India hits 210 million demat accounts as IPOs and digital brokers drive growth
India's demat accounts soared to 210 million in October 2024, with over three million new sign-ups—the biggest jump in 10 months.
This surge is thanks to a wave of IPOs and increased retail investor participation.
Digital brokers are changing the game
Platforms like Groww, Zerodha, and Angel One now handle over half of all active NSE demat accounts, showing how digital-first brokers are reshaping investing.
Even as total active accounts dipped slightly last month, Groww alone added 138,000 new users—now holding a 26.6% market share.
Why everyone's talking about IPOs
October saw a record-breaking number of IPOs raising ₹39,140 crore.
Stock markets also climbed: Sensex and Nifty rose around 3%, with mid- and small-cap stocks doing even better.
All this buzz is pulling in more first-time investors looking to get a piece of the action.