><li>Zerodha has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020, and is the largest institutional broker in the country.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>. </li></ul>India's largest institutional broking firm Zerodha’s platform crashed during the peak market hours on Wednesday, as users rushed to place orders for the two hot initial public offers in the market — Indian Railway Finance Corporation and Indigo Paints. Furious investors complained on Twitter as the website restricted them from applying for the IPOs. Zerodha currently owns the largest share of the pie in the institutional broking industry and has nearly 3 million users, <a href="https://www.businessinsider.in/business/corporates/news/interview-angel-broking-ceo-believes-the-600-crore-ipo-will-ride-the-digital-euphoria/articleshow/78235409.cms">as per data</a> in September 2020. Zerodha’s CEO Nithin Kamath <a href="https://economictimes.indiatimes.com/tech/tech-bytes/users-complain-of-zerodha-outage-as-indigo-paints-ipo-opens/articleshow/80362725.cms">told ET</a> that the systems were down for a bit, but not completely crashed. “Multiple tries would have worked. The IPO has a lot of people trying to apply at the same time. It is slow, but working,” he added. Business Insider reached out to Zerodha for comments but we are yet to receive a response. <div type="twitter" handle="real_manikant" handlename="Manikant" image="http://pbs.twimg.com/profile_images/1348894458952130561/HZ-T19JA_normal.jpg" favoritecount="66" retweetcount="6" status="Come on #zerodha. This is not the first time it's happening. Since morning the Console is down. What are you guys d… https://t.co/3gXgQomop8" createdat="1611128077000" id="1351795251791319041"></div> <div type="twitter" handle="1Riteshgupta_" handlename="Ritesh" image="http://pbs.twimg.com/profile_images/1285920568768737280/v3_ytfeX_normal.jpg" favoritecount="1" retweetcount="0" status="@Nithin0dha @zerodhaonline why I can't buy / trade in bank nifty 33000 strike this week option contract. Very bad e… https://t.co/H4RShEBgre" createdat="1611137187000" id="1351833460512493568"></div> <div type="twitter" handle="Kishore64653096" handlename="Kishore K" image="http://pbs.twimg.com/profile_images/1193798534308364290/KCbNIV_i_normal.jpg" favoritecount="3" retweetcount="1" status="#zerodha completely disappointing on emergency situations. Not for the first time https://t.co/vrA29M2XPe" createdat="1611142108000" id="1351854099558330370"></div> According to the <a href="https://downdetector.in/status/zerodha/">Down Detector website</a>, the outage peaked around 11:15 am and normalised around 5 pm, when the market closed for IPO subscription. Hot bets — IRFC and Indigo Paints The investors have been going crazy as the IPO bonanza has lit up the street once again. The <a href="https://www.businessinsider.in/stock-market/news/heres-what-analysts-have-to-say-about-the-4634-crore-indian-railway-finance-corporation-irfc-ipo/articleshow/80323479.cms">IRFC’s ₹4,634 crore IPO </a>concluded today with a subscription of a little over 3 times the offer value, and at the same time, Indigo Paints’ ₹1000 crore IPO opened for public subscription — the issue was subscribed fully within a few hours. Both the IPO received top recommendations from nearly all brokerages based on various factors from strong valuation to robust business growth and healthy financials. The<a href="https://www.businessinsider.in/stock-market/news/indigo-paints-1000-crore-ipo-to-open-on-january-20-in-india/articleshow/80248736.cms"> Indigo Paints’ IPO was hot in the grey market</a>, even before opening for public subscription. The grey market data showed that people were ready to pay a premium of ₹800-810 over the set price band of ₹1480 - ₹1490 per share. SEE ALSO: <a href="https://www.businessinsider.in/international/news/jack-ma-the-billionaire-founder-of-alibaba-and-ant-group-resurfaced-after-he-went-missing-in-china/articleshow/80360004.cms" data-type="tilCustomLink">Jack Ma resurfaces – Alibaba founder makes his first public appearance after he was feared to be “missing” for nearly two months</a> <a href="https://www.businessinsider.in/stock-market/news/why-indigo-paints-1000-crore-ipo-is-a-hit-even-before-it-opened-for-subscription/articleshow/80357759.cms" data-type="tilCustomLink">Indigo Paints’ ₹1,000 crore IPO is a hit even before it opened⁠ for subscription— here’s why</a>

Two smoking hot IPOs choke India's largest broking site Zerodha

Brokerage firm <keyword id="759851" type="General" weightage="20" keywordseo="Zerodha" source="Orion">Zerodha</keyword> has received in-principle approval from the <keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword> to launch its asset management company. <keyword id="11339820" type="General" weightage="20" keywordseo="zerodha-founder" source="Orion">Zerodha Founder</keyword> and CEO, <keyword id="1430802" type="General" weightage="20" keywordseo="Nithin-Kamath" source="Orion">Nithin Kamath</keyword> said in a tweet on Wednesday: "So, we just got our in-principle approval for our AMC (MF) license. I guess now comes the hard part. The company had applied for an AMC (<keyword id="6354820" type="General" weightage="20" keywordseo="Mutual-fund" source="Orion">Mutual fund</keyword>) license in February last year. "To grow the capital market participation from the current 1.5 crores and address those who currently don't invest (Millenials), we think mutual fund as a product needs to be reimagined. So yeah, we have just applied for an AMC (Mutual fund) license," he had said in a tweet last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/uber-has-ola-zomato-has-swiggy-but-whos-urban-company-competing-with/articleshow/85835674.cms">Uber has Ola, Zomato has Swiggy but who’s Urban Company competing with?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/skit-which-helps-barbeque-nation-and-axis-bank-automate-call-centres-has-raised-23-million-in-funding/articleshow/85834063.cms">Skit, which helps Barbeque Nation and Axis Bank automate call centres, has raised $23 million in funding</a>

Zerodha gets approval to enter mutual fund business

<ul><li>Indians are heavily <keyword id="35175" type="ORGANIZATION" weightage="20" keywordseo="investing">investing</keyword> in <keyword id="373404" type="ORGANIZATION" weightage="20" keywordseo="Financial-Assets">financial assets</keyword> and bulk of that money is routed via startups like <keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword>, Upstox and others.</li><li>In the last two decades, financial <keyword id="41933" type="ORGANIZATION" weightage="20" keywordseo="assets">assets</keyword> per adult in India gained 2%, while non-financial assets fell 8.4%, as per a Global Wealth Report 2021 by Credit Suisse.</li><li>Tech savvy broking firms like Zerodha, Upstox hold double digit market share in terms of number of unique investors as compared to traditional stock brokers like Motilal Oswal, Angel Broking.</li></ul>Financial assets in India have been on an uptrend in at least the last two decades as financial assets per adult in India have gained 2% between 2000 to 2020, while non-financial assets fell 8.4%, shows Global Wealth Report by Credit Suisse. The data indicates rising interest of individuals in financial assets like stocks, bonds, mutual funds. Adding to it, data from the Reserve Bank of India (RBI) shows that in the year ended March 2020, the net financial assets in India — defined as gross financial assets less financial liabilities — jumped from ₹13.73 lakh crore in FY19 to ₹15.62 lakh crore in FY20 due to decline in borrowing from banks. Since interest rates have remained low in the country for quite some time, investors have shifted more savings towards soaring markets. Many new retail investors entered the industry in the last one year as interest rates kept depleting and markets kept surging. In fact, 14.2 million demat accounts have been opened in FY21, according to SEBI data. “The net financial assets of Indian households have grown due to fall in bank deposits and increase in investments. Lower interest rate environment, combined with friction-less access to financial markets due to fintech services and online brokers, is one of the key reasons for this spike in financial assets in India. As of January, India's total demat account stood at 51.5 million, a 26% increase compared to the end of FY20,” said Nikhil Kamath, cofounder of Zerodha. Most new investors that have come in the last one year are lured because of the record high Sensex/Nifty 50 levels and ease in opening a demat account, doing e-KYC through popular online trading platforms like Zerodha. Zerodha holds 18.85% market share with 33.9 lakh unique active investors followed by Upstox with 10.9% market share with19.6 lakh unique active investors, reveals data by stock market analytics platform Trade Brains. These online trading platforms hold greater market share over traditional broking firms like Angel Broking, ICICI Securities and Motilal Oswal Services. <table style="border-width: initial; border-style: none;"></colgroup></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Top 5 stock brokers </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Active clients </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Market share </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">33,91,059 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">18.85% </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Upstox </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">19,60, 861 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">10.90% </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Angel Broking </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">14,54, 167 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8.08% </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">14,35,356 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">7.98% </td></tr><tr><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">9,44,091 </td><td style="border-left:solid #000000 0.7465275pt;border-right:solid #000000 0.7465275pt;border-bottom:solid #000000 0.7465275pt;border-top:solid #000000 0.7465275pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.25% </td></tr></tbody></table>(As per data from Trade Brains as of March 2021) Indian household’s cash and savings have been deployed into the market because of ease in online investment procedures like e-KYC, payment gateways, access to relevant information on fingertips and FOMO (fear of missing out) effects, highlights Neelabh Sanyal, chief operating officer and cofounder of Kuvera. “Minimum investment options by banks and mutual funds, subdued returns on non-financial assets such as real estate and availability of surplus cash due to pandemic have attracted investors to financial markets. Besides, the investor is also evolving and naturally gravitating to financial assets due to higher transparency, standardisation, liquidity and strong regulatory environment as compared to non-financial assets,” said Sanyal. Ravi Kumar, founder and chief executive of Upstox feels that financial assets will continue to grow in the coming time as investors have learned the importance of investing. "Indians are increasingly preferring financial assets over physical assets. While non-financial assets give a sense of ownership, financial instruments such as mutual funds and equities are easy to liquidate. Also, due to the pandemic people have learnt the importance of investing, portfolio diversification, and hence financial assets will continue to grow in the future," said Kumar. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/twitter-is-giving-away-140-free-nfts-to-followers-and-theyre-not-available-any-other-way/articleshow/84010546.cms">Twitter is giving away 140 free NFTs to followers — and they’re not available any other way</a> <a href="https://www.businessinsider.in/business/startups/news/new-technology-is-putting-conventional-jobs-out-of-business-msme-exchange-panelists-highlight-on-how-it-helps-in-the-long-run/articleshow/84013275.cms">New technology is putting conventional jobs out of business -- MSME Exchange panelists highlight on how it helps in the long run</a> <a href="https://www.businessinsider.in/business/startups/news/swiggy-coo-vivek-sunder-will-be-exiting-the-company-by-october/articleshow/84010468.cms">Swiggy COO Vivek Sunder will be exiting the company by October, CEO Sriharsha Majety may take over</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-stocks-tank-after-march-quarter-results/articleshow/84010118.cms">Vodafone Idea shares in deep red as an uncertain future looms</a>

Zerodha, Upstox and other broking apps are minting money as FOMO and easier access drive Indians to stock markets

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Two smoking hot IPOs choke India's largest broking site Zerodha

Navdeep Yadav

Zerodha gets approval to enter mutual fund business

IANS

Zerodha, Upstox and other broking apps are minting money as FOMO and easier access drive Indians to stock markets

Bhakti Makwana

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