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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.

Exclusive: Zerodha Fund House in talks to raise up to $100 Mn

EntrackrEntrackr · 1y ago
Exclusive: Zerodha Fund House in talks to raise up to $100 Mn
Medial

Stock broking space has turned hyper competitive in the past two years and the players in the space have been diversifying into more investment products. After Groww, launched its own mutual fund, stock broking major Zerodha and Smallcase created a joint venture – Zerodha Fund House – to float an asset management company or a mutual fund in 2023. Now, Zerodha Fund House is eyeing external investment, said three sources aware of the details of the conversation. “They are in preliminary discussions with several investors to raise up to $100 million for the AMC business,” said one of the sources requesting anonymity. For the uninitiated, this would be a first for the Zerodha Group to seek external fundraise ever. The Kamath brothers-owned stock-broking company has been bootstrapped since 2010. “The talks are exploratory in nature and Zerodha Fund House may take months to finalize the deal,” said another source who also wished not to be named as this person isn’t authorized to speak to the media. Zerodha Fund House is managed by an entity named Zerodha Assets Management Private Limited. According to the data sourced from the startup data intelligence platform TheKredible, Zerodha Broking owns 70% of the share capital while the remaining stake belongs to Smallcase. Zerodha Fund House launched its two index funds: Zerodha Nifty LargeMidcap 250 Index Fund and Zerodha ELSS Tax Saver Nifty Large MidCap 250 Index Fund with a portfolio of 250 Indian companies. The company also launched its Liquid [with an asset under management (AUM) of Rs 311 crore] and Gold ETF with an AUM of Rs 35 crore. According to sources, Zerodha got into the AMC business as it wants to assemble different pieces of wealth management along with its core stock broking business. Queries sent to Zerodha Fund House and Smallcase on Monday didn’t elicit any response. We will update the story in case they respond. The stock breaking space has been witnessing fierce competition with four major players: Zerodha, Groww, AngelOne and Upstox. Groww surpassed Zerodha in terms of users in October last year. Interestingly, all four players were profitable in the fiscal year ending March 2023.

Mobikwik secures SEBI nod to launch stockbroking operations

EntrackrEntrackr · 13d 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.

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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