IPO-Bound Groww To Launch New Platform To Augment Revenue

IPO-bound stock broking major Groww is launching a new platform called ‘915’ for professional and high-volume traders, sources told Inc42.

Unlike its existing app, 915 will be a standalone web-based platform, built entirely in-house and designed to offer advanced tools and customisation to the professional traders.

The sources said that the new platform will offer historical straddle charts and customisable dashboards. Users will also be able to share their setups with fellow traders, apart from other features.

While brokerage charges remain the same, it’s not yet known whether there would be any additional charges for the advanced features the platform will offer.

Groww declined to comment on the development. The development was first reported by PTI.

The launch of the new platform is part of the IPO-bound investment tech platform’s strategy to shore up its revenue and expand beyond retail investors. As part of this expansion strategy, Groww also entered the wealth management space and acquired Fisdom to further bolster its offerings.

Groww Gears Up For IPO

The Indian investment landscape has changed considerably over the last few years with rising participation from retail investors in the stock market. As a result, investment majors like Groww and Zerodha have seen rapid growth. However, the exuberance of retail investors has also led SEBI to step in to protect investor interest.

The markets regulator has taken a number of steps to clamp down on F&O trading by retail investors. But this is expected to hit the revenue of platforms like Groww. Besides, last year, SEBI barred market infrastructure institutions from offering discounts based on trading volumes or members’ activities. This move will also impact the top line of brokerages, with Zerodha cofounder and CEO Nithin Kamath acknowledging this.

Amid all these, the launch of the new platform seems like Groww’s bid to reduce the reliance on retail investors as it gears up for its IPO.

Last month, the company filed its DRHP via the confidential route for its public issue. It plans to raise $700 Mn to $1 Bn from the IPO and is seeking a valuation of about $7 Bn to $8 Bn.

Groww’s operating revenue surged 119% to INR 3,145 Cr in FY24 up from INR 1,435 Cr in FY23. However, it reported a net loss of INR 805 Cr due to a one-time tax payment related to its return to India and subsequent domicile shift.

Operationally, the company was profitable with INR 535 Cr profit for FY24 compared with INR 458 Cr in the previous fiscal year.

Brokers Race To Serve India’s New-Age Traders

Despite the recent hiccups, India’s stock broking segment remains lucrative and is seeing entry of a number of new players. The existing players are also upgrading their platforms to cater to the new-age traders and investors.

The likes of Groww, Zerodha, and Dhan are continuously adding new features and improving their interfaces. Legacy players like ICICI Direct and Angel One have upgraded their platforms to include API access, more powerful analytics, and enhanced F&O workflows.

Meanwhile, Jio Financial Services has become the latest entrant to the stock broking segment. Its JV with Blackrock, Jio Blackrock, recently got stock broking licence from SEBI. MobiKwik also got a stock broking licence from the markets regulator recently.

Notably, as per a report by Mordor Intelligence, the Indian stock broking market is at $4.2 Bn in 2025 and is on track to reach $6.1 Bn by 2030, growing at a CAGR of 7.7%.

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