Gujjus: Dominating the Financial World
In a recent revelation by Zerodha CEO Nithin Kamath, it has come to light that the financial world is being dominated by a specific group – the Gujjus. Statistical data shared by Nikhil Kamath shows that Mumbai led the way with 64.28% of equity trade deliveries in November 2024, while Ahmedabad contributed 17.53% during the same period.
The Real Money is with Gujjus
Nithin Kamath, the co-founder and CEO of Zerodha, recently made a bold statement on social media, claiming that the ‘real money is with Gujjus’. He pointed out that a significant portion of equity delivery trades comes from Ahmedabad and Mumbai, with these areas accounting for a whopping 80% of such trades. Kamath emphasized that the term ‘Gujjus’ is commonly used to describe individuals from Gujarat.
In his post, Kamath highlighted, “Ahmedabad and Mumbai account for 80% of equity delivery trades. Let that sink in. Essentially, the real money is with Gujjus.” However, he also noted that despite this dominance, Gujarat only represents 8% of the total registered investors, and this percentage has been decreasing.
Gujarat’s Impressive Market Participation
Back in September, Kamath had drawn attention to Gujarat’s significant market participation, particularly in the realm of IPO involvement. He mentioned that although Gujarat only makes up about 9% of the total investor customer base, they contribute a substantial 40% to IPO participation in both retail and HNI categories.
The data analysis conducted by Zerodha’s founder revealed that Gujarat-based retail investors secured 39.3% of retail category allocations, with Maharashtra and Rajasthan trailing behind at 13.5% and 10.5% respectively. The geographical breakdown of IPO participants indicated that around 70% of investors hailed from four primary states: Gujarat, Maharashtra, Rajasthan, and Uttar Pradesh.
According to the research findings shared by Nithin Kamath, Gujarat represents approximately 9% of the overall investor customer population, showcasing the significant impact of Gujjus in the financial world.