Putting the Spotlight on Wealth Management and US Opportunities

研报英文原文证据摘录

Putting the Spotlight on Wealth Management and US Opportunities

Billionbrains Garage Ventures (GROWW IN)

Equity Research

June 24, 2026

Spotlight on Groww's wealth management and US

opportunities

Groww's wealth business comprises three products

As highlighted in our initiation report, we see wealth management for Groww as a key growth

opportunity over the next five years. Groww's wealth management business comprises three

products: (1) Groww Prime; (2) W by Groww and (3) Fisdom.

Exhibit 4 - Groww's wealth offerings

Groww Prime W by Groww Fisdom

Target customer Clients with less than Rs2.5mn assets Clients with more than Rs5mn Bank mutual fund customers

assets

B2B/B2C Service within the Groww app Separate B2C app B2B service

Product Customizable mutual fund baskets Mutual Fund baskets, PMS, AIF, Mutual funds

unlisted stocks

Human support No Yes for investors with more than

Rs5 mn assets with W

Earnings opportunity 5% by FY30e 3-5% by FY30e

.

Source: Jefferies

#1: Groww Prime: Mutual fund (robo) advisory platform Should 12% of the mutual fund AUM move

Background: This is a mutual fund advisory platform, which was launched in Jan'26. Currently, to Groww Prime by FY30e, it could contribute

Groww Prime is available to new Groww investors. The service is focused on giving Groww c.5% to overall PAT.

customers the opportunity to invest in customized mutual fund baskets. Groww Prime also gives

rebalancing suggestions and indicates funds to sell, after taking into consideration tax liabilities,

in case of liquidity requirements. Groww Prime is part of the Groww App and is an alternative to

direct mutual funds.

Fees: The platform doesn't charge investors any fees for this service. However, should one invest