For years, the Groww narrative has been a deceptively simple one. Build a clean, intuitive platform, target the burgeoning mass of new-to-market retail investors, and ride the wave of India’s equity boom.

It was a strategy that paid off handsomely, catapulting the Bengaluru-based unicorn past its arch-rival Zerodha in active user numbers and setting it on a seemingly unstoppable march towards a blockbuster IPO. With over 1.5 Cr users, INR 1,819 Cr in profit for FY25 and a fresh $200 Mn in the war chest, Groww looks set for a bumper public listing.

But curiously, now there’s a change in Groww’s tune. It’s focussing on pro traders and HNIs with new products that are distinctly different from what made Groww such a big brand name in India. What does this mean for the investment tech giant?

Let’s try to answer this but first a look at the top stories from our newsroom this week:

• The Stock Broking Gold Rush: With revenue from digital lending under stress due to stringent norms, fintech startups are looking at stock broking to boost engagement and top line. From JFS to MobiKwik and CRED, competition is lining up to take on Zerodha and Groww
• India’s Deeptech Quandary: The Centre’s Research Development and Innovation (RDI) scheme earlier this month gave the deeptech ecosystem a sigh of relief, but behind closed doors, VCs and startups are famished for clarity
• Lenskart’s XR Vision: Lenskart is set to foray into the smart glasses and XR devices space and is changing its DNA for the next phase of its journey as it nears an IPO, but this is an altogether different ballgame than making spectacles and sunglasses. Will Lenskart be able to see this through?

Looking Beyond Retail Investors

Thus far, Groww’s story has been defined by profitability and rapid growth; the next chapter, particularly the diversification push through the wealth management and pro trading platforms, might........

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