Product Updates

Updates from Groww Group: our very own NFO, highest-ever SIPs in India, and lots more

December 4, 2023 •12:00 AM

Hello,

The last quarter was one of the most eventful ones in the history of Groww.

Our broking company became number one in terms of customers in India.

It was a good moment to celebrate.

But we soon realized there is a long way to go in becoming a sustainable and enduring company – and there are many more products to build for our customers.

We are very grateful to all our customers for trusting us to get to this point.

We will continue working hard to craft the best experience for you.

So far, in our updates, we have focused on all the new things at Groww.

But as we continue growwing, we also want to start sharing some impactful numbers.

At a group level, we crossed 1 crore active customers.

This does not include readers of our Groww Digest which crossed 1.3 crore active readers.

As said by Einstein: not everything that counts can be counted.

Coming to the updates:

Groww Mutual Fund

Let's start with Groww Nifty Total Market Index Fund – we launched our first NFO.

A first-of-its-kind mutual fund that lets investors invest in the total market – covers most stocks in India.

Investors should, however, go through the entire detail before investing. Our product page offers all the details you need to know.

We got a very encouraging response from customers – our mutual fund team is excited to introduce many more products next year.

Groww has been India's most preferred investing platform for all mutual funds.

And we continue investing in it heavily – because we firmly believe most Indians will build long-term wealth through mutual funds.

About 25 lakh new SIPs were done in October in India.

Around 25% of those SIPs were done via Groww – the highest in India, to our knowledge.

A few things we launched:

New order tracking page – for users to have better visibility of all important data points and order status
Order status view on the Dashboard itself
UPI autopay – for SIPs. This is being rolled out slowly to all the users.
New SIP management – a cleaner calendar view of upcoming SIPs, how much balance they need, which SIPs have changed dates, and where an action is in progress.

Groww Stocks

The stocks team is the largest team at Groww. It has the largest number of customers among all products.

We are grateful for the love we receive.

We continue making small and significant changes at breakneck speed with continuous feedback from customers.

Company Financials: We reduced the time to show the latest company financial results to within 1 hour of being shown on exchange websites. Earlier, it used to be a few days
Events Calendar: one place to track all stocks with upcoming and past corporate actions. Users can also filter out stocks from their watchlists and holdings to see upcoming and past corporate actions in them. We are rolling out slowly
Buyback feature is now available on the app. Search “Buyback” in the search bar, and you will see all offers
New products launched – Sensex and Bankex
Instant pledge feature to give real-time margin benefit to users (within 15 minutes of raising a request)
Register of Securities: weekly report of all the demat transactions that the user made in stocks (this is a compliance report sent by email)
Self-serve module for demat transfer cases: users who transfer their stocks from other brokers' demat accounts to Groww will be able to update the buy date and price.

Currently, they have to share a report with customer support, and it needs to be uploaded manually to update details. Available on web, coming on the app soon

Trading and Charts

We continue working hard on building a great chart experience – so much so that it deserves a different section.

When the user places an order from mobile charts, we now take the user back to the charts instead of redirecting outside. This is particularly helpful for option scalpers as they enter and exit trades within a few minutes
Options traders can directly access the option chain and switch between different indices on mobile charts. We will roll out this enhanced navigation to all Android users over the next two weeks
When the user opens an order card of far out of the money options, we show a warning message of "high-risk trade." We will roll this out to Android user set over next two weeks
Groww Terminal users can track their stock holdings using the new Holdings tab. It gives a one-click access to buy, sell, and charts of stocks
Web Terminal users can now navigate between charts of all tradeable indices from All Indices. They can further customize their top three indices
We will inform options traders about the day's expiring index using the Expiry label on indices. We will gradually roll this out over the next two weeks

Customer Support

Another important area where we continue investing heavily is customer support.

There is a lot of buzz around artificial intelligence (AI).

Groww is at the forefront of leveraging AI to enhance your experience. We have integrated AI within our platform, particularly in our customer support search section.

Now, when you click on search in the customer support section to seek answers to your query, our AI-driven system provides quick and accurate responses.

If you need more personalized assistance, our dedicated support team is a click away.

Use the "Contact Us" button for prompt and tailored support.

Remember, our support works 24x7.

Book is Out

In my last update, I mentioned the book we wrote based on our experience meeting customers across India.

Well, the book is now out.

You can check it out on Amazon.

It's called – Discovering India: Through the Eyes of Groww.