Groww sees 49% investors leaning towards stocks

CHENNAI: Retail investors are warming up to stocks followed by mutual funds and IPOs, as per Investment platform Groww, which concluded its on-ground event, ‘Ab India Karega Invest’ here on Monday.

The event witnessed strong participation from the retail investor community in the city. A financial education initiative, Ab India Karega Invest by Groww aims to simplify investments for citizens across the country in a simple, secure and accessible manner.

Started in 2020, Ab India Karega Invest is Groww’s offline event that introduces people to the investment world, educates them about different investment options and resolves their queries through one to one interaction.

Groww targets tier II and III markets that are indicating a high potential of retail investment growth in the near future, thereby creating a broader ecosystem, nationally. Since its launch, Groww has successfully conducted these day-long events in more than 20 cities, impacting over two million investors thus far.

Over one year, Groww aims to conduct Ab India Karega Invest in 100 cities across the country, impacting 10 million Indians, across tier II and III markets.

Founded in 2016, Groww currently has over 20 million users on its platform. The platform has witnessed significant interest from young investors in Chennai.

Currently it claims to have around 9,99,663 users in Tamil Nadu, of which 71% users are from Chennai. Interestingly, 23% of investors in Chennai are in the age group of 25-30 years on Groww’s platform, while 18% of investors are in the age group of 31-40 years, and 16% of investors are between the ages of 18-24 years.

Among these, 49% of investors in Chennai prefer investing in stocks, 43% in mutual funds and 3% invest through IPOs. The trend is in line with the investment pattern observed by Groww across TN, with 51% investors on Groww’s platform investing in stocks, 42% in mutual funds and 3% investors demonstrating a preference for IPOs.

Harsh Jain, Co-founder-COO, Groww, said, “We have witnessed a robust growth in retail investor participation from Chennai on our platform, with a growing appetite for asset classes such as stocks and mutual Funds.”