NSE’s New Demat A/Cs Surge Over 20% In FY25

New Delhi: India’s capital markets witnessed remarkable retail participation in FY25, with over 84 lakh new active demat accounts added on the National Stock Exchange (NSE), a 20.5 per cent year-on-year increase, taking the total tally to 4.92 crore.

At the forefront of this growth are two digital brokerages -- Groww and Angel One -- which together accounted for over 57 per cent of these net additions. Groww emerged as the single-largest contributor, adding 34 lakh new accounts -- a 40 per cent share of NSE’s growth. Its active client base rose from 95 lakh in March 2024 to 1.29 crore in March 2025, reflecting a sharp 36 per cent year-on-year increase. Groww’s market share rose from 23.28 per cent to 26.26 per cent during the same period, according to NSE data. Angel One added 14.6 lakh accounts during FY25, contributing 17.38 per cent to NSE’s overall growth. The platform’s active user base climbed to 75.7 lakh, with a market share of 15.38 per cent.

Together, Groww and Angel One accounted for 48.6 lakh out of the 84 lakh new active demat accounts added to the NSE.