Given this context, we recently hosted Mr. Nithin Kamath, founder and CEO of Zerodha to meet with institutional investors. Additionally we also spoke with 5 PAISA on their plans. Our interactions gave us valuable insights on the industry. The equity broking industry is getting disrupted with the rapid rise of discount brokers in general and Zerodha in particular. Within just 5 years Zerodha has clocked 15% volume market share. 5 PAISA, the second largest discount broker is now around 1.3% of the overall market. Zerodha now has the largest active customer base of ~0.9mn