BUSINESS

Demat accounts surge to 12.97cr in India

By Rishabh Raj

1

Demat accounts surge

India's demat accounts surged 26% YoY to 12.97 crore in September, driven by strong local equities and a record number of IPOs.

2

Monthly account openings

Over 30.6 lakh demat accounts were opened in September, slightly down from August's 31 lakh.

3

Record IPOs in September

September witnessed the highest number of IPOs in 13 years, raising around Rs. 11,800 crore, while SME IPOs saw a record-breaking 37 firms listed, raising over Rs. 1,000 crore.

4

Young investors' preference

The rise in demat accounts since COVID-19 is attributed to young investors' preference for equities despite market fluctuations.

5

Crash warning for newbies

However, experts warn that a major crash could result in heavy losses for many new investors and potentially create a negative situation.

For more Business news click on the link below