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Over 2 lakh demat accounts in a day
By siliconindia
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Saturday, 19 January 2008, 02:19 IST
Kolkata: Setting an all time record in the capital markets, more than two lakh depository participation (DP) accounts were opened on CDSL and NSDL on Monday, reported Times of India.
While CDSL added 1.35 lakh accounts, NSDL added close to one lakh accounts, sources said, adding that, CDSL alone would add more than 60,000 accounts on the next day. Market analysts said that 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 to 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.
Sudip Bandopadhyay, CEO, Reliance Money, said, "the Reliance Power IPO has changed the definition of IPO investments. The kind of response we are getting is phenomenal. The surge in DP accounts on Monday is largely due to Reliance Power."
This year will be a great year for IPOs, said Dinesh Thakkar, CMD, Angel Broking. Ashika Capital Markets chairman Pawan Jain said that besides Reliance Power, big IPOs like that of Emaar MGF, UTI Asset Management and OIL India are coming shortly.