IPO-Bound Groww Crosses 10 Crore Downloads On Playstore As Lead Over Zerodha Widens

Groww has become the first investment app in India to cross 10 crore downloads on Google's playstore, as the Zerodha rival readies for an initial public offering. Groww, having solidified its position as the largest trading platform in terms of user base, has 1.28 crore active clients, and commands a dominant 27.3% share of the market. According to the NSE data, Groww facilitated more than one-third of all new demat accounts opened in fiscal 2025. Its active client base rose to 1.29 crore by March 2025 from 95 lakh a year earlier, marking a growth of 36%. Zerodha, one of the most popular names in the industry, trails Groww with 77.6 lakh users, capturing a 16.5% share of the market.

Angel One, another leading platform, ranks third with 74.5 lakh active clients, equating to 15.9% of the market. Other notable players include Upstox with 26.6 lakh users or 5.7% market share, and ICICI Securities, which rounds out the top five with 19.5 lakh users or a 4.1% market share. The total number of active users across India's trading platforms still below the five crore milestone, at 4.7 crore, as per unique client code data from the National Stock Exchange from May-end.

Notably, this is lower than the total number of active clients registered in December last year, which came up to 4.9 crore.

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