Private EquityScreenerRefer

MARKET INSIGHTS

  • EventsNEWPrivate market milestones
  • NewsPrecize daily pulse
  • BlogsIn-depth articles and opinions

GUIDES

Explore Now
  • Unlisted SharesStep-by-step · KYC
  • BuyingStep-by-step · KYC
  • SellingExit in 24 - 48 hours
  • Pre-IPOReturns · risks · case studies
  • Tax GuideBudget 2026 changes
  1. Home
  2. Unlisted share news
  3. IPO-bound Groww leans on wealthier clients, diversification to offset d…

IPO-bound Groww leans on wealthier clients, diversification to offset derivatives slowdown

23 Sept 2025

Add as preferred source
Key Takeaways

For investors Groww shows high profitability, strong SIP market share, and diversified revenue, but faces near-term headwinds from regulatory impact on F&O trading.

For investors Groww shows high profitability, strong SIP market share, and diversified revenue, but faces near-term headwinds from regulatory impact on F&O trading.

groww unlisted shares

Groww (Billionbrains Garage Ventures)

Listed0.00%

Expert Analysis

IPO-bound Groww banks on affluent clients and diversification to counter derivatives slowdown.

Expert Analysis:

  • SIP & User Growth: Groww created 2 million of India’s 6 million new SIPs in June 2025 (~33% share) and drove 45% of net active user additions from June 2024–June 2025, even as NSE active users fell from 13 million to 12 million.

  • IPO & Performance: Groww filed for a Rs 6,000–7,000 crore IPO with Rs 1,060 crore for growth. FY25 net profit Rs 1,824 crore (45% margin), revenue Rs 4,056 crore (+31%). Q1 FY26: profit Rs 378 crore (+11%), revenue Rs 904 crore (–10%).

  • Diversification & Users: Shifted from F&O trading to affluent clients and SIPs. Avg revenue per user Rs 3,339; affluent users contribute 33% of assets; 57 lakh use multiple products.

  • F&O Revenue & Diversification: Groww reduced F&O dependence from 65% in FY23 to ~50%, diversified toward wealthier clients, and its derivatives share rose to 14.5% in Q1 FY26.

  • F&O Revenue & Regulation: Groww earns 50% of revenue from F&O (down from 65% in FY23) amid SEBI clampdown impacting brokers’ profits.

  • SIP & Mutual Fund Leadership: Groww contributed Rs 34,000 crore in SIPs in FY25, capturing 11.76% of industry inflows.

  • Market Slowdown & User Impact: Groww faced a 10% revenue decline in Q1 FY26 due to slower addition of new transacting users (7 lakh vs 16 lakh in Q1 FY25) and a drop in active derivative traders (14 lakh vs 19.5 lakh).

Publisher:Money Control