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Groww widens lead over Zerodha in active users; Dhan, INDmoney surge

EntrackrEntrackr · 5m ago
Groww widens lead over Zerodha in active users; Dhan, INDmoney surge
Medial

News All Stories Groww widens lead over Zerodha in active users; Dhan, INDmoney surge Despite its dominant position, Groww's month-on-month (MoM) growth slowed slightly as the platform added only 76,135 new users in January, reflecting a 0.58% increase from December. India’s stockbroking landscape continues to see major shifts as Groww maintains its lead with 13.23 million active users, according to the latest data from January 2025. The platform now holds a 26.66% market share among the stock broking apps. Despite its dominant position, Groww's month-on-month (MoM) growth slowed slightly as the platform added only 76,135 new users in January, reflecting a 0.58% increase from December. As per media reports, the Lalit Keshre-led company is targeting a public listing in 10-12 months, with a valuation goal between $6 billion to $8 billion. Meanwhile, Zerodha, once the market leader in India’s brokerage industry, saw a decline in its user base. The discount broker ended January with 8.08 million active clients, down from 8.12 million in December. This slowdown highlights increasing competition in the sector, with users migrating to newer platforms offering more features and incentives. Angel One, the third-largest broker, also maintained strong numbers, recording 7.77 million active clients with 15.65% market share. However, its M-o-M growth remained modest at 0.18%. Other major brokers, including Upstox and ICICIdirect, continue to hold their positions but with mixed performance. While Ratan Tata-backed Upstox reported 2.86 million active users, ICICIdirect reached 1.95 million clients with a 0.13% growth. Among traditional players, HDFC Securities showed a 2.82% MoM growth whereas Kotak Securities had a marginal increase of 0.08%. Emerging broker Dhan saw one of the highest growth rates. The firm expanded its user base by 3% to 960,668 active clients. Similarly, INDmoney posted a 3.50% MoM growth. While some legacy players such as Sharekhan, Paytm Money, and 5paisa registered a decline in users, newer entrants like Share.Market grew by 6.09%, signaling a shift in investor preferences. When it comes to revenue, Zerodha is the largest player among new-age stockbroking apps, with Rs 9,372 crore in revenue and Rs 5,496 crore in profits in FY24. Groww's revenue surged to Rs 3,145 crore in FY24, while Upstox reported Rs 1,311 crore in revenue with a Rs 190 crore profit. Groww incurred losses due to a one-time tax payment for shifting its domicile.

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Groww hits 13 Mn active users in December, Zerodha's growth slows

EntrackrEntrackr · 6m ago
Groww hits 13 Mn active users in December, Zerodha's growth slows
Medial

Groww hits 13 Mn active users in December, Zerodha's growth slows Groww achieved a significant milestone of 13.16 million active clients in December 2024, translating to a 26.59% market share, according to the latest data from the National Stock Exchange (NSE). The Indian stockbroking industry continues to witness intense competition, with Bengaluru-based fintech unicorn Groww solidifying its dominance. This represents a 2.18% month-on-month (MoM) growth, maintaining its leadership in the sector. Zerodha retained the second position with 8.12 million active users and a 16.41% market share, although its user base shrank marginally by 0.06% MoM. Angel One, ranked third, continues to gain traction, adding 123,018 new users (1.61%) in December for a total of 7.75 million active clients and a 15.67% market share. The combined market share of the top three brokers—Groww, Zerodha, and Angel One—now stands at a commanding 58.67%. Upstox maintained its fourth position with 2.89 million active users and a 5.83% market share followed by ICICIdirect (1.95 million), Kotak Securities (1.5 million), and HDFC Securities (1.42 million). SBI Securities held the ninth spot with 0.98 million, Dhan ranked tenth with 0.93 million active clients. Rising contenders INDmoney remained in the 11th spot with 0.79 million active clients with 8.13% month-on-month growth. Share.Market, PhonePe’s brokerage platform, recorded the highest monthly growth of 8.97%, reaching 0.32 million active users. Last month, INDmoney overtook Paytm Money and ShareKhan in terms of active clients and captured the eleventh spot. In contrast, several players, including Paytm Money (-1.27%), ShareKhan (-0.55%), and Mirae Asset (-1.42%), saw declines in their active user base. Notably, 5paisa experienced the steepest drop among the top brokers, losing 3.35% of its active clients in December. By December 2024, the Indian stockbroking industry is flourishing with both traditional and digital-first firms. Groww remains a leader in attracting users, while new competitors like Share.Market, INDmoney, and Dhan are creating a dynamic and competitive market.

Groww nears 13 Mn active users in November, INDmoney overtakes Paytm Money

EntrackrEntrackr · 7m ago
Groww nears 13 Mn active users in November, INDmoney overtakes Paytm Money
Medial

Bengaluru-based fintech unicorn Groww continues to dominate the Indian stockbroking space, expanding its lead over competitors by achieving a milestone of 12.88 million active clients in November 2024. This translates to a commanding 26.35% market share, according to the latest data from the National Stock Exchange (NSE). Groww added 2,82,577 new users in November alone. The Lalit Keshre-led company surpassed Zerodha in October last year and has maintained its leading position ever since. Zerodha retained its second position with 8.12 million active users, accounting for 16.62% of the market share. Angel One, ranked third, has 7.63 million active clients and a 15.61% market share, closely following Zerodha. Angel One's consistent growth suggests it could potentially challenge Zerodha’s position in the near future. Upstox, the fourth-largest broker, had 2.87 million active users in November with 5.88% of the market. ICICI Direct secured the fifth spot with 1.94 million users and a 3.97% market share. Key performers in the top 10 include Kotak Securities with 1.48 million active users (3.03% market share), HDFC Securities with 1.38 million active users (2.81% market share), Motilal Oswal with 1.02 million active users (2.08% market share), SBI Securities with 0.98 million active users (2.01% market share), and Dhan with 0.89 million active users (1.83% market share). Outpacing Paytm Money and Sharekhan, INDmoney captured the 11th spot, with 7,32,437 users (1.50% market share). Paytm Money and Sharekhan are next with 7,15,020 and 7,07,984 users, respectively. Mirae Asset, 5paisa, and IIFL Securities are also among the top 15. Notable players such as PhonePe’s Share.Market and FYERS, are contributing to the vibrant competition in the space. The combined market share of the top three brokers—Groww, Zerodha, and Angel One—stands at over 58.58%. Traditional players like ICICI Direct, Kotak Securities, and HDFC Securities continue to hold ground against discount brokers.

Pravin Jadhav-led Dhan storms into top 10 stock broking apps

EntrackrEntrackr · 10m ago
Pravin Jadhav-led Dhan storms into top 10 stock broking apps
Medial

Dhan, launched by former Paytm Money executive Pravin Jadhav, has entered the top 10 list of stockbroking apps in India. Launched in January 2021, Dhan has also knocked out Paytm Money from the top 10 list. With 1.2 crore active users in August, Groww is the market leader followed by Zerodha and AngelOne. Upstox and ICICI Direct are number 4th and 5th player with 26.62 lakh and 18.89 lakh active users, respectively. Groww took over Zerodha in October last year and since then, it has maintained the numero uno position. According to NSE data, Dhan had 740,000 (7.4 lakh) active users as of August, while Paytm Money had 730,000 (7.3 lakh) active users. AngelOne may surpass Zerodha in the coming months, as the listed firm had 710,000 (7.1 lakh) active users in August, compared to Zerodha 790,000 (7.9 lakh). One of the newest entrants PhonePe’s Share.Market is also gaining traction and currently stands at 21st spot with over 2 lakh active investors during the last month. That said, Dhan is reportedly in talks to raise a large round. Operating under Raise Financial Services, the company last raised $22 million in January 2022. BEENEXT, Mirae Asset, 3one4 Capital, and Rocketship.vc are its major investors. Dhan has also been profitable from the second fiscal year of its operations. While the company is yet to disclose FY24 numbers, it turned profitable in FY21 with over Rs 7 crore profit after tax (PAT).

Groww expands lead over Zerodha with 12.59 Mn active users in October

EntrackrEntrackr · 8m ago
Groww expands lead over Zerodha with 12.59 Mn active users in October
Medial

Bengaluru-based stock broker Groww has surpassed the 1.25 crore (12.59 million) mark in active traders in October, driven by the addition of around 3.5 lakh users in a single month, according to data from the National Stock Exchange (NSE). Zerodha, Groww’s closest competitor, had approximately 80.6 lakh (8.06 million) active investors as of last month. Groww overtook Zerodha in October last year and has held the top position ever since. As per the NSE’s data, Groww has nearly doubled its user base over the past year, whereas Zerodha added just 15 lakh new users. Angel One, the third-largest stockbroker, has 75 lakh (7.53 million) active users and may surpass Zerodha in the coming months. Upstox ranked fourth, had 28.52 lakh (2.85 million) users as of last month. ICICI Direct is the fifth largest player in this space with 19.3 lakh active users (1.93 million). Dhan, launched by former Paytm Money executive Pravin Jadhav, had 8.49 lakh (0.84 million) users as of October. Dhan entered the top 10 list of stockbroking apps in India in August this year, replacing Paytm Money. INDmoney and PhonePe's Share.Market are the new entrants in the top 20 list with 6.7 lakh (0.67 million) and 2.69 lakh (0.26 million) respectively. In terms of scale, Zerodha had the highest revenue in FY24 at Rs 8,370 crore, followed by Angel One, which reported Rs 4,272 crore in revenue for the last fiscal year. Nithin Kamath’s Zerodha reported a profit of Rs 2,907 crore, while Angel One’s profits exceeded Rs 1,125 crore in FY24. Groww’s revenue from operations surged to Rs 3,145 crore in FY24. The Lalit Keshre-led company recorded a net loss of Rs 805 crore in FY24, primarily due to a one-time tax payment of Rs 1,340 crore for relocating its domicile to India. Despite this, the firm remained operationally profitable. Upstox, which posted over Rs 1,000 crore in revenue in FY23, has yet to file its annual report for FY24.

Dhan swings to profit in FY24 with gross revenue of Rs 380 crore, up 600% year-on-year

Economic TimesEconomic Times · 9m ago
Dhan swings to profit in FY24 with gross revenue of Rs 380 crore, up 600% year-on-year
Medial

- Stock broking startup Raise Financial Services (Dhan) has reported gross revenues of Rs 380 crore for 2023-24, up 600% from the previous year. - Dhan reported a net profit of Rs 155 crore compared to a net loss of Rs 22 crore in the previous fiscal. - The company expects a 25-30% impact on its gross revenue due to recent regulatory actions on the futures and options market. - Dhan has about 740,000 active traders, making it one of the top 10 stock brokers in India in terms of active traders. - The company is in talks with potential investors to raise fresh venture funding and plans to go public in the next three to five years. - Other discount brokers like Zerodha and Groww have also performed well, with Zerodha reporting a 61% YoY jump in net profit and Groww reporting a net profit of Rs 297 crore in its broking business for the fiscal.

Groww and Zerodha user base shrinks in February, PhonePe gains

EntrackrEntrackr · 4m ago
Groww and Zerodha user base shrinks in February, PhonePe gains
Medial

For the first time in the past year, the number of registered users on these platforms declined, slipping by 1.37% to 48.97 million in February, down from 49.64 million in January. Groww retained its top position in overall active users with a 26.57% market share, despite a 1.68% decline in its user base, which fell to 13.01 million in February from 13.23 million in January, according to NSE data. Meanwhile, Zerodha, the second-largest brokerage who holds 16.25% market share, also witnessed a 1.55% month-on-month decline, with its active client base dropping to 7.96 million in February from 8.08 million in January. Angel One, the third-largest broker, saw a 1.53% decline in its user base, ending February with 7.65 million active clients and a 15.62% market share. The decline in user numbers across platforms can be attributed to sluggish market conditions over the past few months. Other major brokers, including Upstox and ICICIdirect, retained their 4th and 5th positions, respectively, but also saw a drop in active users. Upstox, backed by Ratan Tata, reported 2.79 million active users with a 5.70% market share, down 2.42% month-on-month. Similarly, ICICIdirect's active user base declined by 0.57% to 1.94 million. Among traditional players, HDFC Securities bucked the trend, recording a 1.97% MoM growth, while Kotak Securities saw a 0.93% decline, ending February with 1.49 million users. Motilal Oswal and SBI Securities maintained their 8th and 9th positions, respectively, with 1.02 million and 0.98 million active users, holding market shares of 2.08% and 2.01%, respectively. On the other hand, PhonePe’s Share. Market saw one of the highest growth rates among emerging brokers, expanding its user base by 2.58% to 0.35 million active clients. Other rising platforms, Dhan and INDmoney, also increased their user bases by 0.70% and 1.12% MoM, respectively.

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