Lalit Keshre

Timeline

1. 1998Studies at the only English medium school in Khargone district, Madhya Pradesh, which opened with his batch and where he was the 42nd student admitted.
2. 2004Completes a five year dual degree in electrical engineering at IIT Bombay, taking both a B.Tech and an M.Tech.
3. 2011Co-founds an online learning company, his first venture, before moving into product management.
4. 2013Joins Flipkart as one of its early product managers, working on the Flipkart Marketplace.
5. 2016Leaves Flipkart with Harsh Jain, Ishan Bansal and Neeraj Singh, and the four of them found Groww as a platform to buy direct mutual funds.
6. 2017Groww positions itself around direct plans, which carry no distributor commission and a lower expense ratio for the investor.
7. 2019The platform adds stock broking and moves from a mutual fund marketplace into a full brokerage application.
8. 2020Retail investing surges during the pandemic and Groww's account numbers rise sharply through 2020 and 2021.
9. October 2021Groww raises 83 million dollars in a Series E round at a valuation of 3 billion dollars, with Sequoia Capital, Tiger Global and Satya Nadella among its investors.
10. 2023Groww launches its own asset management company, Groww AMC, and begins running mutual fund schemes instead of only distributing other companies' funds.
11. September 2023Groww overtakes Zerodha in active investors, with 6.63 million against Zerodha's 6.48 million at the end of the month.
12. April 2023A major outage takes the app down, the largest technical failure the company had faced to that date.
13. 23 January 2024Customers cannot open the Groww app for around an hour during market hours, and Keshre publicly apologises, saying the company should have communicated faster.
14. 2024The company expands beyond broking into margin trading, credit and fixed income products for users it already has.
15. 2025Groww acquires Fisdom for about 961 crore rupees, adding wealth advisory expertise aimed at affluent customers.
16. 29 October 2025Groww announces an IPO price band of 95 to 100 rupees a share, valuing the company at around 62,500 crore rupees, or 7.1 billion dollars.
17. 4 to 7 November 2025The 6,632 crore rupee issue opens and closes, subscribed about 18 times, made up of a 1,060 crore rupee fresh issue and a 5,572 crore rupee sale by existing shareholders.
18. 12 November 2025Shares of Billionbrains Garage Ventures list at 114 rupees on the BSE and 112 rupees on the NSE against an issue price of 100 rupees, and the company becomes the first new age wealth technology firm on the Indian exchanges.
19. 2026State Street completes a 580 crore rupee investment for 23 per cent of Groww AMC, valuing the asset management arm separately from the parent.
20. 2026Groww begins a phased rollout of United States stock investing through GIFT City.
21. 2026Peak XV Partners sells Groww shares worth 1,756 crore rupees in a block deal and reports a return of about 92 times on its investment.
22. 2026Sebi's closing auction session rules for derivatives settlement slow equity derivatives revenue, and Groww reports a 14.3 per cent sequential decline in that line.
23. September quarter 2026Revenue from operations rises to about 1,501 crore rupees and net profit to about 725 crore rupees, up 54 per cent, with active clients at 1.34 crore and broking market share at 29.16 per cent.
24. 2026Groww is named Startup of the Year at the Economic Times Startup Awards, and Keshre says newer businesses such as wealth and margin financing will keep shifting the revenue mix.

Early life and family

Lalit Keshre was born into a farming family in Lepa, a small village in the Khargone district of Madhya Pradesh, and grew up there with his grandparents. His father is a farmer and his parents still live in the village. In interviews he has described his beginnings in the plainest terms available to a founder who has become a billionaire: a village house, a farming family, and grandparents who raised him while his parents worked.^[2][3]

The detail he returns to most often is the school. Khargone district had a single English medium school when he was a child, and it opened with his own batch, which means he was in the first group of students it ever taught and the 42nd student admitted. His grandfather arranged the admission. He has said that after finishing class 12 he learned that the Joint Entrance Examination existed at all, sat it, and secured a place at IIT Bombay, a sequence he summarises with the phrase a lot of luck.^[2][3]

His parents are, in his own telling, unmoved by the wealth the company created. He has said they are stoic about it, that what matters to them is that he creates some positive impact, and that they do not care about money and still live a very simple life in the village. Indian founders often reach for a humble origin story, and in this case the family's refusal to move is what makes it credible rather than a line in a pitch.^[3]

Nothing else about his family is on the public record. The Indian press has not published his date of birth, his mother's or father's names, or a wife and children, and this page does not invent any of them. What is documented is the village, the farming family, the grandparents, the district school and the route through the entrance examination, which is a complete enough picture of a childhood in rural Madhya Pradesh without adding detail that no source supports.^[1][2]

Education

Keshre completed a dual degree in electrical engineering at the Indian Institute of Technology Bombay, finishing with both a B.Tech and an M.Tech in 2004. The five year dual degree is the institute's combined undergraduate and postgraduate programme, and it is the qualification that Indian technology founders most often cite when they describe a technical foundation. For a student from a village school in Khargone, getting in was the difficult part; the degree itself is the reason he later understood the products he was asked to build.^[1][2]

The gap between the degree and the entrepreneurship is worth noting, because it is where his story differs from the founders who went straight from campus to a company of their own. He worked in product roles for years before he started a business, first at Flipkart and before that at a learning company he co-founded in 2011, and the businesses he built in that period were not in financial services at all. Groww came after the experience rather than instead of it.^[1][4]

His public comments about education are practical rather than sentimental. When he talks about the people who now use Groww, he talks about penetration and access: the platforms target the millions of Indian households that have never bought a mutual fund, and he argues that 30 to 40 crore people in the middle and lower middle class could each invest at least 100 rupees a month. That argument is the product of someone who grew up outside the financial system and then spent a decade building software for people like his own family.^[3]

He has not published a school or university giving programme, and IIT Bombay does not list an award or a named scholarship attached to him. The one educational commitment on the record is professional rather than charitable: he has spoken about building products for first time investors, which is the work of widening access to a market rather than funding it.^[3][4]

The Flipkart years and the early career

Keshre joined Flipkart in 2013 as one of its early product managers and worked on the Flipkart Marketplace, the part of the business that let other sellers list on the platform rather than only selling the company's own inventory. He later became involved in Flipkart Quick and other consumer facing products. By his own account he arrived with a plan rather than by accident: he has said he knew he would work there for only two years, and that he stretched it to three.^[1][3]

The other three founders of Groww were colleagues at the same company. Harsh Jain, Ishan Bansal and Neeraj Singh all worked at Flipkart during the years when it was growing from a bookseller into the largest Indian e-commerce company, which meant the four of them saw product management, scale and competitive pressure at close range before they left. Keshre's summary of the decision is that all four were there while the company was taking off, and that the decision to leave was about personal timing rather than about Flipkart.^[2][3]

The idea for Groww did not come from Flipkart's business. It came from the experience of trying to invest as an individual Indian and finding the process obscure, which is the same origin story that several Indian fintech founders tell about their own products. In 2016, when the four of them started, mutual funds were still largely sold through distributors, and buying a direct plan without commission was a formality that most investors did not know about. Groww's first product was built around that gap.^[2][4]

He left in 2016 after roughly three years, and the transition was not a dramatic break: the four founders built the company in Bengaluru, where they had been working, and hired from the same professional networks. What matters for the biography is the timing. Between 2016 and 2019 the Indian retail investor base was still small, so a company founded then had years to build a product before the pandemic brought a wave of first time investors into the market.^[2][6]

Founding Groww

Groww was founded in 2016 by four former Flipkart executives, Keshre, Harsh Jain, Ishan Bansal and Neeraj Singh, and it began as a place to buy mutual funds rather than a broker. The positioning in the early years was deliberately narrow: direct plans, no distributor commission, a lower expense ratio, and a simple application for people who had never invested before. In 2017 that was a material choice, because it took revenue away from the distribution model that most of the industry used.^[2][4]

The company added stock broking in 2019 and changed category. A mutual fund platform earns a small fee on assets, while a broker earns on transactions and can sell an account to a much larger market, and the shift put Groww into competition with Zerodha, Angel One, Upstox, Paytm Money and the bank led brokerages. It was the broking business, not the funds business, that eventually made the company large enough to list.^[4][15]

The fundraising followed the product. Groww raised 83 million dollars in a Series E round in October 2021 at a valuation of 3 billion dollars, with Sequoia Capital and Tiger Global as investors and Satya Nadella, the chief executive of Microsoft, among the individual backers. The round was part of the wave of Indian fintech valuations that peaked in that year, alongside Cred, Pine Labs and Razorpay, and it gave the company capital to spend on customer acquisition just as the retail investing boom was at its height.^[3]

The four founders have stayed with the company, which is unusual in a market where founders often leave after a first exit. Keshre is the chief executive and the public face, Jain, Bansal and Singh hold shares from the founding years and continue in the business, and the four of them have described the operating style as long term planning with short term execution. After the listing, Keshre framed the change in the relationship with customers as the most interesting consequence, because the people who use the product are now also the people who own the company.^[4][8]

The company also grew its own investment management arm. Groww AMC was launched in 2023 so that the platform could run mutual fund schemes of its own rather than only distributing other companies' products, and in 2026 State Street completed a 580 crore rupee investment for 23 per cent of that business, valuing the asset management arm separately from the parent. That is a second business inside the company, with its own economics and its own regulator.^[10]

Groww: the company he runs

Groww runs through Billionbrains Garage Ventures Limited, is headquartered in Bengaluru, and by 2026 described itself as the wealth platform of the country rather than as a broker. The application offers mutual funds, stocks, futures and options, exchange traded funds, initial public offerings, margin trading, fixed deposits, digital gold and United States stocks, which the company began rolling out in phases through GIFT City in 2026. Keshre has said the platform carries more than 14 products and that the sequencing of them follows what customers ask for.^[4][11]

The customer base is where the company's claim to scale rests. It says it covers 98 per cent of Indian pin codes and that more than 80 per cent of its customers come from beyond the tier 6 cities, which is the same argument he made in 2023 when he said 30 to 40 crore Indians could invest 100 rupees a month. By September 2026 the company reported about 1.34 crore active clients and a broking market share of about 29.16 per cent, its highest to that point, and said it accounted for 43.6 per cent of new systematic investment plan registrations in that quarter.^[4][13]

The wealth side is the part Keshre talks about most when he is asked where growth comes from next. Groww acquired Fisdom for about 961 crore rupees in 2025 to add wealth advisory capability, on the argument that customers who stay on the platform become affluent over time and then need products that a broker does not sell. He has said the affluent segment is growing more than twice as fast as the platform as a whole, which is why the company bought the expertise rather than building it.^[4][5][9]

The margin trading facility and lending businesses are the second growth bet, and the third is the asset management arm. Keshre describes the strategy as multi product, direct to customer and built on a technology backbone, and argues that this is what makes revenue more resilient from quarter to quarter than a pure broking business would be. The results show some of that resilience and also its limits: when the derivatives business slowed after the regulator changed settlement rules, the sequential decline in that line was 14.3 per cent, and the other businesses had to carry the quarter.^[4][9]

His position on the market Groww serves is not the industry's consensus. When Nithin Kamath of Zerodha argued that India's fintech user base was only about 10 to 15 crore, Keshre responded that large financial companies such as HDFC Bank and Bajaj Finance would not have their market capitalisations if they were serving only a small slice of India, and that financial services should be treated as a basic need along with food, clothing and shelter. That disagreement about the size of the market is the clearest difference in public outlook between the two biggest brokers in the country.^[3]

The road to the stock exchange

Groww announced its IPO price band of 95 to 100 rupees a share on 29 October 2025, valuing the company at around 62,500 crore rupees, or 7.1 billion dollars. The issue was 6,632 crore rupees in total, made up of a fresh issue of 1,060 crore rupees and an offer for sale of 5,572 crore rupees by existing shareholders, with the fresh money earmarked for cloud infrastructure, marketing and capital for subsidiaries including Groww Creditserv Tech and Groww Invest Tech. It opened for subscription from 4 to 7 November 2025.^[4][5]

The company went to market as a profitable business, which distinguishes it from most of the Indian startup listings that preceded it. For the year ended March 2025 it reported revenue of 4,056 crore rupees and a net profit of 1,899 crore rupees, with net margins of 44.85 per cent, according to Moneycontrol's account of the offer documents. The Times of India's listing day report put operating revenue at 3,901 crore rupees, up 49 per cent, and profit at 1,824 crore rupees, with an EBITDA margin of 60.8 per cent, figures which differ because of how operating revenue and total income are counted.^[4][5]

The issue was subscribed about 18 times and the shares listed on 12 November 2025 at 114 rupees on the BSE and 112 rupees on the NSE, a premium of 14 per cent and 12 per cent respectively over the 100 rupee issue price. Analysts on the day compared the valuation at 33 to 34 times FY25 earnings with Angel One, Motilal Oswal Financial Services and Anand Rathi Wealth, and the common advice was to hold for two to three years rather than to trade the listing pop. Groww was the first new age wealth technology company to list in India.^[5]

Keshre's own framing of the listing was that it was the start of a journey rather than an exit. He said going public adds accountability and trust, that the company would not trade long term focus for short term gains, and that its philosophy did not change: time in the market matters more than timing the market. He also said the quarterly rhythm of a listed company had raised expectations inside teams and made balancing predictability with innovation harder, which is an unusually candid description of what an IPO does to a founder's working week.^[4][8]

The public market brought a new set of events. Shares fell when Sebi proposed changes to derivatives settlement and rose when a relaxation was reported, and a block deal by Peak XV Partners in 2026 saw the stock drop nearly 3 per cent in a session as about 10.07 crore shares changed hands. Peak XV reported a return of about 92 times on the investment it had made as Sequoia Capital, and Y Combinator also sold part of its holding. Exits of that kind are normal after a listing, and each one is a reminder that a young company now answers to a market that prices it daily.^[12]

Net worth and wealth

Forbes puts Lalit Keshre's real time net worth at about 1.1 billion dollars in 2026, most of it held in Groww stock, and the Indian business press has described the same holdings as roughly 10,000 crore rupees. The figure appeared in the same period as the listing and the block deals that followed it, which means it moves with the share price rather than with anything the company announces. A billionaire calculation for a founder of a freshly listed company is a snapshot, not a fixed number.^[1][12]

The wealth is concentrated in a single asset, which is a risk as well as an achievement. Keshre holds shares in Billionbrains Garage Ventures from the founding years, and the company's market value has been around 13 billion dollars since listing, so a fall of 10 per cent in the share price removes more than a tenth of his net worth. The three other founders, Harsh Jain, Ishan Bansal and Neeraj Singh, hold shares from the same years, and employees hold stock options that vest against the listed price.^[4][5][12]

He is not one of the founders who sold early into the strength. The offer for sale in the IPO was 5,572 crore rupees, most of which went to venture investors rather than to the founders, and the block deals that followed were led by early backers such as Peak XV and Y Combinator. That pattern is typical of Indian listings, where the founders keep the majority of their stake and the venture funds take the first liquidity.^[5][12]

The comparison Indian readers will make is with Nithin Kamath of Zerodha, who built a larger profit pool with a fraction of the capital and no outside investors. Keshre's route was the opposite: venture funded, listed, and wealth held in a publicly traded instrument rather than in a private company. Which is the better business is a separate question from which produced the more liquid fortune, and the listing is what made his a number that can be quoted at all.^[6][15]

Wife, family and children

Lalit Keshre has kept his family out of the public record. The Indian business press, which has published long interviews with him about Groww, has not carried the name of a wife or spouse, and no report describes children. Forbes lists his net worth without a family profile. This page therefore does not name a spouse, because a directory that guesses at the private life of a living person is not a directory anyone should trust.^[1][2]

The family that is documented is the one he came from rather than the one he has. His father is a farmer in Lepa, his parents still live in the village, and he has said that they are stoic about his success and care about the impact of his work rather than the money. Even at the scale of an IPO that valued his company at more than 62,000 crore rupees, the public account of his family life remains the account of a village in Khargone district.^[2][3]

His co-founders are the people he has built the company with, and they function in the public narrative almost as a second family. Harsh Jain, Ishan Bansal and Neeraj Singh have been with Groww since 2016, hold shares and continue to work in the business, and Keshre speaks about the four of them together when he talks about milestones such as the listing. His answer to the question of what an IPO means for the founders was about the group rather than about himself.^[4][8]

Where he lives is not published either. His company is headquartered in Bengaluru, he moved to the city for work and has been based there since the Flipkart years, and the interviews he gives about Groww are usually conducted at the company's office. Any statement beyond that would be an inference from his employer's address rather than a fact about his home.^[2][4]

Personal life

Keshre gives interviews about products, markets and regulation rather than about himself, and his personal life appears in the coverage only when the story is about where he came from. He does not keep the public profile of a founder celebrity, and the moments when he has spoken outside the ordinary run of business news are the ones where he has had to apologise or take a position, such as the app outage of January 2024.^[2][16]

The philosophical line he repeats is about time in the market. He tells users that starting early matters more than picking the right moment, and he applied the same phrase to his own company when asked what changes for him as the chief executive of a listed business. It is a simple message and he uses it consistently, which in a market full of trading tips is itself a positioning statement about the kind of customer Groww wants.^[4][8]

He also speaks about the internal cost of being public. His account of the change is that quarterly goals have raised expectations inside teams, that predictability and innovation pull against each other, and that he has kept the company's month on month rhythm rather than allowing the quarter to set the clock. For a chief executive who spent nine years building without having to report to anyone, that is the part of the listing he describes as genuinely different.^[4][8]

On the subjects that divide his industry he is direct. He defended the market opportunity against Nithin Kamath's smaller estimate, described the Indian market regulator as the most progressive in the world and credited progressive regulation for part of Groww's growth, and argued that the company's continued diversification into wealth, lending and margin trading is a matter of building for the customers rather than chasing a trend.^[3][4]

House and property

There is no published information about a house or property owned by Lalit Keshre. Indian listings often put a promoter family's address into the public domain, but Groww went public as a professionally run company whose promoters are its four founders, and the offer document describes the company's registered office rather than the homes of the men who own it. The company's registered office is in Bengaluru, Karnataka.^[4][5]

The asset that is documented is the shareholding, and it is a different kind of property. Keshre's wealth sits in listed shares whose price is set every day, and the block deals of 2026 showed how quickly a large holding is repriced by the market: Peak XV's sale of 1,756 crore rupees of stock moved the share price nearly 3 per cent in a single session even though nothing about the company's business had changed.^[12]

The company's own property position is more visible than his. Groww operates from Bengaluru and spends on cloud infrastructure and marketing rather than on physical branches, which is why the fresh issue in the IPO was earmarked for cloud infrastructure, marketing and capital for subsidiaries instead of for land or offices. For a business that covers 98 per cent of Indian pin codes from a digital platform, property is not where the capital goes.^[4]

For a reader searching for a property figure, the honest answer is that the record has none. He has not appeared in a rich list entry with a property breakdown, has not discussed real estate in an interview, and has not been the subject of the kind of investigative profile that documents a founder's land holdings. This page states the absence rather than filling it.^[1][12]

Awards and recognition

The recognition attached to Keshre in the Indian market is company level rather than personal. Groww was named Startup of the Year at the Economic Times Startup Awards in 2026, an award that went to the business on the strength of growing at scale while staying profitable, and he accepted and spoke at the same ceremony about how the revenue mix would keep shifting as newer businesses scaled.^[9]

He is also a regular on the interview circuit of the Indian business press, which functions as a form of standing in itself. The Moneycontrol interviews and the Economic Times Startup Awards conversations are the venues where he has laid out his views on wealth management, the size of the Indian market and the effect of being listed, and the coverage treats him as one of the founders whose opinions are worth reporting on their own.^[3][4][8]

The institutional recognition is financial. Forbes carrying his net worth, the exchanges accepting the listing, and the index providers adding the stock are all forms of acknowledgement that arrive with scale rather than with awards. When Groww was added to an MSCI India index in 2026, that was a statement about the size and liquidity of the company he runs, made by an index committee rather than by a jury.^[5][12]

For a founder who grew up in a village with one English medium school and has described his own entrance examination success as a matter of luck, the awards are the least interesting part of the record. The detail that he returns to, and the one the press returns to, is the same one: the farming family in Lepa, the district school that opened with his batch, and the company that now holds the largest share of Indian broking by active clients.^[1][2][13]

Philanthropy and industry work

No philanthropic foundation, giving pledge or named donation by Lalit Keshre is on the public record, and this page does not invent one. The Indian founders of his generation increasingly sign up to formal giving structures, and if he does later, the record will say so. What he does instead is argue in public that access to financial products is itself a form of social progress, which he frames with the phrase that financial services are a basic need like roti, kapda and makaan.^[3]

That argument is also his business case, and it should be read as both. When he says 30 to 40 crore Indians could invest 100 rupees a month, he is describing the market he wants to serve and the reason Groww built a low cost direct mutual fund product in the first place. A platform that lets a first time investor start with a small monthly amount is a commercial product whose effect is wider participation in capital markets, and the two claims are not in conflict.^[3][4]

On the industry side, the work that shows up in the public record is participation rather than institution building. Groww has taken public positions on regulation, including joining other new age brokers in writing to the market regulator about the merchant discount rate on UPI payments, and Keshre speaks about the Indian market regulator in terms that most founders reserve for their own boards. He has credited progressive regulation, including the changes that made broking simpler, with part of the company's growth.^[4][15]

The clearest public service in his record may be the ordinary one of disclosure. His shareholder statements, his earnings commentary and his explanations after an outage are the material from which any reader can judge how the company behaves, and he has chosen to give them in plain language rather than in the guarded cadence of a listed company chief executive. After the January 2024 outage he apologised for both the failure and the silence, which is more than most Indian founders have done after a downtime incident.^[8][16]

Controversies and criticism

The most public criticism of Keshre is about outages. On 23 January 2024 the Groww app could not be opened by customers for around an hour during market hours, and he apologised on social media, saying the company was deeply sorry and that it should have communicated with customers promptly. He noted that the largest earlier failure was on 6 April 2023 and that each one still hurts, adding that this time it hurt a lot more. For a broker whose users are trading during market hours, an hour of downtime is a direct loss.^[16]

The second line of criticism is the one that follows every listed company: the share price. Groww fell when Sebi proposed changes to derivatives settlement and rose when a relaxation was reported, and a block deal by an early investor pushed it down nearly 3 per cent in a session in 2026. Keshre's answer has been that the company is built for the long term and will not make trade-offs for short term gains, which is the standard answer and is also the only one available to a chief executive in his position.^[4][12]

The regulatory pressure on the derivatives business is a real operating risk rather than a reputational one. Sebi's closing auction session rules slowed equity derivatives revenue and Groww reported a 14.3 per cent sequential decline in that line, which is the line many brokers depend on most. Critics of the industry argue that discount brokers built their growth on speculative trading by first time investors, and a company that markets itself to newcomers is exposed to that argument in a way that a traditional brokerage is not.^[6][9][15]

There is no dispute with a co-founder, no litigation over the listing, no allegation about the founders' share sales and no regulatory action against Keshre personally in the public record. The criticism that exists is about service quality, about the industry's dependence on derivatives revenue and about the share price, and this page reports it as such rather than turning a downtime incident into a scandal.^[12][16]

Reading the numbers

• Groww was founded in 2016 by four former Flipkart executives and raised 83 million dollars in October 2021 at a valuation of 3 billion dollars.^[3]
• It overtook Zerodha in active investors in September 2023, with 6.63 million against 6.48 million at the end of the month.^[2][14]
• For the year ended March 2025 the company reported revenue of 4,056 crore rupees and a net profit of 1,899 crore rupees, with net margins of 44.85 per cent.^[4]
• The IPO was priced at 95 to 100 rupees a share in October 2025, raised 6,632 crore rupees and valued the company at around 62,500 crore rupees. The issue was subscribed about 18 times.^[4][5]
• The shares listed on 12 November 2025 at 114 rupees on the BSE and 112 rupees on the NSE, against an issue price of 100 rupees.^[5]
• In the September quarter of 2026 revenue was about 1,501 crore rupees and net profit about 725 crore rupees, up 54 per cent from a year earlier.^[7]
• Active clients were about 1.34 crore in September 2026 and broking market share was about 29.16 per cent, with the platform covering 98 per cent of Indian pin codes.^[4][7]
• Forbes put Keshre's real time net worth at about 1.1 billion dollars in 2026, most of it in Groww stock, which the Indian press has described as roughly 10,000 crore rupees.^[1][12]

Related entries

The company he runs is covered in full on the Groww page, which sets out the broking, mutual fund and asset management businesses, its shareholder register after listing and its recent results. For the competitor he overtook and the other founder Indian readers compare him with, the Zerodha page and the page for Nithin Kamath set out a very different model of building a brokerage without outside capital.^[4][6][15]

For the listed financial technology sector as a whole, the pages for Paytm, One Mobikwik and Navi are the useful neighbours, since each of them sells to the same Indian customer base that Groww serves and each of them has had to explain its economics to public market investors. The UPI merchant discount rate debate is the policy thread that now runs through all of them.^[15]

Among the people, Kunal Shah of CRED and Harshil Mathur of Razorpay are the founders whose companies grew alongside Groww in the same years, while Aadit Palicha and Kaivalya Vohra of Zepto represent the generation that came after and listed younger. For an Indian reader trying to place Keshre, the shortest accurate summary is that he is the founder who took the investing habit to the mass market and then listed the business that resulted from it.^[3][9]