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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.

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 in talks to raise $200 Mn in pre-IPO round

EntrackrEntrackr · 3m ago
Groww in talks to raise $200 Mn in pre-IPO round
Medial

News All Stories Groww in talks to raise $200 Mn in pre-IPO round: Report Groww was last valued at approximately $3 billion after securing $251 million in its Series E round in October 2021 and has not raised any new funding since. Shashank Pathak 26 Mar 2025 09:54 IST Follow Us New Update Stock broking company Groww is in discussions to raise $200 million ahead of its initial public offering, which is likely to hit the stock exchange by the end of the year or early next year. The Economic Times, which first reported the development first, said that Groww has held discussions with Singapore’s sovereign wealth fund GIC, as well as existing investor Tiger Global, for the fundraise. The deal could value the Bengaluru-based startup at around $6.5 billion. Groww has raised close to $400 million so far from prominent investors, including Peak XV, Tiger Global, Ribbit Capital, and YC Continuity. The company was last valued at approximately $3 billion after securing $251 million in its Series E round in October 2021 and has not raised any new funding since. Earlier this year, media reports suggested that Groww is targeting to raise around $1 billion in the IPO, with a valuation goal between $6 billion and $8 billion. Groww is the leading stockbroking company in India, with more than 13 million monthly active users as of February. 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.

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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