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

About this update from Billionbrains Garage Ventures Limited

** Shares of Groww's parent Billionbrains Garage Ventures NSE:GROWW 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 NSE:ANGELONE 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

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