Groww, Zerodha and other large retail brokers are likely to offer the Metropolitan Stock Exchange of India (MSE) as an additional trading option for their cash market customers, with both discount brokers currently in the testing phase, according to people familiar with the development.
MSE had raised Rs 1,240 crore in two tranches in December 2024 and August 2025, which saw participation from major brokerage houses Groww and Zerodha.
The brokers are testing the integration with MSE and will need to make changes to their respective trading products before the exchange can be made available to their customers. The integration is expected to take around three to four months, the people said.
The move could provide MSE with a significant boost as it seeks to deepen liquidity and attract more retail participation to its cash market segment.
At present, MSE's cash market activity is largely driven by proprietary trading firms and brokers, including Zanskar and Jainam.