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54% of Retail Investors in Amritsar on Groww Prefer Investing in Stocks While 37% Invest in Mutual Funds and 8% in IPOs

Amritsar, August 05, 2022 (News Team):
Groww, India's fastest growing investment platform today concluded its 31st nation-wide on-ground event, Ab India Karega Invest in Amritsar. The event witnessed participation of more than 1000 retail investors from the city. A financial education initiative, Ab India Karega Invest aims to simplify investments for citizens across the country in a simple, secure and accessible manner.

Started in 2020, Ab India Karega Invest is Groww's on-ground event that introduces people to the investment world, educates them about different investment options and resolves their queries through one to one interaction. Groww targets tier II and III markets that showcase a high potential for retail investor participation and growth, thereby creating a broader ecosystem, nationally.

Since its launch, Groww has successfully conducted these day-long events in more than 30 cities, impacting over two million investors so far. Every year, Groww aims to conduct Ab India Karega Invest in 100 cities across the country, impacting 10 million Indians, across tier II and III markets.

Founded in 2016, Groww currently has over 3 crore-plus users on its platform. The platform has witnessed significant interest from young investors in Punjab, particularly in Amritsar. Currently, Groww has over 7.67 lakh users in Punjab.

Interestingly, 20% of users on Groww’s platform in Amritsar are in the age group of 25-30 years, while 18% of users are in the age group of 18-24 years and 17% of users are between the ages of 31-40 years. Among the total users in Amritsar, 54% of investors on Groww’s platform prefer investing in stocks, 37% invest in mutual funds and 8% invest in IPOs. While in Punjab, 56% of users on Groww’s platform are investing in stocks while 37% of users invested in mutual funds and 6% of users invested in IPOs.

Harsh Jain, Co-founder and COO, Groww, said, “For Groww, Amritsar is one of the key markets in Punjab as we have seen consistent growth in our user base here. We witnessed strong participation in the ‘Ab India Karega Invest’ event held in Amritsar, and were happy to see people from all parts of the city join us. We took this opportunity to connect with them to resolve their common queries on investing and educate them further on the wealth creation opportunities that the Indian markets hold. Through this initiative, we aim to boost the confidence of India’s retail investors and equip them with the right knowledge and tools to maximise their wealth. We hope our audience found the session helpful and we’re excited to see more retail participation from Amritsar-based investors.”
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