India’s broking industry added around 5.12 lakh net active clients in August. Groww accounted for nearly 44% of these additions. The market leader added 2.23 lakh active clients during the month, while Sahi recorded the fastest growth among the top 20 brokers. Groww’s active client base rose from 1.31 crore in July to 1.33 crore in August. Its market share increased from 28.88% to 29.04%. Zerodha remained the second-largest broker with 67.97 lakh active clients, after a 34,501 clients addition. Angel One retained the third position with 67.19 lakh clients, following an addition of 84,636 users. Their market shares stood at 14.79% and 14.62%, respectively. Among the top five, ICICI Securities added 23,385 active clients, taking its total to 21.56 lakh, with a 1.10% monthly rise. Upstox added 3,749 users to reach 18.65 lakh, with a 0.20% monthly rise. Their market shares stood at 4.69% and 4.06%, respectively. Kotak Securities and HDFC Securities ranked sixth and seventh with 13.92 lakh and 13.51 lakh active clients, respectively. Kotak added 9,440 users, while HDFC Securities added 16,198 clients. Dhan added 19,818 clients, a 1.82% increase, to reach 11.07 lakh and retained the eighth spot. SBI Securities slipped to ninth and recorded a month-on-month decline of 2.46%, losing 26,365 active clients during the month. Motilal Oswal stood at 10th with 9.06 lakh active clients and 1.97% stake. Paytm Money and INDmoney the next two positions with 7.9 lakh and 7.13 lakh clients, respectively. While Paytm Money lost 9,112 users, INDmoney added 7,805 clients during the month. Sahi was the fastest-growing broker among the top 20, adding 24,718 clients, a 10.83% increase, to reach 2.53 lakh. Its market share stood at 0.55%. PhonePe’s Share.Market added 5,137 clients, a 2.57% month-on-month increase to reach 2.05 lakh. The August data highlights the continued concentration of active clients among leading brokers. Groww alone accounted for nearly 44% of the industry’s net additions and widened its market share beyond 29%. The top five brokers collectively control over 67% of the active client base. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
