Fewer new demat accounts in 2025 as market mood shifts

Business Jan 12, 2026

For the first time since 2021, fewer people opened new demat accounts in India—about 30.63 million in 2025, down nearly a third from last year's 46 million.
This dip comes as market ups and downs, global tensions, and high stock prices made many retail investors more cautious.

IPOs stayed busy, but returns didn't wow

Even though fewer folks jumped into the market with new accounts, IPO fundraising kept buzzing along.
Still, a lot of recent IPOs gave lackluster or even negative returns, which didn't exactly boost enthusiasm among retail investors.