Groww vs Angel One: Which broking firm's shares should you buy? Here's how they stack up

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Groww and Angel One are among the country's largest stock brokers to be listed on stock markets. Analysts have compared the valuations, growth prospects and financials of the two major peers, and which suits the needs of different investors the most.The shares of Billionbrains Garage Ventures, the parent company of leading stock broking platform Groww made a decent debut on stock markets on November 12. The stock then surged around 94 percent from its IPO price in just five sessions to hit a high of Rs 193.91 apiece.The stock then saw profit-booking. It has extended significant losses for the second consecutive session on November 20, falling over 7 percent to trade at Rs 157.69 apiece on NSE, as seen at 10 am. The market capitalisation of the company currently stands at over Rs 97,000 crore, slipping below the coveted Rs 1 lakh crore market capitalisation.The shares of Angel One, which is a much older listed peer, meanwhile were trading with marginal gains at Rs 2,826 apiece. The company has a market capitalisation of Rs 25,725 crore, nearly one-fourth of Groww.Groww vs Angel One: Client baseGroww is the biggest stockbroker in India by active clients, followed by Zerodha and Angel One. Groww became India's largest stockbroking company in terms of active clients in 2025, with over 13 million clients, significantly ahead of long-established broking players like Angel One's 7.6 million.'Groww is a growth story, Angel One is a profitability story'When compared, Groww is a growth story while Angel One is a profitability story, said Siddharth Maurya, Founder & Managing Director at Vibhavangal Anukulakara. "Groww's scale and UI-driven adoption are unmatched, but its valuation is running far ahead of its financials. Angel One, on the other hand, has a proven broking plus distribution model, better margins, and healthier unit economics," he added.Maurya noted that at current levels, Angel One offers a cleaner risk-reward equation, while Groww is best suited only for investors comfortable with premium valuations.'Scalability premium vs established profitability'While India’s brokerage space is expected to be a long-term structural winner of India’s retail participation boom, Groww and Angel One represent two very different investment profiles, said Yash Chauhan, Research Analyst at INVasset PMS.“Groww now commands a market cap above Rs 1 lakh crore and leads the i...

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