India, July 3 -- Zerodha cofounder and CEO Nithin Kamath believes that Jio Financial Services' (JFS) entry into the stockbroking space doesn't pose as much threat to the company as first-time founders.

"I still feel our real competition is going to be more from first-generation founders who are running, breathing, and always thinking about broking," Kamath said in a post on X. "I somehow don't feel it (the competition) is really going to be from incumbents."

Kamath was expressing his views on the JFS-BlackRock joint venture getting a broking licence from SEBI.

Calling the entity's entry a "great news", Kamath said that Jio "probably" has the "distribution might" to further expand the participation in Indian retail investor market beyon...