Groww has the makings to become India’s Robinhood, Jefferies said in a note on Friday, initiating coverage of the newly listed stock with a “buy” rating.
The online brokerage operated by Billionbrains Garage Ventures Ltd. has a product velocity similar to Robinhood Markets Inc.—the largest online broker in the US, Jefferies analysts Supratim Datta, Prakhar Sharma and Satvik Karabar said in a note dated 19 December 2025.
Still, “Groww trades at 30% to Robinhood despite better growth,” they said. “We value Groww at a premium to its Indian listed peer Angel One considering the former’s higher growth, better margins and lower F&O exposure.”
Shares of Groww surged as much as 12.87% to ₹162.65 apiece on the vote of confidence from Jefferies, even as the benchmark Sensex traded up to 0.50% higher at 84,869.25 points.
This is a developing story. More to come.
