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LIC eagerly awaits IPO, opens record fast demat account, jumps 20% in 3 months

by Chandan Sen
March 14, 2022
in Stock Market
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LIC IPO: Since the announcement of LIC IPO, many demat accounts have been opened. Speaking of statistics, the number of demat accounts opened in the 3 months from November to February increased by 30 percent.

LIC IPO: The wait for the IPO of Life Insurance Corporation (LIC), the country’s leading insurance company, is fast approaching and this is why the number of CDSL open demat accounts has increased. Central Depository Services Limited has set a new record by opening 6 crore (60 million) active demat accounts so far. The company said in a press release. Let us tell you that CDSL is the first and only listed depository company to set a record of opening 60 million active demat accounts. Let us tell you that after the announcement of LIC IPO, many more demat accounts have been opened. Speaking of statistics, the number of demat accounts opened in the 3 months from November to February increased by 30 percent.

Big advantage for CDSL

On November 26, 2021, CDSL became the first company to open 50 million demat accounts. Subsequently, on February 28, 2022, it became the first company, or rather, a depository, to open 60 million demat accounts. The company has added 1 crore active demat accounts in the last 3 months. In the last three months, ie November-February, the number of new demat accounts has increased by 30 percent.

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CDSL has recorded

Let us know that in both November and December, the company added 3 million demat accounts every month. A total of 255 lakh demat accounts have been opened between April and December. Out of these 255 lakhs, CDSL alone has opened 222 lakh demat accounts.

CDSL thanks investors

Speaking of CDSL’s shareholders, it mainly includes BSE, Standard Chartered Bank, PPFAS Mutual Fund, HDFC Bank and LIC. “We especially want to thank the investors who have placed their trust in us,” said Nehal Bora, MD and CEO, CDSL. “With the help of our digital services, we will take steps to make every investor a self-reliant investor,” he said.

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