Groww: The Indian Robinhood? Jefferies Initiates Coverage With A Buy Call — Check Price Target

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.

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 user, specifically targeting the young audience.

After launching the app in 2015, Robinhood witnessed unprecedented growth due to its easy 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.

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.

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%.