Lemonn, the stock broking platform operated by Nu Investors Technologies Pvt. Ltd. under the PeepalCo Group, reported robust growth across key business metrics in May 2026, reflecting rising retail participation in India's equity markets.
Revenue from operations surged more than 800% year-on-year to Rs 8.97 crore in May 2026 from Rs 99 lakh in the corresponding month last year.
The platform also witnessed a sharp increase in trading activity. Retail order volumes jumped 9.08 times to 27.71 lakh orders from 3.05 lakh a year earlier, while the number of active retail traders rose 5.14 times to 24,309 from 4,722.
Commenting on the performance, Devam Sardana, Business Head at Lemonn, said the company's growth has been driven by its customer-centric approach and focus on building products that address real investor needs.
"Our focus over the past year has been on building products that solve real investor needs, listening closely to customer feedback and continuously refining the investing experience. The strong growth we've seen is a reflection of that customer-first approach. Maintaining this structural discipline puts us on a very clear path to breaking even in the near term," he said.
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Sardana added that over the next two to three years, the company plans to deepen its product offerings while strengthening platform stability to support its rapidly growing user base. The company also highlighted the broad-based nature of its expansion across India, indicating that retail investing is increasingly gaining traction beyond metropolitan cities.
Investors from Tier 3 cities accounted for 42.8% of all retail orders on the platform during May, followed by Tier 2 cities at 36.7%. Tier 1 cities contributed the remaining 20.5%, underscoring the growing adoption of digital investing across smaller towns and cities.
Ashish Singhal, Co-Founder of Lemonn, said the growth reflects a structural shift in India's investment landscape.
"This growth shows a fundamental shift in how India invests. It is encouraging to see how digital investing is maturing and increasingly lowering the entry barrier for the next generation of investors," he said.
Since its launch in 2024, Lemonn has expanded its offerings beyond equity investing to include mutual funds, IPO investments and an advanced futures and options (F&O) trading suite. The company said its continued focus on user-centric product development has been a key driver of customer acquisition and market adoption as retail participation in India's capital markets continues to accelerate.
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