Groww Says It Accounted for 43.6% of New SIP Registrations in September Quarter

Key Takeaways

• Groww said its platform accounted for 43.6% of new mutual fund SIP registrations during the July-September 2026 quarter. 
• Direct mutual fund assets held through Groww reached ₹2.06 lakh crore at the end of September. 
• The platform's direct mutual fund assets increased 45.9% year-on-year and 7.8% from the June quarter level. 

Wealthtech platform Groww said it accounted for 43.6% of new systematic investment plan registrations in mutual funds during the July-September quarter of 2026. 

The figure was provided by the company to The Economic Times and highlights the growing role of digital investment platforms in distributing direct mutual fund plans. 

Direct mutual fund assets held through Groww stood at ₹2.06 lakh crore at the end of September, according to the company. 

That represented a 45.9% year-on-year increase and a 7.8% rise from around ₹1.9 lakh crore at the end of June. 

The data refers specifically to assets held through Groww and the company's share of new SIP registrations rather than the share of total outstanding SIP accounts across India's mutual fund industry. 

SIPs have become one of the principal channels through which retail investors invest regularly in mutual funds. The rise of digital platforms has also made direct-plan investing more accessible, allowing investors to transact without using a traditional distributor. 

Groww has been expanding its mutual fund business alongside its broader wealth-management operations. 

The ₹2.06 lakh crore figure indicates the scale of direct mutual fund assets now routed through the platform. However, assets held on a platform are distinct from assets managed by an asset management company: Groww is acting as the investment platform, while the underlying mutual fund schemes remain managed by their respective AMCs. 

The 43.6% registration figure is therefore primarily a distribution and investor-acquisition metric. It reflects Groww's stated share of newly created SIP registrations during the September quarter rather than mutual fund industry AUM market share.