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In a surprising turn of events, <keyword id="20137391" type="General" weightage="100" keywordseo="Nikhil-Kamath" source="keywords">Nikhil Kamath</keyword>, co-founder of India's biggest discount brokerage firm <keyword id="19913826" type="General" weightage="20" keywordseo="Zerodha" source="keywords" meta.keywordsubtype="org" meta.entityname="Zerodha" meta.hostid="261" meta.entityid="Zerodha">Zerodha</keyword>, left the internet divided by purchasing a house, despite recently having advocated voraciously for renting property in his popular podcast "WTF." Comedian Sonali Thakkar Desai took to X (formerly Twitter) to highlight this U-turn, noting that "Nikhil Kamath has bought a house after advocating for so long about how “renting is the best; only fools would buy property." So let this be a lesson to literally everyone who listened to him or any other finance bro and based their real estate decisions on rubbish reels." She further added that "Mutual funds and Nikhil Kamath's opinions are subject to market risk". Kamath, who has a net worth of $3.1 billion, acknowledged that a lack of control over one's living situation is one of the biggest drawbacks of renting, noting a personal incident where he had to unwillingly and unexpectedly move out of a house. However, he maintained his skeptical attitude toward real estate as an investment, calling it illiquid and arbitrarily priced in the high-end housing market. Kamath also highlighted that due to the sky-scraping costs associated with buying property, like stamp duties of 5-6% on property transactions, it is not economically feasible to frequently buy and sell real estate, as opposed to other asset classes like gold, stocks, and more. On his podcast, Kamath also highlighted that renting does not always translate into a profitable business. "I think nobody makes money from buying and renting a place. You do not have occupancy throughout the year for something like AirBnB. Accounting for inflation and interest rates, the return on this investment is negligible," he said. Kamath's decision has reignited the never-ending debate between renting and buying property. While some social media users pointed out that for the wealthy, the choice between renting and buying is largely inconsequential, others emphasized the immense emotional and stability benefits that came along with homeownership. Kartik Rangappa, who heads Zerodha's Varsity, recently tweeted that it is okay to keep the math and Excel sheets behind buying a house aside if it gives you a sense of security and peace of mind. "Owning a house versus renting is an endless debate often backed by elaborate excel sheet math. Keep the math aside and buy a home if it make you feel secure and gives you peace of mind. Peace of mind &gt;&gt; Excel sheet math," he tweeted on October 16, 2024. There is no denying the fact that owning a house is an expensive affair and a long-term financial commitment as well. Recent report from FICCI and ANAROCK suggest that the average budget range for a 2BHK in Gurgaon is anywhere between Rs 90 lakh and Rs 1.3 crore. Getting a 2BHK in Noida, another prominent satellite town of Delhi, can cost up to Rs 85 lakh to Rs 1.20 crore. As it is, with the central bank not looking to cut rates anytime soon, home loan interest rates are set to remain elevated, meaning higher EMI outflows from your pockets if you are looking to buy a home in the present environment.

Billionaire broker Nikhil Kamath buys home, leaves internet debating on renting vs. owning a house

<ul><li><keyword id="19399957" type="General" weightage="20" keywordseo="zerodha-users" source="Orion">Zerodha users</keyword> across the country are reportedly facing network issues.</li><li>Users are reportedly unable to view their holdings, execute orders, sell stocks and more.</li><li>Zerodha has acknowledged the issue and has claimed that it is working on restoring services.</li></ul> Zerodha, a popular stock broker and trading app, reportedly stopped working due to technical issues on Monday morning. Users have taken to social media to complain that they are not able to see their holdings, trades and other details on their accounts. Update: As of 12:50 PM, Zerodha has started working. All the services are once again live on the application. <cmsannotation type="cmsannotation" annotationid="Downdetector gets nearly 2,000 reports" comment="subhead" text="Downdetector gets nearly 2,000 reports">Downdetector gets nearly 2,000 reports</cmsannotation> <div type="image" title="Zerodha outage" msid="104999756" hostid="261" caption="&amp;lt;p&amp;gt;Zerodha outage&amp;lt;/p&amp;gt;"></div> Downdetector, a popular website that tracks outages across websites and applications, has reported a massive spike in reports about the Zerodha outage. As of 9:39 AM, there were over 1,700 reports around the Zerodha outage. Zerodha has posted on X (formerly Twitter), confirming the issue and has said that it is working on solving the issue. <div type="twitter" handle="zerodhaonline" handlename="zerodhaonline" favoritecount="0" retweetcount="0" id="1721377390839099642"></div> “Due to an intermittent issue, some of our users are not able to see executed orders in the orderbook. However, the executed orders are updated on the positions page. The holdings and funds page is also not loading. We're working on fixing this and regret the inconvenience caused,” Zerodha said in its post. <cmsannotation type="cmsannotation" annotationid="Users take to social media" comment="subhead" text="Users take to social media">Users take to social media</cmsannotation> Traders and investors looking to start the week with some good investments and trades have taken to social media platforms like X to complain about the outage. <div type="twitter" handle="iGeekVision" handlename="iGeekVision" favoritecount="0" retweetcount="0" id="1721383559544664493"></div> <div type="twitter" handle="amitbhawani" handlename="amitbhawani" favoritecount="0" retweetcount="0" id="1721384758142443779"></div> Some users have also reported that they are unable to close their positions or sell their existing stocks. <div type="twitter" handle="hridayrajshyam" handlename="hridayrajshyam" favoritecount="0" retweetcount="0" id="1721379715200770321"></div> <div type="twitter" handle="Sunil68147115" handlename="Sunil68147115" favoritecount="0" retweetcount="0" id="1721383860574060966"></div> SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/honasa-ipo-how-to-check-allotment-status-of-mamaearth-ipo/articleshow/104945253.cms">Honasa IPO – How to check Mamaearth allotment, GMP, listing date and more</a> <a href="https://www.businessinsider.in/business/auto/news/mercedes-benz-gle-facelift-heres-what-the-luxury-suv-packs-at-96-4-lakh/articleshow/104912934.cms">Mercedes-Benz GLE Facelift – Here’s what the luxury SUV packs at ₹96.4 lakh</a> <a href="https://www.businessinsider.in/business/auto/news/indias-electric-two-wheelers-up-and-running-after-reduced-fame-subsidy-bump/articleshow/104912419.cms">India’s electric two-wheelers up and running after reduced FAME subsidy bump</a>

Zerodha app goes down – company acknowledges issue as users complain on social media

With each passing day, the reach of India’s payments pioneer <keyword id="6357120" type="General" weightage="100" keywordseo="paytm" source="Orion">Paytm</keyword> has only been widening. The company’s constant innovations have made it a household name across the country. Paytm has revolutionized payments in India with its QR code solution and its pioneering IoT device Paytm Soundbox which established digital payments as safe and trustworthy for both consumers and merchants. The <keyword id="2461546" type="General" weightage="50" keywordseo="fintech" source="Orion">fintech</keyword> giant's groundbreaking work in taking QR payments to the remotest corners of the country was highlighted by a user on Twitter. AIIMS Jodhpur Surgeon, Dr Tanmay Motiwala, in a recent tweet showed how Paytm has taken UPI payments to every nook and corner of the country. "I was on the outskirts of a small town in Bastar district in Chhattisgarh today. This small Dhaba owner in the midst of a highway crossing through forest cover had this UPI payment option available. Such is the story of the success of UPI," Motiwala said in a tweet. <div type="twitter" handle="Least_ordinary" handlename="Dr. Tanmay Motiwala" image="http://pbs.twimg.com/profile_images/1416400675240513542/o5hXEJqF_normal.jpg" favoritecount="351" retweetcount="10" status="I was in the outskirts of a small town in bastar district in Chhattisgarh today.This small Dhaba owner in the mids… https://t.co/TfUj56rZRp" createdat="1679416146000" id="1638216169533460481"></div> Paytm Founder, Vijay Shekhar Sharma, in a quote tweet to Motiwala's tweet, said '#PaytmKaro'. <div type="twitter" handle="vijayshekhar" handlename="Vijay Shekhar Sharma" image="http://pbs.twimg.com/profile_images/1567558193429217281/e6JbIoQ3_normal.jpg" favoritecount="60" retweetcount="2" status="#PaytmKaro https://t.co/Tut4O2axDK" createdat="1679473825000" id="1638458094954115072"></div> From dhabas, fish vendors to cart vendors, Paytm has revolutionised mobile payments in India through the ease and convenience that it offers. A picture of a Paytm Soundbox with its All-In-One QR code at a Gurudwara has also gone viral on social media, highlighting the widespread adoption of Paytm. <div type="twitter" handle="jasuja" handlename="Monica Jasuja" image="http://pbs.twimg.com/profile_images/1618495000375070720/NCT-WjUp_normal.jpg" favoritecount="55" retweetcount="4" status="The ubiquity of the sound box and QR in India never ceases to amaze me, into a magical feeling know India’s Digital… https://t.co/7n3rDaFPlI" createdat="1678034318000" id="1632420366282014720"></div> “The ubiquity of the sound box and QR in India never ceases to amaze me, into a magical feeling now India’s Digital Payments future is bright &amp; full of huge opportunities to make India cashless,” tweeted Monica Jasuja along with the picture. Other users agreed with the sentiment, saying the picture reflects the incredible digital revolution happening in India thanks to Paytm. “Forever, in awe of the ubiquitous QR Code, that homegrown instant payment system remade commerce, pulling millions into the formal economy,” replied one user. Nithin Kamath, the billionaire co-founder of India’s largest stock broking firm <keyword id="759851" type="General" weightage="50" keywordseo="zerodha" source="Orion">Zerodha</keyword> recently praised Paytm Soundbox, calling it one of the best examples of a product made specifically for the Indian context. <div type="twitter" handle="Nithin0dha" handlename="Nithin Kamath" image="http://pbs.twimg.com/profile_images/1605244931953807360/nnflPFas_normal.jpg" favoritecount="6147" retweetcount="498" status="India is unique. Copy-pasting models from the US, etc, has hardly worked. Paytm's speaker for Indian vendors that r… https://t.co/XhNXNcP4QD" createdat="1680761010000" id="1643856938407714818"></div> He tweeted, “India is unique. Copy-pasting models from the US, etc, has hardly worked. Paytm's speaker for Indian vendors that reads out payments is one of the best examples of a product made specifically for the Indian context by an Indian fintech.” Recently, VC firm Blume Ventures’ Indus Valley Annual Report 2023 cited Paytm Soundbox as an example of smart innovation by Paytm to reduce merchant friction and enhance merchant convenience while using that to drive monetization. <div type="twitter" handle="amal_vats" handlename="Amal Vats" image="http://pbs.twimg.com/profile_images/1491773988120723456/DTkF-Kyo_normal.jpg" favoritecount="24" retweetcount="0" status="Also, an example of a superb innovation by Paytm to reduce merchant friction and enhance merchant convenience! https://t.co/RkQYldpvYH" createdat="1677833488000" id="1631578022326448130"></div> “As UPI payments grew, and customers and merchants reported friction around payment reconciliation (SMS inbox fill limits of merchants' phones were a big issue), Paytm looked for solutions to enable real time updation without SMS dependency,” the report stated. It added that Paytm has been consistently selling 1 million Soundboxes every quarter and the device accounts for about 8% of its overall revenues at Rs 50 crore monthly. According to the fintech giant’s latest operating performance update, the number of merchants paying subscription for payment devices like Soundbox has reached 6.8 million as of March 2023. By partnering with a variety of merchants, including small businesses, to offer its payment services, Paytm has been able to successfully reach customers across all demographics. This has made it easy for people in even the most remote areas of the country to use Paytm to pay for goods and services. Disclaimer: This article is generated and published by the Insider Studios team. You can get in touch with them on insiderstudios@businessinsider.in

Paytm’s pioneering Soundbox and QR code images go viral on social media, highlighting the widespread adoption of Paytm

<ul><li>A <keyword id="14249764" type="General" weightage="20" keywordseo="cloudflare-outage" source="Orion">Cloudflare outage</keyword> has impacted several popular websites and services.</li><li>Users have flooded Twitter with memes about the outage.</li><li>Here are some of the best memes around the <keyword id="1617807" type="General" weightage="100" keywordseo="cloudflare" source="Orion">Cloudflare</keyword> outage</li></ul>Cloudflare, a major content delivery network (CDN) is currently facing technical issues, affecting popular websites and services like <keyword id="759851" type="General" weightage="80" keywordseo="zerodha" source="Orion">Zerodha</keyword>, Discord, Canva, and more. Cloudflare has <a href="https://twitter.com/Cloudflare/status/1539140097374793728">confirmed</a> the outage and has said that the company is working on resolving the issue. Users of the affected websites have taken to Twitter to talk about the outage and are using memes to show their frustration. Here are some memes about the Cloudflare outage. <div type="twitter" handle="Mujju1864" handlename="Mujjamil" image="http://pbs.twimg.com/profile_images/1307170091344121857/MAxd2ypd_normal.jpg" favoritecount="55" retweetcount="4" status="Options traders right now:#zerodha https://t.co/nNS3CD2J6W" createdat="1655795372000" id="1539143463547314176"></div> Popular stock broker Zerodha has also been affected by the outage and users have been facing issues while placing orders. <div type="twitter" handle="1992gaurav" handlename="Gaurav Shrishrimal (Kaagaz)" image="http://pbs.twimg.com/profile_images/1524401171930124289/P_wtQuHw_normal.jpg" favoritecount="27" retweetcount="4" status="Markets are ⏫ but #zerodha is down..Traders to #Zerodha team 😅 https://t.co/wH63q66tbg" createdat="1655795709000" id="1539144877040099331"></div> <div type="twitter" handle="MSA91856940" handlename="M S A @89 ☮️" image="http://pbs.twimg.com/profile_images/1157057900948279296/O2Y9S646_normal.jpg" favoritecount="0" retweetcount="0" status="#zerodha https://t.co/9lNqBMoh7M" createdat="1655798938000" id="1539158420216893440"></div> Some of the users have shared tweets with memes of Ashneer Grover and scenes from popular web series Mirzapur. <div type="twitter" handle="ThatBeardoAdam" handlename="Adam. We’re getting Dragon's Dogma 2, baby!" image="http://pbs.twimg.com/profile_images/1481860253243555841/jUplwls5_normal.jpg" favoritecount="197" retweetcount="58" status="#Downdetector, the website that tells you if any sites have disrupted service, is also down because it runs on… https://t.co/AQHEjYaeIl" createdat="1655794724000" id="1539140745910980608"></div> <div type="twitter" handle="RedLionKNC" handlename="Kristopher ✿ - 🌈" image="http://pbs.twimg.com/profile_images/1532007091766013952/lAnpv5Zu_normal.jpg" favoritecount="1" retweetcount="0" status="THERE ISNT ANYWAY THE. DOWNDETECTOR SERVERS ARE DOWN TOO https://t.co/uELJf1FOG2" createdat="1655796991000" id="1539150256658595842"></div> Downdetector, a website that helps you find out if a website is down or not, is ironically itself down. <div type="twitter" handle="iEmpireUK" handlename="iEmpire" image="http://pbs.twimg.com/profile_images/1475798482019618819/aRkcbtog_normal.jpg" favoritecount="0" retweetcount="0" status="Hey @Cloudflare have you tried turning it off and on again?#Cloudflare #CloudflareOutage #cloudflareisdown https://t.co/EUurmiZjRu" createdat="1655798910000" id="1539158305204994048"></div> <div type="twitter" handle="IvetaOsobova" handlename="Iveta Osobová" image="http://pbs.twimg.com/profile_images/1401127511585607682/PHHXbbrM_normal.jpg" favoritecount="1" retweetcount="1" status="Me returning to work after a long holiday weekend 🙈#cloudflareisdown #cloudflareoutage https://t.co/BoKqeXfYM5" createdat="1655796014000" id="1539146158102265864"></div> <div type="twitter" handle="cdrice999" handlename="Charles Dee Rice" image="http://pbs.twimg.com/profile_images/203662137/20080906-IMG_0247twitter_normal.jpg" favoritecount="0" retweetcount="0" status="Oncall admins at @Cloudflare looking at their alerts. &quot;Wait, it's _all_ down?... That can't be right.&quot; #Cloudflare… https://t.co/GwZoQ2XbxY" createdat="1655794416000" id="1539139455197450240"></div> Some of the users also shared memes from popular movies. <div type="twitter" handle="LightskinB7" handlename="Mix℮d man" image="http://pbs.twimg.com/profile_images/1439149444012945444/TlooyNKr_normal.jpg" favoritecount="1" retweetcount="1" status="#Cloudflare outage put #discord and #valorant down in the middle of my last comp game this act 🙈@PlayVALORANT… https://t.co/fcQe2P7HbY" createdat="1655795976000" id="1539145999792365571"></div> Valorant players also took to Twitter to rant about the outage. <div type="twitter" handle="Spades__Esports" handlename="Spades Esports" image="http://pbs.twimg.com/profile_images/1537796565259141120/sb5UmvCC_normal.jpg" favoritecount="4" retweetcount="0" status="Valorant and Discord down?! Looks like we may have to touch grass the 2nd time this year #discorddown @PlayVALORANT… https://t.co/FI11dxQpuD" createdat="1655795479000" id="1539143911482003457"></div> <div type="twitter" handle="TheGooseHouse" handlename="The Goose House" image="http://pbs.twimg.com/profile_images/1531867341612621824/vNpn-wI2_normal.jpg" favoritecount="11" retweetcount="0" status="When VALORANT and discord both go down😳 https://t.co/HlF37DTsSF" createdat="1655795467000" id="1539143864618983430"></div> <div type="twitter" handle="JustKingsLuck" handlename="King" image="http://pbs.twimg.com/profile_images/1539140428905299969/WtMC6AG3_normal.jpg" favoritecount="2" retweetcount="0" status="Trying to play @PlayVALORANT:&quot;Update Server Down&quot;Trying to log into @discord:&quot;Check out server status&quot;… https://t.co/5EmbzqeWwi" createdat="1655795428000" id="1539143700080738315"></div> SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tvs-electric-scooters-tvs-iqube-iqube-s-and-iqube-st-comparison/articleshow/92356267.cms">TVS iQube, iQube S and iQube ST compared – price, specifications and features</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-nord-2t-smartphone-india-pricing-and-launch-date-leaked/articleshow/92352401.cms">OnePlus Nord 2T India pricing and launch date leaked – here’s everything you need to know</a> <a href="https://www.businessinsider.in/tech/news/india-expands-its-crackdown-on-vpn-bans-its-employees-from-using-vpn-and-cloud-services/articleshow/92272901.cms">India expands its crackdown on VPN, bans its employees from using VPN and cloud services</a>

Cloudflare outage affects Zerodha, Discord, Valorant and more – here’s how Twitter reacted

<ul><li>The startup closed its pre-seed round at a total of $1.3 million. </li><li>Tesla’s investor Tim Draper was also an early participant in the company’s pre-seed funding round. </li><li>The funds will be utilised to execute the go-to-market strategy of the company’s first ‘upliance’- delishUp.</li></ul>Bengaluru-based consumer hardware startup Up, previously known as React Labs, has raised $500,000 from Rainmatter led by <keyword id="759851" type="General" weightage="100" keywordseo="zerodha" source="Orion">Zerodha</keyword> founder <keyword id="1430802" type="General" weightage="80" keywordseo="nithin-kamath" source="Orion">Nithin Kamath</keyword>, in a pre-seed funding round. It raised a total of $1.3 million in the pre-seed funding round. Apart from Kamath, the startup received investments from co-founders of Ather Energy, Unacademy and the Stanford Angels &amp; Entrepreneurs India. Tesla’s investor Tim Draper was also an early participant in the company’s pre-seed funding round. Founded by Mahek Mody and Mohit Sharma, the startup has designed a smart ‘upliance’, delishUp. The device features a touch screen with unlimited in-built guided recipes, coupled with a jar which heats and cooks, and offers controlled chopping, stirring and other culinary functions. The recently raised funds will be utilized to execute the go-to-market strategy of its Made in India device, delishUp. The startup aims to make cooking healthy, easy and accessible for millennials and Gen-Z. “Everyone knows the best way to manage your health is to eat home cooked food, and with this new funding we are looking forward to taking delishUp to consumers across the country. Most other services available in the market focus on the exercise or ‘calories out’ options, but nearly none of them are offering users the superpower to take control of ‘calories in’,” said Mahek Mody, co-founder and CEO at Up. The device has been tested in over 250 Indian homes and kitchens and will begin deliveries in December this year. Consumers from the brand’s beta testing program also turned into mini-angel investors, the company said. With this device, the company claims that people with no experience in the kitchen can also cook without any hassle. The company says that the recipes on the ‘upliance’ have been designed in-house, taking into account ingredients that are easily available and their nutrition. It also has the macros and calories calculated for all meals. The connected features offer unlimited recipes, and added functions like grocery shopping, menu planning and more. “The next generation of smart and connected innovation will be designed to elevate the quality of our domestic lives. The next generation of smart and connected devices for the world will be built in countries like India and by the upcoming generation of hardware startups,” said <keyword id="11216628" type="General" weightage="80" keywordseo="siri-srinivas" source="Orion">Siri Srinivas</keyword>, principal investor, <keyword id="2399647" type="General" weightage="50" keywordseo="draper-associates" source="Orion">Draper Associates</keyword>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/rocket-startup-astra-lays-off-16-of-its-workforce/articleshow/95429015.cms">Rocket startup Astra lays off 16% of its workforce</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-motors-shares-tank-4-8-on-q2-miss-jlrs-recovery-delays/articleshow/95427722.cms">Tata Motors shares tank 4.8% on Q2 miss, JLR’s recovery delays</a>

Tesla investor, Zerodha founder invest in a smart ‘upliance’ that can chop, stir and cook

<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

<ul><li><keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword> has put out a consultation paper on <keyword id="152818" type="General" weightage="20" keywordseo="algorithmic-trading" source="Orion">algorithmic trading</keyword> by retail investors yesterday.</li><li>The market regulator has suggested additional restrictions before executing an algo trade to which online broking firms providing such services have raised their concerns.</li><li><keyword id="6377626" type="General" weightage="20" keywordseo="algo-trading" source="Orion">Algo trading</keyword> means a sell/buy order gets executed automatically when the pre-defined levels are met.</li></ul>A consultation paper by India’s market regulator Securities and Exchange Board of India (SEBI), that came out on December 9, regarding algorithmic trading by retail investors is a topic of concern for online trading platforms offering automated services to trade in the stock market. Algorithmic/algo trading means a sell/buy order gets executed automatically when the predefined levels are met. For example: You have 10 stocks of ABC company bought at ₹10 and you feel the stock will move up to ₹20. In such a case you can put an upper limit to the selling price and execute a trade beforehand. This sets you free from monitoring the stock every minute and executing the trade conveniently. So, definitely it feels like algo trading is the future, but apparently there are many concerns for the regulator regarding the misuse of such automated products especially by retail investors who have a small ticket size (average amount of investment). "This kind of unregulated/unapproved algos pose a risk to the market and can be misused for systematic market manipulation as well as to lure the retail investors by guaranteeing them higher returns. The potential loss in case of failed algo strategy is huge for retail investor [sic],” said SEBI in the consultation paper. Some of the key factors from <keyword id="12710158" type="General" weightage="20" keywordseo="sebi-consultation-paper" source="Orion">SEBI consultation paper</keyword> that indicates it wants to control algo services for retail investors. <ul><li>Stock exchanges — BSE, NSE — should approve all algo trades before execution from stock brokers.</li><li>Stock exchanges need to develop a system to ensure that only those algos which are approved by the exchange and having unique algo ID provided by the exchange are being deployed.</li><li>Brokers shall also deploy suitable technological tools to ensure that appropriate checks are in place to prevent unauthorised altering/tweaking of algos.</li><li>All algos developed by any entity have to run on the servers of broker wherein the broker has control of client orders, order confirmations, margin information etc</li><li>Stock brokers need to have adequate checks in place so that the algo performs in a controlled manner.</li><li>Stock broker is responsible for all algos emanating from its application programming interface (APIs) and redressal of any investor disputes.</li></ul>SEBI has put out the paper to seek comments from various stakeholders including market intermediaries. One of the online broking platforms that offer algo services to investors says that SEBI may want to control the automated process. “SEBI has put [out] a consultation paper with the intent of curbing unregulated algo platforms that promise guaranteed returns. But the way it's planned will mean brokers will have to stop offering APIs. This will be 2 steps back in a tech-first future,” said Nithin Kamath, founder and chief executive officer (CEO) of <keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword> in a tweet. Deepak Shenoy, founder and CEO at wealth management firm Capitalmind said the problem isn’t algorithms, it's the way humans are misusing the technology. “The problem wasn’t the algorithm. It did exactly what it was supposed to do. But the human thinking that technology could save the day was exactly what ruined the day. Too many people blindly relied on technology that didn't know how to deal with the compounding effects of its own actions,” said Shenoy. Head of investment platform Dhan — Pravin Jadhav — also shared his views on SEBI’s recommendations saying SEBI is not intending to ban it, but wants more accountability on such trades. “SEBI wants stock exchanges to know which orders are coming from where and how; as a regulator it is a very fair ask [sic]. If you are worried because you are doing something wrong, then you shouldn’t be doing that in the first place,” said Jadhav. SEBI’s growing concerns over misuse of the automated features to trade in stocks is in line with the increasing popularity of algo trading platforms especially for young investors. In the consultation paper, SEBI is asking brokers to get exchange approvals for every algo trade, which is ‘an extremely tedious and complex process’ as per Kamath. Disallowing APIs will just shift investors from using broker APIs to third party automation tools which aren't in the control of the brokers. API establishes an online connection between a data provider (i.e., stock broker) and an end-user (i.e., client). SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/metro-brands-that-is-open-for-ipo-is-aggressively-planning-on-opening-new-stores-despite-covid-19s-impact-on-its-profits/articleshow/88204220.cms">Metro Brands is aggressively planning on opening new stores despite COVID-19’s impact on its profits</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/pharmeasy-ipo-is-now-facing-a-rejection-plea-from-traders-lobby/articleshow/88207514.cms">After chemists’ body, traders demand rejection of PharmEasy’s IPO</a>

Tech-enabled broking firms like Zerodha raise concerns over SEBI’s views on algo trading

<ul> <li>Demat account, trading application and UPI ID are mandatory if you are applying for an initial public offering (IPO).</li><li>Upcoming IPO of Zomato can also be applied before its IPO opening date.</li><li>There is already a lot of buzz around Zomato's ₹9,375 crore IPO.</li></ul>2021 seems to be a year of the initial public offerings (IPOs) with back to back listings happening almost every week. So far this year, 32 IPOs have been listed, according to BSE data. Presently, the upcoming IPO that has created a lot of buzz is Zomato, a food delivery startup that is currently valued at around $8.1 billion. Many of you may want to subscribe to Zomato’s IPO for one common reason that most of us have seen its growth journey very closely over the years. <div type="Article" hostid="261" msid="78290664" title="Best inverters for home use in India" mstype="2" mssubtype="0"></div> An IPO is the first sale of shares by a private company looking to raise capital from investors and turn itself into a public company. To invest in an IPO, you need to apply to buy a ‘lot of shares’ from the market. The bidding for these IPOs is usually open for three days particularly during market hours. Now, let us understand how to invest in IPOs. A Demat account, a trading application like Zerodha, Angel Broking etc and UPI ID on BHIM app are necessary if you want to invest conveniently in an IPO. Unified payment interface (UPI) is a banking system for money transfers on payment apps like Google Pay, PhonePe and so on. One of the simplest ways to track IPOs and invest in them is through trading platforms. Here’s how you can do it through Zerodha’s Kite application, which is meant for trading stocks and commodities. <ul><li>Login to the mobile app and select the IPO option under console. If you’re logging in through desktop, then go to console -- portfolio -- IPO.</li><li>You will find a list of IPOs that are open for investment. Select the IPO you want to invest in.</li><li>Enter your UPI ID from the BHIM app. Ensure your UPI ID is mapped to your personal bank account. </li><li>Select investor type for your application. </li><li>Enter the lot size (number of shares required to buy in one lot) announced by the company.</li><li>Tick on the cut off price for more chances of allotment of shares as it indicates investor’s willingness to subscribe to shares at any price discovered within the price band. Cut off price is the issue price.</li><li>Retail investors can bid for three lots. </li><li>After this step, click on the check box to confirm and submit.</li><li>The last step is to accept the mandate request for proceeding with IPO on your BHIM UPI app. Once you accept the mandate, the amount of funds for IPO will be blocked till the allotment. </li><li>Now wait till the allotment date of shares to see if you have received the lot size you bid for.</li></ul>Meanwhile you can also invest in Zomato’s pre application offer through Paytm Money Paytm Money has for the first time allowed users to apply for an IPO before the actual IPO opening. This feature is built to help a large proportion of investors who do not trade actively and may miss out during market hours. Basically, a retail investor can plan an IPO order 24x7 on days when a pre-open IPO is enabled. Pre-IPO feature is currently live on Paytm Money’s mobile app. The process to apply in a pre IPO is similar to that of other trading platforms. You just need to fill your investor details, lot size and accept the mandate on BHIM app. Another way to invest is through your bank. This option is generally available between 5 a.m. and 11 a.m. on the bank’s website. Here’s how to do it: <ul><li>Log in to your bank’s net banking account. </li><li>Go to the investment section and select the IPO option.</li><li>Fill your investment and bank account details to complete the verification process.</li><li>Later select the IPO you want to apply.</li><li>Enter the number of shares and bid price.</li><li>Read and accept ‘terms and conditions’ documents. </li><li>Submit your application.</li></ul>SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-raises-3-6-billion-at-a-valuation-of-over-37-billion/articleshow/84338594.cms">Flipkart raises $3.6 billion at a valuation of over $37 billion (businessinsider.in)</a> <a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms">Payments firm MobiKwik files for ₹1,900 crore IPO, reportedly to seek $1 billion valuation | Business Insider India</a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/news/top-10-richest-people-in-the-world/articleshow/74415117.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a><a href="https://www.businessinsider.in/business/startups/news/payments-firm-mobikwik-files-for-1900-crore-ipo-reportedly-to-seek-1-billion-valuation/articleshow/84347520.cms"></a>

You Searched For "zerodha users" and got 8 results

Billionaire broker Nikhil Kamath buys home, leaves internet debating on renting vs. owning a house

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Zerodha app goes down – company acknowledges issue as users complain on social media

Sourabh Jain

Paytm’s pioneering Soundbox and QR code images go viral on social media, highlighting the widespread adoption of Paytm

Insider Studios

Cloudflare outage affects Zerodha, Discord, Valorant and more – here’s how Twitter reacted

Sourabh Jain

Tesla investor, Zerodha founder invest in a smart ‘upliance’ that can chop, stir and cook

Vaamanaa Sethi

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

Navdeep Yadav

Tech-enabled broking firms like Zerodha raise concerns over SEBI’s views on algo trading

Bhakti Makwana

Zomato IPO: Here’s how to apply via banks and apps like Zerodha, Paytm Money

Bhakti Makwana

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