India's Groww mirrors Robinhood's growth, says Jefferies; initiates at 'buy'

Billionbrains Garage Ventures

19/12/2025 04:13

** Shares of Groww's parent Billionbrains Garage Ventures BILO.NS rise as much as 1.65% to 146.50 rupees

** Jefferies initiates coverage with 'buy' and TP of 142.92 rupees

** Says, Indian stockbroker's product velocity model mirrors Robinhood's; sees revenue growth of 29% CAGR over FY26-28

** Values Groww at a premium to its peer Angel One ANGO.NS as the former has higher growth, better margins and lower F&O exposure

** BILO has most active clients despite starting four years ago, thanks to its mutual fund funnel, easy interface and strong word of mouth - Jefferies

** Stock up 10% since Nov 12 listing

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))