Groww secures SEBI's nod to distribute corporate bonds online
What's the story
Bengaluru-based wealth tech firm Groww has bagged the Online Bond Platform Provider (OBPP) license from the Securities and Exchange Board of India (SEBI). The license will let Groww offer listed corporate bonds to retail investors through its platform. This move is part of a larger strategy by Groww to diversify its product offerings and revenue streams.
Diversification strategy
Expansion into wealth management and credit distribution
Groww, which mainly earns from stockbroking, is now diversifying into wealth management by acquiring Fisdom. The company is also venturing into credit distribution with products like loans against securities and fixed income investment options. It has been pursuing multiple licenses in the wealth management space to offer a wide range of services for retail traders and investors.
Growth trajectory
Groww's journey and market position
Groww started with direct mutual funds, expanded into stockbroking, and secured a non-banking finance company (NBFC) license to start lending operations. The firm also set up an asset management business by acquiring Indiabulls AMC. As of October 2025, Groww had a market capitalization of ₹93,313 crore and its stock price was at ₹151 on the BSE.
CEO statement
Groww's CEO on the company's product offerings
In an interview with The Economic Times on October 30, Groww's CEO Lalit Keshre said, "Our anchor products are mutual funds and stocks. And then there is wealth management. We have around 3,00,000 'affluent' customers, which is a fairly large number, and we need to cater to them." This statement highlights the company's focus on catering to its diverse customer base through a range of financial products.
Financials
Financial performance and market share
Groww reported an operating revenue of ₹1,018 crore and a net profit of ₹471 crore for the September quarter of the current fiscal. The company's customer acquisition cost also increased by about 72% to ₹1,374 in H1 FY26 from ₹796 in the same period last year. According to NSE data, Groww holds a dominant market share among stockbrokers at 26.62%.