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The Economic Times
The Economic Times
Akash Podishetti

Zerodha turns 16: Nithin Kamath says user additions slowing, MF business 'slipped up a little'

Nithin Kamath Zerodha United States KITE

Zerodha founder and CEO Nithin Kamath said the brokerage business has had a difficult couple of years, with market activity slowing after Indian equities peaked in September 2024 and regulatory changes hurting revenue. In his annual note to customers as Zerodha turned 16, Kamath said the pace of new user additions and overall trading activity has slowed sharply as the bull market has taken a pause.

Kamath said Zerodha's active customer market share and demat account share may have reduced, but its retail AUM share has continued to grow. He said the AUM number reflects customer trust.

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