The retail investor seems to have really arrived. It all started on Monday with the opening of over 2 lakh depository participation accounts in a single day. At the end of Friday, the number has crossed the 10-lakh mark.

Sources close to CDSL said that it has opened over 6 lakh accounts till Friday evening which is over 15% of total DP accounts of CDSL. NSDL has opened over four lakh accounts. “In the last five days, over 10 lakh accounts have been opened which is 10% of the total DP accounts in the country,” sources said. Incidentally, CDSL had 39 lakh accounts and NSDL had over 60 lakh accounts before January 14.

The new DP accounts have been opened across the country. “CDSL has 423 DPs with it and more than 400 DPs actively opened accounts. The total number of DPs involved taking into account NSDL would be close to 1,300,” they said.

It is learnt that applications were filed from 1,000 different locations. “The euphoria for IPOs is pan India. Applications have come from all states, barring a few,” a market analyst said.

The enthusiasm for DP accounts is largely due to the IPO boom spearheaded by Reliance Power which hit the market on Tuesday. Big IPOs like Emaar MGF, UTI Asset Management, OIL India are coming shortly. Besides, there is a big rights issue of SBI.

The CEO of Reliance Money, Sudip Bandapadhyay, said that it has alone opened over two lakh DP accounts in the last five days. “The number of applications we have got from retail investors for Reliance Money is phenomenal,” he said. Ashika Capital Markets chairman Pawan Jain said the Reliance IPO has changed the course of the Indian capital markets. “We believe that at least 25% of the new DP accounts opened are from new investors. That means, it has added 2.5 lakh new investors in the capital market and related instruments like mutual funds,” he added.

Source : TOI

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