Zerodha Founder and CEO Nithin Kamath regularly takes a dig at some practices of his rival broking firms. A few days ago, he posted a series of tweets to say that Zerodha does a valuation exercise every year but only for ESOP buyback, not for external fund raising. It came two days after reports stated that rival Upstox was set to become a unicorn after the latest funding round. More recently, he said Zerodha does not offer the feature of pre-IPO orders since those are “not in spirit” of the regulations and destroys the sanctity of the book-building process. Incidentally, Paytm Money had launched a feature that allowed its clients to bid in an IPO before the issue opened. Further, at a time when high-valued start-ups are lining up their public issues, Kamath wondered how a company can outperform on the back of “already really high expectations”. The tattooed Kamath has been at the receiving end, too. Zerodha has faced brickbats on Twitter over technical glitches in its trading app, Kite. Kamath was also forced to clarify on his post that made many believe that he, along with his wife and brother, would draw a salary of Rs 100 crore. He took to social media to clarify it’s an enabling resolution and their actual salaries are much lower. Twitterati had a field day, though.
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