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Groww retains lead in stock broking amid falling user base in September

EntrackrEntrackr · 2m ago
Groww retains lead in stock broking amid falling user base in September
Medial

Groww retains lead in stock broking amid falling user base in September India’s active stock market users fell 1.92% in Sept to 45.31M after a brief rebound; IPO-bound Groww led with 11.91M users, down 1.36% MoM. The Indian stock market’s active user base, after rebounding in August 2025 with 0.5% growth to 46.19 million clients, fell once again in September 2025 by 1.92% to 45.31 million clients. IPO-bound Groww maintained its leadership in the stockbroking space with 11.91 million active users and a 25.78% market share, though its user base slipped 1.36% month-on-month from 12.07 million in August. Zerodha retained the second spot with a 15.34% market share and 7.09 million active clients, followed closely by Angel One with 6.89 million clients and a 14.91% share. Both brokers recorded month-on-month declines of 2.43% and 2.28%, respectively. Upstox witnessed another sharp month-on-month decline of 4.24%, taking its active client base down to 2.28 million and its market share to 4.93%. Among traditional stock brokers, ICICIDirect with 1.97 million users (4.28% share), HDFC Securities with 1.52 million (3.28%), and Kotak Securities with 1.41 million (3.05%) maintained their positions at fifth, sixth, and seventh place respectively. Recently turned unicorn Dhan, which raised $120 million at a $1.2 billion valuation, maintained its position at the ninth spot with a 2.12% market share and 9.8 lakh active clients despite a 0.97% month-on-month decline. Paytm Money, with 7.8 lakh users and a 1.68% market share, moved up to the 11th position after registering 2.28% month-on-month growth, while INDmoney slipped to 12th with 7.4 lakh users and a 1.60% share following a 3.86% decline. Mirae Asset saw the largest month-on-month jump of 12.35% reaching 3.3 lakh active users, while PhonePe’s Share.Market recorded a further decline of 5.29% to 2.9 lakh users.

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Groww continues to lead stock broking space in July; PhonePe’s Share.Market dips 6%

EntrackrEntrackr · 4m ago
Groww continues to lead stock broking space in July; PhonePe’s Share.Market dips 6%
Medial

Groww continues to lead stock broking space in July; PhonePe’s Share.Market dips 6% The Indian stock market’s active user base has declined for the second consecutive month, falling 4% in July 2025 to 45.96 million from 47.89 million in June. The active user base had peaked at 49.67 million in January this year. Groww retained its lead with a 26.87% market share and 12.35 million active clients, despite a 1.81% month-on-month decline from 12.58 million in June, according to NSE data. Zerodha held the second spot with a 16.17% market share and 7.43 million users. However, it also saw a 2% month-on-month drop from 7.58 million in June. Angel One closed the gap with Zerodha with a 15.66% market share and 7.2 million users, experiencing a 1.68% month-on-month drop. Ratan Tata-backed Upstox held the fourth position and witnessed a steep 3.77% drop in its user base this month. It has a 5.38% market share with 2.47 million clients. Among traditional brokers, ICICIDirect (1.96 million users), HDFC Securities (1.57 million), and Kotak Securities (1.44 million) remained steady with market shares of 4.26%, 3.43%, and 3.14%, respectively. Emerging broker Dhan moved up to the ninth position with a 2.17% market share and one million users. INDmoney ranked 11th with a 1.76% market share and 0.81 million clients. Paytm Money’s client base grew 3% month-on-month to 0.75 million, holding a 1.62% market share. In contrast, Sharekhan’s user base declined 2.70% to 0.61 million. Mirae Asset (0.42 million users) and PhonePe's Share.Market (0.33 million) saw the steepest declines in user base with a drop of 8% and 6% respectively.

Groww strengthens lead in stock broking space in November as Zerodha sees further decline

EntrackrEntrackr · 12d ago
Groww strengthens lead in stock broking space in November as Zerodha sees further decline
Medial

url: https://entrackr.com/fintrackr/groww-strengthens-lead-in-stock-broking-space-in-november-as-zerodha-sees-further-decline-10897857 Content: Amid a slowdown in India’s retail broking industry, overall active users remained flat in November at 4.5 crore (45 million). Groww continued to dominate with a 26.84% market share and recorded marginal user growth, while Zerodha, Angel One and others saw a decline in clients. Recently listed wealth-tech platform Groww was one of the only major players to record growth in November 2025. According to NSE data, Groww added around 42,000 active demat accounts during the month, keeping its total client base at around 1.2 crore (12 million). As of 12:13 PM today, Groww’s share price is trading at around Rs 143 per share, with a market capitalization of Rs 88,436 crore or roughly $10 billion. Among major brokers, Zerodha saw the biggest drop in users this month, shedding nearly 1 lakh clients. Its total user base is now 69.24 lakh with a 15.38% market share. Angel One is close behind with a 15.09% share and 67.95 lakh clients after losing over 55,000 users in November. Upstox, at the fourth spot, also lost more than 65,000 accounts and now has a 4.78% market share with 21.52 lakh clients. Among traditional players, ICICI Securities and SBI Caps added around 19,000 and 30,000 accounts, respectively. Paytm also gained about 22,000 new accounts, while most other brokers, including HDFC and Kotak Securities, saw declines. Emerging brokers continued to show mixed trends. Recently turned unicorn Dhan maintained a steady user base of 9.8 lakh with a 2.18% market share, while INDmoney and PhonePe’s Share.Market saw month-on-month declines of 2.84% and 4.28%, respectively. Between January and November 2025, active demat accounts across major brokers dropped from a peak of 4.96 crore (49.64 million) to 4.50 crore (45 million), reflecting a broader slowdown in market participation.

Groww maintains lead over Zerodha and Angel One amid user base decline in June

EntrackrEntrackr · 5m ago
Groww maintains lead over Zerodha and Angel One amid user base decline in June
Medial

Groww maintains lead over Zerodha and Angel One amid user base decline in June The Indian stock market’s active user base has declined from a peak of 49.67 million in January to 47.89 million in June. However, it grew 2% month-on-month in the previous month, from 46.93 million in May. Groww maintained its leading position in overall active users with a 26.27% market share, despite a 1.67% drop in its user base, which declined to 12.58 million in June from 12.79 million in May, according to NSE data. Meanwhile, rival Zerodha retained its second spot with a 15.58% market share and 7.58 million users. However, it saw a 2.23% month-on-month decline from 7.75 million users in the previous month. Angel One holds the third spot with a 15.28% market share and 7.32 million users, narrowing the gap with Zerodha. Other major brokers, Upstox and ICICIdirect, held on to the fourth and fifth positions, respectively. Ratan Tata-backed Upstox (5.37% market share) saw a 3.36% decline in its user base to 2.57 million, while ICICIdirect (4.07% market share) maintained a steady user base of 1.95 million. Among traditional brokers, HDFC Securities (1.58 million users) and SBI Securities (1.01 million) recorded month-on-month growth of 1.32% and 1.65%, respectively. In contrast, Kotak and Motilal Oswal saw declines of 0.86% and 1.07%, respectively. Emerging broker Dhan retained its 10th position with 1 million users and a market share of 2.08%. Paytm Money’s user base grew by 2.74% to 7.24 lakh, while Sharekhan’s client base declined by 2.46% to 6.25 lakh. Both remained among the top 20 stock brokers. On the other hand, PhonePe’s Share.Market appears to be losing ground, with its user base declining by 3.52% in June to 3.47 lakh users.

Groww widens lead over Zerodha in Oct despite market slowdown

EntrackrEntrackr · 1m ago
Groww widens lead over Zerodha in Oct despite market slowdown
Medial

Groww widens lead over Zerodha in Oct despite market slowdown Amid a slowdown in India’s retail broking industry, wealth-tech platform Groww was the only major player to record growth in October 2025. According to NSE data, Groww added 1.38 lakh active demat accounts during the month, taking its total to 1.2 crore (12 million). Other leading discount brokers saw a decline in active users. Zerodha and Angel One reported drops of 62,000 and 34,000 accounts, respectively, while Upstox lost about 59,000. The total number of active demat accounts across the top 25 brokers slipped 0.13% in October, indicating a phase of consolidation in the retail investing segment. Among traditional players, ICICI Securities and SBI Caps added 13,000 and 25,000 accounts, respectively. Paytm gained around 30,000 new accounts, while most other brokers, including HDFC and Kotak Securities, reported small declines. Digital-first platforms continue to lead the broking market, with Groww, Zerodha, and Angel One together holding over 57% of NSE demat accounts. Groww accounts for about 26.6% of the total, highlighting its growing share among retail investors. Between July and October 2025, the number of active demat accounts across leading brokers fell from 4.72 crore (47.2 million) to 4.52 crore (45.2 million), reflecting the slowdown after the post-pandemic expansion. The rate of decline has eased, pointing to early signs of stabilization in the market. Groww’s continued growth indicates steady user additions despite the broader industry slowdown.

Mobikwik secures SEBI nod to launch stockbroking operations

EntrackrEntrackr · 5m ago
Mobikwik secures SEBI nod to launch stockbroking operations
Medial

Mobikwik secures SEBI nod to launch stockbroking operations Fintech firm Mobikwik has received approval from the Securities and Exchange Board of India (SEBI) to operate as a stockbroker and clearing member through its wholly owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL). The regulatory clearance, granted under SEBI’s Stock Broker Regulations, 1992, allows the company to buy, sell, and deal in securities on behalf of clients, as well as carry out clearing and settlement of trades. MSBPL may also undertake other exchange-approved activities. Mobikwik had incorporated MSBPL in March 2025, marking its formal entry into the capital markets ecosystem. With this move, the company joins the crowded stock broking space dominated by platforms such as Groww, Zerodha, AngelOne, Upstox, and ICICI Direct. Groww currently leads the sector in terms of active user base, followed by Zerodha and AngelOne. The development signals Mobikwik’s continued push to diversify beyond payments into broader financial services. Soon after launching MSBPL, the company set up a wholly owned NBFC subsidiary, while another subsidiary, Zaakpay, received RBI approval to operate as a payment aggregator.

Mobikwik enters stock broking biz with new subsidiary

EntrackrEntrackr · 9m ago
Mobikwik enters stock broking biz with new subsidiary
Medial

Mobikwik enters stock broking biz with new subsidiary Fintech firm Mobikwik is entering the securities broking space with the launch of its wholly owned subsidiary, Mobikwik Securities Broking Private Limited (MSBPL). The company has received approval from the Ministry of Corporate Affairs, as disclosed in a recent filing with the National Stock Exchange (NSE). With this move, Mobikwik aims to broaden its financial services portfolio by offering stock and commodity brokerage services. According to the disclosure, MSBPL will engage in trading shares, stocks, securities, debt instruments, commodities, currencies, and derivatives. The subsidiary also plans to acquire memberships with stock and commodity exchanges both in India and internationally. Mobikwik Securities Broking Private Limited has been set up with an initial capital of Rs 1 lakh, while the parent company plans to infuse an additional Rs 2 crore in one or more tranches. With this move, the company will enter the crowded stock broking space, which is currently dominated by players like Zerodha, Groww, and AngelOne. At present, Groww leads the pack with the highest number of active users, followed by Zerodha, AngelOne, Upstox, and ICICI Direct. MobiKwik’s registered user base has grown to 172 million, along with a merchant network of 5 million, the company said in the last quarter. The company’s payment GMV doubled year-on-year to Rs 29,400 crore. In the third quarter of the current fiscal year, MobiKwik reported revenue of Rs 269 crore, while its losses stood at Rs 55.2 crore during the same period. MobiKwik’s shares are currently trading at Rs 308 apiece, with a total market capitalization of Rs 2,393 crore (approximately $278 million). The company also hit its 52-week low of Rs 231 on March 17.

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