56% investors in Hyderabad prefer investing in mutual funds

Hyderabad: Investors in the city are more likely to opt for mutual funds, according to the investment platform Groww which said that 56% of investors in Hyderabad prefer investing in mutual funds while 38% invest in stocks. Groww recently organised 'Ab India Karega Invest' event in Hyderabad that saw strong participation from the retail investor community in the city. A financial education initiative, 'Ab India Karega Invest' aims to simplify investments for citizens across the country.

Founded in 2016, Groww currently has over 20 million users on its platform. The platform has witnessed significant interest from young investors in both Hyderabad and Telangana. Currently, Groww has around 13,85,623 users in Telangana, of which 56% are based in Hyderabad.

Interestingly, 22.85% of users are in the age group of 25-30 years on Groww's platform, while 19.24% of users in Hyderabad are in the age group of 18-24 years, and 17.13% of users are between the ages of 31-40 years. Among these users, 56% of investors on Groww's platform prefer investing in mutual funds, 38% in stocks and participation in IPOs stood at only 2.32%.

In Telangana, 47% of investors on Groww's platform prefer investing in stocks while 45% opt for mutual funds. However, like in Hyderabad, IPOs witness limited participation with only 5% of investors from the state showing preference for this asset class.

Harsh Jain, co-founder and COO of Groww, said, "Groww has witnessed an upsurge in retail investor participation from Hyderabad over the last few years and the city is home to many young working professionals in the IT-enabled sector, who have steadily demonstrated an appetite to invest."