India's total dematerialised (demat) - used for holding shares and I accounts - used for rose by over 4 million in August to cross the 171 million mark, led by a surge in initial public offerings (IPOs).
This marks an average addition of 4 million accounts monthly since 2024. According to data from the National Securities Depository (NSDL) and Central Depository Services (CDSL), the total number of demat accounts in the country stood at 171.1 million as of August 31.
The demat tally was boosted by record IPOS in August. Last month, 10 companies raised around 17,000 crore via IPOS the best in terms of the quantum of funds raised since May 2022 when the LIC issue hit the market.
August saw large issues like Ola Electric (issue size ₹6,145 crore) and Firstcry owner Brainbees (₹4,194 crore).
In this calendar year, more than 50 companies have raised ₹53,419 crore until August 31. IPOs have also given robust returns to investors, the BSE IPO index, a gauge tracking newly listed stocks, has risen 33.5 per cent so far this year.
This story is from the September 06, 2024 edition of Business Standard.
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This story is from the September 06, 2024 edition of Business Standard.
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