Nithin Kamath Jio Story: Why the Zerodha Founder Recalls a 2015 List He Shared with Mukesh Ambani

The Nithin Kamath Jio post arrived on the first day of the Rs 30,213 crore Jio Platforms issue, and Business Today ran it under a headline that quotes him saying he remembers being petrified. The 2015 listing in that headline is a ranking, an Economic Times list of 10 businessmen to watch in 2016. Kamath said he was surprised to be on it, since Zerodha was much smaller than it is now, and he linked his place to Zerodha having recently made delivery brokerage free.

This article on the Nithin Kamath Jio post covers what he said, why the investor numbers matter, the context of the Jio issue and what to watch next. It is educational and not a recommendation to apply for the issue or to buy or sell any share.

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What the Nithin Kamath Jio Post Said

Detail	What the report says
Source of the Nithin Kamath Jio story	Business Today report published on 21 Oct 2026 at 11:43 AM IST
The 2015 list in the Nithin Kamath Jio post	An Economic Times list of 10 businessmen to watch in 2016
Ranking in the Nithin Kamath Jio story	Mukesh Ambani first and Nithin Kamath sixth
Reason Kamath gave for his place	Zerodha had recently made delivery brokerage free
Nithin Kamath Jio quote on scale	'We were, and still are, ants compared to Reliance and Jio'
Credit in the Nithin Kamath Jio post	Aadhaar and UPI, and Jio and Airtel for affordable mobile data
Investor numbers in the Nithin Kamath Jio post	About 2 crore unique investors in 2016 and over 13 crore today
Nithin Kamath Jio view on applying	He could not advise whether to apply

The Nithin Kamath Jio post closed with the point that business success depends heavily on infrastructure built by others. The report also says he noted that the capital markets built by telcos could now help Jio raise money, which is a reference to the large fresh issue now open for bids.

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Why the Nithin Kamath Jio Post Matters for Indian Investors

Measure	2016	Today	Change
Unique investors cited in the Nithin Kamath Jio post	About 2 crore	Over 13 crore	About 6.5 times (my calculation)

The core of the Nithin Kamath Jio post is the link between affordable data and market participation. He said the digital infrastructure of the past decade made the expansion of Indian capital markets after COVID possible and that 'Jio played a big part'. These are his figures and his view. I did not check the investor counts against exchange data, and different sources count unique investors and accounts differently.

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Risk: A founder's recollection is useful context, but it is not data, so treat the 2 crore and 13 crore figures as his statement until you check them against NSE, BSE or depository figures.

Jio Issue Context Behind the Nithin Kamath Jio Post

Item	Detail
Issue size	About Rs 30,213 crore, a fresh issue of 27 crore shares
Price band	Rs 1,065 to Rs 1,119 per share
Lot size	12 shares, or Rs 13,428 at the upper band
Bidding closes	5 PM on Friday 23 Oct 2026
Proposed listing	28 Oct 2026 on NSE and BSE
Stance in the Nithin Kamath Jio post	No advice on whether to apply

The same Business Today page carries headlines on the issue being fully subscribed within 100 minutes, while the link for that headline says 40 minutes. The two do not match, and other reports I read put the speed at about 95 minutes (my calculation from the 9:00 AM open and 10:34 AM figure). The report I read does not give the issue terms itself, so the table above comes from separate reports.

Risk: The remarks in the Nithin Kamath Jio post are about infrastructure and scale, not about the value of the issue, and the headline's framing is more promotional than his statement that he could not advise on it.

Grey Market Premium and Listing Date for Jio Platforms

Grey market premium (GMP) is an unofficial, unregulated indicator for the Jio Platforms IPO that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data can go through other relevant sources, though such figures should never be the sole basis for an investment decision.

The listing on NSE and BSE is proposed for 28 Oct 2026, after the basis of allotment on 26 Oct. Dates after the close can change, so use the registrar and exchange notices.

What to Watch Next After the Nithin Kamath Jio Post

1. The final subscription figures for the Jio issue after the 5 PM close on 23 Oct
2. Any further comment from Kamath or other broker founders on the Jio issue after the Nithin Kamath Jio post
3. Exchange and depository data on unique investors, to check the 13 crore figure
4. The basis of allotment on 26 Oct and the proposed listing on 28 Oct

Conclusion

The Nithin Kamath Jio post is a founder's reflection on a 2015 ranking, with Mukesh Ambani first and Kamath sixth, and on how affordable data helped grow the investor base from about 2 crore to over 13 crore. It does not say whether to apply for the issue, and the Nithin Kamath Jio post states that he could not advise on that. Read the offer document and decide on your own risk limit.

Frequently Asked Questions

What did the Nithin Kamath Jio post say?

Ans. The Nithin Kamath Jio post said Zerodha was and still is small compared with Reliance and Jio, and he credited Jio and Airtel for making mobile data affordable and bringing millions online. He said over 13 crore Indians invest in the markets today against about 2 crore in 2016, and that Jio played a big part in that.

What is the 2015 listing in the Nithin Kamath Jio story?

Ans. It is a ranking and not a stock market listing. The post showed an Economic Times list of 10 businessmen to watch in 2016, published in 2015, where Mukesh Ambani was first and Nithin Kamath sixth.

Did the Nithin Kamath Jio post say whether to apply for the issue?

Ans. No. Kamath said he could not advise on whether to apply. He noted only that the capital markets built by telcos could now help Jio raise money.

Why was Nithin Kamath on the 2015 list with Mukesh Ambani?

Ans. Kamath said he was surprised to be on it, since Zerodha was much smaller than it is now. He linked his place to Zerodha having recently made delivery brokerage free.

What is the grey market premium for Jio Platforms?

Ans. Grey market premium (GMP) is an unofficial, unregulated indicator for the Jio Platforms IPO that is not endorsed by SEBI, NSE, or BSE. Investors looking for indicative GMP data can go through other relevant sources, though such figures should never be the sole basis for an investment decision.

Is Zerodha a listed company with a share price?

Ans. As far as I know, Zerodha is a private company and not listed on the exchanges, so it has no share price. The word listing in the story means the 2015 ranking, and you should check company filings for any change.

When does the Jio issue close and list?

Ans. Bidding closes at 5 PM on 23 Oct 2026, the basis of allotment is expected on 26 Oct and listing on NSE and BSE is proposed for 28 Oct. The price band is Rs 1,065 to Rs 1,119 and the lot size is 12 shares.

Is this article investment advice?

Ans. No. It is educational and not a recommendation to buy or sell. Please check the figures against company filings and your own risk profile before you act on anything you read here.