India's four largest brokers—Groww, Zerodha, Angel One, and Upstox lost nearly 20 lakh active investors in the first half of 2025, NSE data revealed. Groww, which is the country's largest broker by active investors, lost six lakh active investors since January 2025. Zerodha, the country’s largest broker by revenue, lost close to 5.5 lakh active investors in the same period.