Edelweiss Financial Services offers an open bond subscription on the Groww platform right now, and it will expire on October 16.
Groww Bonds Gain
According to industry insiders, investment platform Groww has quickly expanded outside its typical strongholds of stocks and mutual funds, securing a double-digit stake in three public bond issuance within three months of the product’s introduction.
Groww has drawn between 10 and 12 percent of retail investors to the issues it has disseminated since launching bond offerings on its platform in June.
According to market players, this makes it one of the quickest platforms to reach scale in the fixed-income space, which has historically been controlled by banks and physical distributors.
Strong Retail Demand via Groww
Groww enabled allotments of 1.09 lakh units, or 12.57 percent of the retail reserve of 8.74 lakh units in the ICL Fincorp public bond offering, according to sources. Similarly, Groww made it possible to allocate 44,755 units—or 11.19 percent of the 4 lakh units set up for ordinary investors—in the Muthootu Mini Financiers bond offering.
In the Muthoot Mercantile bond issuance, Groww also made it possible to allocate 68,392 units—or 11.19 percent of the 6.25 lakh units set out for retail investors.
ICL Fincorp’s public bond offering was available for subscription from July 31 to August 13. Muthoot Mercantile was open from July 16 to July 29. Muthootu Mini Financiers was open from August 18 to September 1.
Groww Expands Bond Reach
Edelweiss Financial Services offers an open bond subscription on the Groww platform right now, and it will expire on October 16.
The increase in bond shares allocated to ordinary investors is similar to Groww’s strategy in other markets. Based on active customers, the site has already become the biggest broker in India. According to industry trackers, as of July 2025, it has a monthly transaction share of over 27% in the cash equity market and over 26% in equity derivatives.
This year, Groww’s retail allocation share in the IPO market has averaged around 25% across all issues.
Mutual Funds Drive Growth
Nevertheless, mutual funds continue to be a significant platform growth driver. According to Groww’s draft IPO prospectus, the platform had an 11.8 percent stake in the industry’s Rs 28.9 lakh crore SIP inflows in FY25, contributing Rs 3.4 lakh crore. In only two years, its percentage of SIP inflows has almost quadrupled, rising from around 6% in June 2023 to 13% in June 2025.
Groww was responsible for 2 million of the 6 million new SIP registrations in the sector in June 2025 alone, or one in three new SIP registrations. The site was one of the biggest distributors in the nation, with 17 million active SIPs (18.5 percent share) and 9 million unique mutual fund investors (16 percent share).
Diversification Boosts Market Share
Industry watchers credit Groww’s organic client acquisition, direct-to-consumer business strategy, and easy-to-use interface for its increased market share. With the recent addition of bonds, wealth management, commodities, and loans secured by shares, the organization has been gradually growing its range of products.
The new releases, according to analysts, might aid Groww in expanding its footprint as Indian families move away from mutual funds and stocks and toward fixed income and alternative products.