NSE Demat Accounts Surge in FY25: Groww and Angel One Lead the Charge
The National Stock Exchange (NSE) witnessed a record 84 lakh new active demat accounts in fiscal 2024‑25, marking a 20.5% YoY increase and taking the total to 4.92 crore. This surge underscores India’s retail investor boom, driven largely by app‑first brokerages like Groww and Angel One.
Record Growth in Demat Accounts: FY24 vs. FY25
| Metric | FY24 | FY25 | YoY Change |
|---|---|---|---|
| Total Active NSE Demat Accounts | 4.08 crore | 4.92 crore | +20.5% |
| New Accounts Added | 70 lakh | 84 lakh | +20.0% |
Source: NSE Data
Digital Brokers Driving the Surge
Groww Takes the Lead
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New Accounts: 34 lakh (40% of the total)
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Active Clients (Mar ’24 → Mar ’25): 0.95 crore → 1.29 crore (+36%)
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Market Share: 23.3% → 26.3%
Angel One Holds Strong
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New Accounts: 14.6 lakh (17.4%)
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Active Clients: 75.7 lakh
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Market Share: 15.4%
Zerodha & Others
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Zerodha: 5.8 lakh added (7% share), active clients ~0.79 crore, market share ~16% .
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Dhan: 9.6 lakh clients (89% YoY growth), reflecting rising popularity among younger traders.
Traditional Brokers Also See Gains
While digital-first platforms dominated, traditional full‑service brokers didn’t lag far behind:
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HDFC Securities: +36.8% active clients → 14.9 lakh (3% market share)
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ICICI Securities: +3.7% growth → 19.4 lakh active users
Investors still value the research reports and personalized advisory these brokers offer.
Why Are Demat Accounts Soaring?
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Seamless Digital Onboarding:
Mobile apps with instant KYC have removed barriers for first‑time investors. -
Bullish Market Momentum:
Strong equity rallies in H1 and H2 FY25 created a Fear of Missing Out (FOMO), drawing new entrants. -
Rise of Young Investors:
Millennials and Gen Z, comfortable with tech, now form a growing slice of the investor base. -
Lower Costs:
Zero or low brokerage plans on delivery trades make investing economical even for small ticket sizes. -
Educational Content:
Broker platforms investing in blogs, webinars, and in‑app tutorials are boosting financial literacy.
Implications for the Market
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Greater Liquidity: A larger investor base fuels trading volumes and market depth.
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Volatility Risks: New, inexperienced traders can increase short‑term volatility.
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Innovation Pressure: Legacy brokers must upgrade digital offerings to stay competitive.
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Regulatory Focus: SEBI may enhance investor protection measures given the rapid growth.
Investors keen on understanding brokerage differences can review our Best Stock Trading Platforms in 2025 guide.
Frequently Asked Questions (FAQs)
Q1. What drove the 20.5% rise in NSE demat accounts?
A mix of user‑friendly apps by Groww and Angel One, market rallies, and lower brokerage fees sparked fresh interest.
Q2. How many total demat accounts does NSE have now?
As of March 2025, 4.92 crore active demat accounts are registered in NSE.
Q3. Can traditional brokers compete with digital platforms?
Yes—through hybrid models that blend tech ease with personalized advisory, as seen with HDFC Securities and ICICI Securities.
Q4. Why is Dhan seeing 89% growth?
Its intuitive interface and gamified features appeal to younger, tech‑savvy investors.
Q5. Where else can I learn about digital broker comparisons?
Check our post on Best Stock Trading Platforms in 2025 for detailed reviews.
Disclaimer
This article is for informational purposes only and does not constitute financial or investment advice. Please consult a certified financial advisor before making any investment decisions.
