What happened
Jio Platforms Ltd. completed India's largest ever IPO, raising $3.1 billion, with roughly 14 million applications for the offer and an oversubscription of about 22 times. Angel One ran a focused campaign around the deal for Reliance Group employees and their family members who did not have securities accounts, while Reliance encouraged its large workforce to consider participating in the offer. A representative for Angel One did not respond to a request for comment.
Who moved in the rankings
Thanks to those October additions, Angel One's active investors reached 7 million, putting it ahead of Zerodha's roughly 6.76 million at month-end, the National Stock Exchange of India Ltd. figures show. Groww, operated by Billionbrains Garage Ventures Ltd., held a wide lead with about 13.7 million active investors after adding 304,208 during the month.
In fourth place was ICICI Securities Ltd., with roughly 2.16 million active investors. Upstox, backed by Tiger Global Management LLC and planning an IPO, was fifth with about 1.84 million.
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Why it matters for your portfolio
The NSE counts an investor as active if they have placed at least one trade on the exchange in the previous 12 months, so these rankings reflect usage, not just sign ups. Separately, October saw 3.35 million new demat accounts, taking the total to 244 million and marking the biggest monthly increase since January, based on data from National Securities Depository Ltd. and Central Depository Services (India) Ltd.
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