Ahead of Wednesday’s public listing, Groww reverses active investor decline after 9 months

Groww sees active investor growth after nine months

Wealth-tech firm Groww saw active investor growth in October after its investor base declined for nine months, reporting an addition of 1.4 lakh active investors, according to NSE data.

The Bengaluru-based firm, which is the country’s largest stockbroker by active investors, had around 1.2 crore active investors at the end of October, ahead of its public listing on November 12 in the country’s stock exchanges.

However, Groww’s performance seems to be an exception as six out of the top 10 brokers saw a decline in their active investor count in October.

Zerodha, the country’s largest stockbroker by revenue, has seen its active investor count drop by around 11 lakh over the last year. Publically-listed Angel One also saw its active investors drop by around 10 lakh in 2025.

Shares of Billionbrains Garage Ventures Ltd, the parent company of stock broking firm Groww, are expected to list with about a 3 percent premium over the issue price on Wednesday.

The Rs 6,632-crore initial public offering (IPO) received a strong investor response, subscribing 17.60 times overall. The company raised Rs 2,984 crore from anchor investors.

The firm had fixed a price band of Rs 95-100 per share, valuing the company at over Rs 61,700 crore at the upper end.

For FY25, the Bengaluru-based fintech reported revenue of Rs 4,056 crore and net profit of Rs 1,899 crore, with net margins of 44.85%. The IPO opens for subscription from November 4 to 7, 2025.

Unlike many of its New Economy peers, Groww is entering the market as a profitable fintech, pitching itself with a price-to-earnings ratio of 33.5 - higher than traditional brokerages but among the most reasonable in India’s startup space.

Groww recorded net profit at Rs 378.4 crore for the quarter ended June 2025, rising 11.9 percent compared to Rs 338 crore in the same period last year, but revenue during the same period declined 9.6 percent to Rs 904.4 crore, against Rs 1,000.8 crore.