Groww Drives 40% of NSE’s Demat Accounts in FY25

India’s investing landscape continues to evolve rapidly, with FY25 witnessing the addition of over 84 lakh new active demat accounts on the National Stock Exchange (NSE), reflecting an annual growth of 20.5%. The total number of active demat accounts stands at 4.92 crore. At the forefront of this shift is Groww, which alone accounted for over 40% of these net additions – reinforcing its position as the country’s fastest-growing brokerage platform.

As per NSE data, Groww’s active client base surged from 95 lakh in March 2024 to 1.29 crore in March 2025, registering a robust 36% growth, far outpacing the broader industry. The platform’s market share climbed from 23.28% to 26.26% during the same period, with consistent gains recorded every month.

In comparison, Zerodha, India’s second-largest broker by active clients, added 5.8 lakh accounts during the year, contributing 6.9% to NSE’s overall growth. Angel One added 14.6 lakh accounts, contributing 17.38%, with their market shares standing at 16% and 15.38%, respectively.

In January 2025, the NSE reached an all-time high of 5.02 crore active demat accounts, however, due to market volatility, the industry experienced a slight decline in the final two months of the fiscal year.

Groww’s average monthly client growth stood at 3%, compared to the industry’s 1.74%, highlighting its sustained momentum. This growth is attributed to Groww’s digital-first approach, simplified user experience, and its strong connection with first-time investors from India’s tier II, III, and IV cities.

The data also reveals a broader industry trend: the rise of DIY investing, led by a young, tech-savvy generation seeking intuitive platforms, transparent processes, and low-friction onboarding. This shift is further highlighted by a marked rise in younger investors, with the median age of new demat account holders steadily declining. A growing proportion of these new entrants are under the age of 30, signalling a generational change in how Indians approach wealth creation. In parallel, the investor base is becoming more diverse—nearly one in every four new investors nationally is a woman, pointing to a positive trend of greater financial participation among women.

As India’s capital markets deepen and more individuals turn to equity investing as a long-term wealth-building avenue, such platforms are likely to play an important role in shaping investor behaviour.