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Zerodha gets SEBI merchant-banking nod, targets new-age IPO mandates
Zerodha received SEBI approval for merchant banking via Zerodha Corporate Advisors and will initially target IPO mandates from new-age companies. The move diversifies beyond broking amid softer trading revenue, while Zerodha also plans US-stock, NRI and mutual-fund offerings.
FY25 brokerage revenue₹3,066 crore
FY26 brokerage revenue₹2,738 crore
down down 10.4%
Reported figures
From the report. Source details below
| Brokerage revenue: | ₹2,738 Cr in FY26, down 10.4% from ₹3,066 Cr in FY25 |
|---|---|
| Net profit: | ₹4,283 Cr in FY26, up 1.2% from ₹4,231 Cr |
| MTF book: | about ₹9,000 Cr; customer borrowing: about ₹6,000 Cr |
| Groww active clients: | 1.31 Cr in July 2026 |
| Zerodha active clients: | 67.62 Lakh in July 2026 |
| Zerodha NSE active-client share: | 14.88% |
| Assets held on Zerodha platform: | ₹9.05 Lakh Cr in FY26 |
Also in the report
- ₹55 Cr capital infused into merchant banking unit