Nextbillion Technology News Today

NSE data reveal that brokerage firms, including ICICI Securities, HDFC Securities, Axis Securities, Sharekhan, IIFL Securities, Nuvama, and Geojit, among others, have observed a decline in the number of active clients.

The stockbroker has the highest number of active users in India and is profitable. But it wants to do much more

Nextbillion Technology (Groww), the venture capital-backed broking platform, has dislodged Zerodha Broking as Indias largest brokerage in terms of number of active clients. Groww had 6.63 million active clients at the end of September, as against Zerodhas 6.48 million, ending the latters long run at the top. AngelOne and RKSV Securities (Upstox) were ranked third and fourth with 4.86 million and 2.19 million active clients, according to data available on the National Stock Exchange (NSE).

Nextbillion Technology, which operates Groww, reported a 10.73X YoY rise in PAT to INR 73 Cr in FY23 against a PAT of INR 6.8 Cr in FY22.

Online Investment Platform Groww Completes Acquisition Of Indiabulls Mutual Fund Biz Report

Groww has executed the acquisition of the mutual fund business of IndiaBulls Housing Finance for a consideration of INR 175.6 Cr.

Market LIVE Updates: Most sectoral indices are trading in the red with Nifty PSU Bank down over 1 percent

Groww reported a consolidated loss of INR 239 Cr in FY22 as against a profit of INR 167.6 Cr in the prior fiscal year

Smallcase has raised $40 Mn in a Series C round led by Faering Capital with new investors Amazon Smbhav  Venture Fund (ASVF) & Premji Invest

In a deal worth INR 175 crore