Groww widens lead as India’s top broker with 60% of new clients

India’s largest retail broker, Groww, extended its lead in September by capturing more than 60% of the country’s net new active broking clients. Inc42 reported that the combined active client base of Indian stockbrokers on the NSE rose by 1.6 lakh to 4.61 crore in September, with Groww accounting for the bulk of those additions.

The numbers confirm a trend StartupReader first noted earlier this month: Groww has become the default choice for first-time investors. Rival Angel One remains in second place, though its growth trajectory appears to differ from Groww’s. Meanwhile, other players in the space continue to vie for market share.

What the data does not show is whether Groww’s dominance is sustainable. The platform’s low-cost, mobile-first model has attracted millions of young investors, but it has yet to prove it can retain them through market downturns or expand into higher-margin products like mutual funds and insurance. Some competitors are exploring technology-driven strategies, including AI, to differentiate their offerings.

For now, Groww’s lead is widening. The question is whether it can convert that lead into durable revenue before the competitive landscape evolves further.

Sources: inc42.com