Jio Platforms Ltd.’s record $3.1 billion initial public offering helped Angel One Ltd. overtake Zerodha Broking Ltd. to become India’s second-largest brokerage by the number of active investors on the National Stock Exchange of India. The surge in retail participation during the IPO, which saw unprecedented demand, boosted Angel One’s client base significantly. Zerodha, historically the leader in active investor count, fell to third place behind Angel One and the top broker, Groww.
Analysts attribute Angel One’s rise to aggressive marketing and digital onboarding during the high-visibility IPO period. The shift reflects broader trends of increasing retail investment in Indian equities, driven by easier access and heightened market interest.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing