India, March 11 -- Amid the ongoing correction in the Indian equities market, investment tech unicorn Zerodha's active user base declined to 72.87 Lakh at the end of February from80.82 Lakh as of January 31.

This comes days after Zerodha cofounder and CEO Nithin Kamath said that the company is seeing degrowth in its business for the first time in 15 years. He estimated that there was a 30% decrease in activity across brokers.

"Combined with the true-to-market circular, we are seeing degrowth in the business for the first time since we started 15 years ago," Kamath said in a post on X.

In line with his estimation, market leader Groww's active user base also plunged by about 30% to 95.38 Lakh in February from 1.32 Cr at the end of Januar...