Groww now handles nearly half of India’s new SIP registrations

Groww accounted for nearly half of new systematic investment plan (SIP) registrations in India during the recent quarter, the company told a major financial publication. Direct mutual fund assets on its platform grew significantly year-on-year, reaching a substantial figure by the end of the period, up from a lower base earlier in the year.

The figures mark a deliberate expansion beyond broking, where Groww already holds a leading position. Earlier coverage showed the platform capturing a majority share of India’s net new active broking clients in a recent month, further extending its market dominance. Its consolidated net profit for a recent quarter rose sharply, while revenue also saw strong growth.

Groww’s push into mutual funds suggests it is betting on stickier, higher-margin products as competition in equities intensifies. Whether the platform can replicate its broking success in wealth management remains to be seen, but the scale of its existing customer base provides a notable advantage.

Sources: economictimes.indiatimes.com