Groww injects Rs 104.4 Cr into Fisdom to bolster wealthtech push

Groww has infused an additional Rs 104.4 crore into Fisdom, its recently acquired wealthtech subsidiary, as the fintech accelerates efforts to diversify beyond a derivatives-heavy brokerage model.

Billionbrains Garage Ventures Ltd., the listed parent of Groww, said it invested the amount through a rights issue in Finwizard Technology Pvt. Ltd., the entity operating Fisdom, according to a stock-exchange filing.

The company bought 87,384 shares at Rs 11,954.94 apiece, with no change in ownership because Fisdom remains a wholly owned subsidiary.

The capital infusion was required under the May 16, 2025 Share Purchase Agreement, which obligated Groww to “infuse additional capital to facilitate certain payouts and other working capital requirements,” the filing said.

Fisdom, which Groww acquired for about Rs 961 crore in October, offers wealth management and distribution services spanning mutual funds, insurance, PMS, AIFs, and unlisted securities. The unit generated Rs 166.3 crore in revenue last year and is close to breakeven, though still loss-making.

The investment comes as Groww shifts away from an over-dependence on derivatives brokerage, which accounted for 57% of revenue in Q2 FY26, down from 68% a year earlier. Regulatory tightening by SEBI has weighed heavily on F&O trading, wiping out nearly Rs 203 crore in revenue for Groww so far in FY26.

Management said the long-term plan is to reduce derivatives to less than half of revenue while wealth management, commodities and credit scale up. “It is beyond 50, definitely it can come below 50,” Co-founder Ishan Bansal told analysts during its recent earnings call.

Fisdom is central to that shift, giving Groww deeper access to affluent customers, whose numbers are rising 52% annually and now hold 34% of total platform assets. The acquisition added about 500 employees, including 180 in sales, and introduced new advisory-led products such as a “PMS of mutual funds,” which charges direct fees to customers.