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More than 2 lakh new demat accounts opened in a day

Filed under Banking News, Stock Market January 15, 2008 at 11:19 pm

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An all-time record was created in the capital markets on Monday Jan 14th, with more than two lakh depository participation (DP) accounts being opened on CDSL and NSDL on that day.

Sources said CDSL added 1.35 lakh accounts on Monday. NSDL added close to one lakh accounts. Sources said going by the trends, CDSL alone would add more than 60,000 accounts on Tuesday. Market analysts said Monday’s DP surge was largely due to the IPO boom spearheaded by Reliance Power which hit the market on Tuesday.

“For the last year or so, we have been adding 1.5-2 lakh accounts in a month. Incremental growth was much lower before that. It took more than 18 months to reach the first one lakh DP account,” CDSL sources said. Currently, CDSL has nearly 39 lakh accounts and NSDL has over 60 lakh.

CD Equisearch director Rajesh Agarwal said retail investors are participating in a big way in IPOs. “Now lot of investors are applying from multiple accounts held by family members to ensure that they get the allotment,” he added.

Angel Broking CMD Dinesh Thakkar said 2008 will be a great year for IPOs. “This year, we will have maximum number of IPOs. So, investors are preparing for this,” he added.

Source : TOI

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1 Comment »

  1. amit pande said,

    January 17, 2008 @ 6:22 pm

    I have complaint against Angel broking, please some one help me if some one cheated by this type of matter.

    Kind Attn.: Mr.Manish Kumar Singh

    So many discussion with regarding my demat account opening. i dont get my
    account yet and even tommorow i dont think that i get my demat account.

    Earlier i told you that if you can open this account till 18 january 08
    than you can open my account and you commit me to open till 14 january 08,
    because only for Reliance power IPO i am going to bid and you make me sure
    that i made your purchase in this IPO surly, so that why i not to try to
    open my account with other.

    i think tommorow is the last date for IPO and you made my purchase which
    is your commitment i already given 3 cheques which details are given below

    a/c For Amount Cheque No. Date
    Angel Broker Ltd. 775.00 244903 04.01.2008
    Angel Broker Ltd. 40000.00 244904 04.01.2008
    Reliance Power 25875.00 244907 15.01.2008

    I have acknowledgement 454726, which clearly shows that you picked this
    form on 04.01.2008 and still today 16.01.2008, 11 days already done i dont
    get my account open. Know i am so much strict about this matter which is
    crossing my limit.

    i need urgent reply on this so that i can explain it further and make
    enquiry about this matter.

    Amit Pande
    Sr. Relationship Manager
    Tipsons Financial Services Pvt. Ltd.
    1008, 10th Floor, Akashdeep 26/A,
    B.K. Connaught Place New Delhi-01
    Mob:9810527457

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