Groww leads online discount broking market with over 1.03 crore active users in May

Financial services firm Groww has solidified its position as the leader in the online discount broking market, with its active user base surpassing 1.03 crore in May, according to NSE data released on June 12.

This puts Groww ahead of its rival Zerodha, which has an active user base of 75 lakh.

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In May, Groww added approximately 4.33 lakh active users, while Zerodha added around 1.14 lakh. As a result, Groww's market share likely exceeded 30 percent.

Angel One saw significant growth in May, adding 1.84 lakh users, bringing its total active user base to 64.86 lakh.

Upstox, another prominent player in the online discount broking market, has an active user base of 25.91 lakh, while Vijay Shekhar Sharma's Paytm Money reported 7.86 lakh active users, according to moneycontrol.