IPO-bound stockbroking platform Groww has surprised the market by capturing a double-digit share of public bond subscribers within just three months of launching fixed-income products. Traditionally known for equities and mutual funds, Groww is now rapidly expanding into debt investments, an area long dominated by banks and offline agents.
The company reportedly attracted 10% to 12% of total retail investors in three bond issuances since June, making it one of the fastest platforms to scale in India’s fixed-income space.
Early Success Numbers
In the ICL Fincorp bond issue, which had 8.74 lakh units reserved for retail investors, Groww facilitated 1.09 lakh unit allotments, accounting for 12.57%. The performance didn’t stop there. During the Muthootu Mini Financiers issue, Groww enabled 44,755 units out of 4 lakh retail units, securing an 11.19% share.
Similarly, in the Muthoot Mercantile offering, the platform helped distribute 68,392 units out of 6.25 lakh reserved for small investors, again reaching an 11.19% share. These bond sales were conducted between mid-July and early September, with different subscription windows across issuers.
Active Issues Continue
Groww is not slowing down. It currently has an active bond subscription for Edelweiss Financial Services, which is scheduled to close on October 16. The company’s aggressive push into bonds mirrors its earlier strategy in IPO distribution and stock trading, where it quickly climbed to the top.
According to industry reports, Groww is now India’s largest broker by active users. As of July 2025, it commands 27% share in monthly cash equity traders and 26% in derivatives, putting it ahead of several long-established players.
In the IPO market, Groww reportedly handles around 25% of all retail allocations this year. This showcases the brand’s strong presence among first-time and young investors who prefer a fully digital experience.
Mutual Funds Still Strong
Apart from equities and bonds, mutual funds continue to be a major strength for Groww. As per its IPO draft papers, the platform contributed Rs 3.4 lakh crore to the industry’s Rs 28.9 lakh crore SIP inflows in FY25, giving it an 11.8% market share.
What’s more impressive is how fast this share is growing. From 6% in June 2023, Groww’s SIP share jumped to 13% in June 2025, almost doubling in two years.
In June 2025 alone, Groww was responsible for one out of every three new SIP registrations in India. Out of 6 million SIPs added nationwide, 2 million came via Groww. The platform now has 17 million active SIPs, representing 18.5% share, and 9 million unique mutual fund investors, roughly 16% of the market.
Why Groww Is Winning
Industry analysts credit Groww’s success to its direct-to-consumer approach, zero-paperwork onboarding, and simple user interface. Instead of relying on aggressive offline distribution, Groww attracts investors organically through its app-first model.
Over time, the platform has expanded beyond basic investments to offer wealth management, commodities trading, and loans against shares. With bond investing now added, Groww could soon become a complete one-stop financial platform.
Experts believe that Groww’s strong entry into bonds will accelerate India’s shift towards fixed-income investing, especially among young professionals looking for stable alternatives to stocks. With interest rates rising and awareness increasing, bonds may soon become as popular as SIPs — and Groww appears well-positioned to lead that change.
