Entry of discount broking firms — Groww and Zerodha — into the Asset Management Company (AMC) business has paid off handsomely. Groww has grown its assets under management (AUM) by about three times in one year, while Zerodha has doubled its AUM.
The broking firms’ high growth comes even as the overall AMC industry’s assets grew by only 17% last year in a flat market.
Groww AMC has seen its AUM grow by almost threefold from Rs 1,660 crore in April 2025 to Rs 4,730 crore in April 2026.
Zerodha Fund House, an equal partnership firm run by Zerodha and investment firm Smallcase, has seen its AUM grow by 2.6 times from Rs 4,934 crore in April 2025 to Rs 13,133 crore in April 2026.
Zerodha Fund House had launched its first scheme only in Oc…
Captive client base
“The brokerage firms’ large client base, which already trusts these firms, has helped them to grow their businesses multi-fold since their launch, irrespective of the market’s overall performance,” said a former CEO of a broking firm, who did not wish to be identified.
The AMC industry’s AUM has grown from Rs 70 lakh crore in April 2025 to Rs 82 lakh crore in April 2026, a 17 percent growth over the same period.
Earlier this week, Groww obtained the Securities and Exchange…
Source: Money Control