Groww: The Indian Robinhood? Jefferies Initiates Coverage With A Buy Call

Jefferies has initiated coverage on Billionbrains Garage Ventures Ltd., the parent company of Groww, highlighting the fintech’s strong growth and even drawing comparisons to American trading app, Robinhood.

‘Groww is Groww-ing up to be Robinhood,’ Jefferies said in its latest note, as the brokerage firm initiated coverage on the counter with a ‘buy’ rating and a target price of Rs 180.

Similar Growth Path to Robinhood

Jefferies acknowledged Groww’s impressive growth and how it has become the largest stockbroker in India. The firm admits the fintech has had a similar growth path as Robinhood.

Founded by Vlad Tenev and Baiju Bhatt, Robinhood started off with the promise of making trading easier and accessible to everyday users, specifically targeting the young audience.

After launching the app in 2015, Robinhood witnessed unprecedented growth due to its easy app interface. Learn more about Robinhood’s business model and how it has disrupted the traditional brokerage industry.

Groww’s User-Friendly App Interface

Jefferies believes Groww is on a similar path, having overtaken Zerodha as the biggest stockbroker in India, all by employing a user-friendly app interface and connecting with the Indian youth.

Groww’s app has been designed to make trading easier and more accessible to everyday users, with features such as paper trading and stock screening tools.

Expected Growth and Margin Expansion

Jefferies expects Groww to utilise its various levers to reach 35% earnings per share CAGR over FY26 to FY28, likely aided by a 19% expected growth in the broking business led by client vintage & market share gains.

The brokerage firm also sees 5x growth in new initiatives like margin trading facility & wealth management, as well as a staggering 700 basis point margin expansion going forward.

Buy Target and Upside Potential

Keeping all these factors in mind, Jefferies has issued a ‘buy’ target on Groww, with a considerable upside of 26% from current levels.

Shares of Groww were listed on the Dalal Street on Nov 12, 2025. Since then, the stock has given 44% returns over its issue price of Rs 100. Compared to its listing price of Rs 112, the stock has gained 28%.

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Conclusion

In conclusion, Jefferies’ initiation of coverage on Groww with a ‘buy’ rating and a target price of Rs 180 is a positive development for the company and its investors.

With its strong growth trajectory and user-friendly app interface, Groww is well-positioned to continue its growth momentum and expand its market share in the Indian brokerage industry.

Investors looking to invest in the Indian stock market can consider Groww’s services and take advantage of its innovative features and competitive pricing.