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<ul><li>Upstox has entered into a multi-year partnership with IPL.</li><li>IPL will begin on April 09, 2021.</li></ul>The Indian Premier League Governing Council today announced Upstox, a digital brokerage firm, as an official partner for IPL. This will be a multi-year partnership. Brijesh Patel, Chairman, IPL, said, "We are pleased to have Upstox on board as an official partner of the Indian Premier League 2021. As one of the most-watched cricket leagues in India, IPL along with Upstox, one of India’s fastest-growing digital-trading platforms, can create a huge impact on the audience, especially the millions of Indian youth who are financially independent and looking for more options to manage their portfolios." Commenting on the partnership, Ravi Kumar, Co-founder &amp; CEO, Upstox said, "We are thrilled to partner with BCCI for <keyword id="7866747" type="UNKNOWN" weightage="20" keywordseo="ipl-2021">IPL 2021</keyword>. In India, Cricket is more than just a sport. It is an important part of our culture and social life, with a huge fan-following, especially by the millennials. IPL has paved a bold new direction to Indian cricket in the last decade just like Upstox, which is revolutionizing finance in India. This is what sparks a natural connection between both the brands. With this integration of sports and finance, we intend to spread financial awareness across the country." <div type="Article" hostid="261" msid="81112831" title="What does Vivo coming back as IPL's title sponsor mean for BCCI and the brand?" mstype="2" mssubtype="0"></div>

BCCI onboards brokerage firm Upstox as an official partner for IPL

<ul><li>The number of new accounts added declined 18% on a monthly basis to 16 lakh in April as against 19 lakh in March.</li><li>The total number of demat accounts stood at 11.6 crore in April, 2023.</li><li>Total number of active user clients at NSE stood at 3.12 crore in April 2023.</li></ul>Additions of new demat accounts continued to slow in April to 16 lakh from 19 lakh in March, amid uncertain market conditions. As many as 21 lakh accounts were added in February. The total number of demat accounts stood at 11.6 crore in April, 2023. The incremental number of new accounts added declined 18% on a monthly basis to 16 lakh in April as against 19 lakh in March, according to Motilal Oswal Financial Services. The report shows that the figure is significantly lower than the average new accounts added per month in FY23, at 21 lakh. Also, the total number of active user clients at NSE declined sequentially for the tenth consecutive month by 16.3% on a yearly basis, and by 4.6% on monthly basis to 3.12 crore in April 2023. <keyword id="17422532" type="General" weightage="20" keywordseo="demat-account-additions" source="Orion">Demat account additions</keyword> had picked up during the pandemic, but as markets turned erratic and FII enthusiasm waned, it seems to be having an impact on the sentiment of retail investors too. Performance of discount brokers in April <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Broking firm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Month on month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Client count </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.6% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">63 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.3% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">43 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upstox </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-23.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">53 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 lakh </td></tr></tbody></table>Source: Motilal Oswal Financial Services Currently, the top five discount brokers including Zerodha, Upstox, Angel One, Groww and 5Paisa Capital account for over 60% of the market share of active clients, which was earlier being held by traditional brokerage houses. The waning investor interest amid market volatility is also reflected in the declining client additions of these discounted brokers. Overall market share of active clients <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage house </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">April 23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year on Year growth </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha Broking </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">300 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upstox </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-840 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Angel One </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.7% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">350 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">630 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-110 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.4% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">30 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.9% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-50 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sharekhan </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.1% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20 bps </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IIFL Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-190 bps </td></tr></tbody></table>Source: Motilal Oswal Investment Services SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tata-motors-in-top-gear-jlr-to-drive-growth-in-fy24/articleshow/100252339.cms">Tata Motors in top gear, JLR to drive growth in FY24</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/fii-inflows-may-remain-consistent-in-may-with-turn-in-rate-cycle/articleshow/100234813.cms">FII inflows may remain consistent in May with turn in rate cycle</a>

New demat account additions decline 18% in April; Zerodha, Upstox, Groww impacted

<ul><li><keyword id="3489555" type="General" weightage="20" keywordseo="upstox" source="Orion">Upstox</keyword> has raised $25 million from Tiger Global, at a valuation of $3.4 billion.</li><li>Upstox is the 40th startup to enter India’s unicorn club, and the seventh startup this month.</li><li>The company, run by RKSV Securities, claims to have 6 million users registered on the platform.</li></ul>Online investment platform Upstox is now valued more than its rivals <keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword> and <keyword id="6189412" type="General" weightage="20" keywordseo="groww" source="Orion">Groww</keyword>. The company has raised $25 million from US-based Tiger Global, at a valuation of $3.4 billion. According to filings with the Ministry of Corporate Affairs, Upstox has approved the allotment of 18,671 Series C shares to Tiger Global at an issue price of ₹98,608 to raise ₹185 crore ($25 million). This development was first <a href="https://entrackr.com/2021/11/exclusive-upstox-turns-unicorn-with-fresh-round-from-tiger-global/">reported</a> by Entrackr. Business Insider’s sources have confirmed the valuation of this round, highlighting that this investment is part of a larger round. Upstox is the 40th startup to enter the unicorn club. It is also the seventh company to hit that milestone this month. Others include the Good Glamm Group, Curefit, Mensa Brands, No Broker and Spinny. A unicorn, in startup parlance, is a company valued more than a billion dollars. Upstox was founded by Ravi Kumar, Kavitha Subramanian and Shrini Viswanath in 2008. The company started off as a proprietary trading firm RKSV Securities, but ventured into retail brokerage with the launch of Upstox in 2012. It offers online stock market investment services, advisory services, mutual fund investments and more. The company, run by RKSV Securities, claims to have 6 million users registered on the platform. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Players </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Users </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Upstox </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zerodha </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">AngelOne </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">4.12 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Groww </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2 million </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Media reports Last month, Groww had raised <a href="https://www.businessinsider.in/business/startups/news/loss-making-groww-is-now-the-most-valued-investment-platform-even-though-some-of-its-peers-make-profits/articleshow/87249142.cms"> $251 million at a valuation of $3 billion</a>. Zerodha, which has never raised any capital from private investors, valued itself at $2 billion earlier this year in order to buy back employee stocks and give them returns. Nithin Kamath, the co-founder and chief executive officer (CEO) of Zerodha, believes that the valuation it has accorded to itself could be conservative. Hurun had valued Zerodha at<a href="https://www.businessinsider.in/business/startups/news/zerodha-valued-itself-at-1-billion-hurun-unicorn-startups-list-bumps-it-up-to-3-billion-but-founder-says-valuation-doesnt-matter/amp_articleshow/77347721.cms?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts"> $3 billion in 2020</a>. Upstox hit profitability in the financial year 2019, but reported a loss of ₹37.99 crore in FY20 after a profitable run for two years. Rata Tata-backed Upstox has two subsidiaries — RKSV Securities and RKSV Commodities, with RKSV Securities being the bigger one. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/interview-these-former-isro-scientists-are-hoping-for-the-biggest-ever-funding-in-the-indian-spacetech-industry/articleshow/87911503.cms" data-type="tilCustomLink">INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry</a> <a href="https://www.businessinsider.in/india/news/earthquake-of-6-1-magnitude-hits-india-myanmar-border-region/articleshow/87922521.cms" data-type="tilCustomLink">Earthquake of 6.1 magnitude hits India-Myanmar border region</a> <a href="https://www.businessinsider.in/science/news/scientists-are-closely-tracking-a-covid-19-variant-with-a-worrying-number-of-mutations-they-dont-yet-know-if-its-more-infectious-/articleshow/87916195.cms" data-type="tilCustomLink">Scientists are closely tracking a coronavirus variant with a 'worrying' number of mutations. They don't yet know if it's more infectious.</a>

Ratan Tata-backed Upstox is now valued more than its rivals Zerodha and Groww

At a time when traditional brokers are struggling to continue their services due to nationwide lockdown to curb the spread of <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> pandemic, online brokerages, including <keyword id="3489555" type="PERSON" weightage="20" keywordseo="upstox">Upstox</keyword>, 5paisa.com and <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword>, have seen a spurt in business. The current crisis seems to be a blessing in disguise for these brokerages, as their number of clients as well as orders increased in March. Moreover, there has been a significant increase in trading volumes and demand for opening new accounts as well. "Currently our entire operations is being carried out smoothly without any hindrance. As 99.9 per cent of our turnover happens online there is hardly any impact on our business. Actually with <keyword id="31671" type="CITY" weightage="20" keywordseo="markets">markets</keyword> being volatile client activity has increased and business has shown decent growth this month," said Prakarsh Gagdani, CEO, 5Paisa.com. Though our customer support on telephone is not working, the company is answering all client queries on emails and hence are able to manage everything properly, he added. Gagdani further said, in March, "the acquisition growth rate grew by over 60 per cent and revenues also saw a decent growth". Angel Broking CMO Prabhakar Tiwari said, "the current crisis is a blessing in disguise to help showcase our digital brokerage services, as a much superior option in comparison to other traditional broking firms". The brokerage saw more than one lakh new customers acquisition in March. Interestingly, a significant number of customers are from tier II and tier III towns. "Even our existing customers have rewarded us by doing more than two million trades in a single day creating a new record last month," he added. Upstox said it is witnessing unprecedented increase in trading volumes and demand for opening new accounts. The online discount broker said it had witnessed about 55 per cent increase in the number of orders in March compared to the previous month. Further, it also expects to beat its earlier industry record of 1 lakh new client additions in a single month. It had registered an addition of 1 lakh new clients in December. Apart from these, investment platform Smallcase Technologies has also seen an increase in its new investor numbers in March. The platform has registered a 1.5 times increase in new investors in March compared to the previous month. It has seen a 3.5 times growth in its new accounts leads in March on a month-on-month basis. Even, orders have risen by 1.6 times in the month. Smallcase is an investment platform that allows Sebi registered professionals to efficiently share their research as investable "smallcases" to their clients. A 21-day nationwide lockdown is in force in the country to contain the spread of coronavirus pandemic. <keyword id="6357440" type="DEFINITION" weightage="20" keywordseo="Stock-Market">Stock market</keyword>s markets across the world witnessed high volatility in March amid concerns of coronavirus pandemic and its impact on the global economy. In India, the stock market saw massive decline in the month of March, including trading halt on two occasions last month. Last month, stock brokers' association Amfi had urged the markets regulator Sebi to allow systematic closure of the stock markets till the nationwide lockdown remains in force. SEE ALSO:<a href="https://www.businessinsider.in/topic/coronavirus">Coronavirus News and Updates</a> <a href="https://www.businessinsider.in/india/news/how-to-check-coronavirus-symptoms-at-home/articleshow/74960334.cms">What are the Coronavirus symptoms and how to check for them at home</a>

Stock brokers see a record number of customer additions even as markets slump

<ul><li>Like a savings account holds money, a <keyword id="105386" type="General" weightage="20" keywordseo="demat-account" source="Orion">demat account</keyword> holds investors’ investments -- <keyword id="6354298" type="General" weightage="20" keywordseo="stocks" source="Orion">stocks</keyword>, mutual fund units, bonds etc in one place.</li><li>To invest in the stock market, it is mandatory to have a demat account.</li><li>India’s penetration into financial markets is low, given only one in every 23 people has a demat account in the country.</li></ul>India’s benchmark index Sensex, which has delivered 27% returns in the last one year has got a lot of investor attention, thereby increasing the number of demat account holders. This is because it is mandatory to open a demat account in order to invest in any financial products. Like a savings account holds money, a demat account holds investors’ investments -- stocks, mutual fund units, bonds etc., in one place. Demat account holders in the country increased by almost 50% to 6 crore as of June 2021, from 4.02 crore in February 2020. If you're looking to invest in the stock market, debt instruments, mutual funds or even <keyword id="35156" type="General" weightage="20" keywordseo="ipos" source="Orion">IPOs</keyword>, here is how you can do it by opening a demat account. Here are some example of brokers you can open your account with: <ul><li><keyword id="46252" type="General" weightage="20" keywordseo="motilal-oswal" source="Orion">Motilal Oswal</keyword></li><li><keyword id="12292089" type="General" weightage="20" keywordseo="angel-one" source="Orion">Angel One</keyword></li><li>HDFC Securities</li><li>Sharekhan</li><li><keyword id="759851" type="General" weightage="20" keywordseo="zerodha" source="Orion">Zerodha</keyword></li><li>Upstox</li><li><keyword id="6189412" type="General" weightage="20" keywordseo="groww" source="Orion">Groww</keyword></li><li>5 Paisa</li><li>Paytm Money</li></ul>List of important documents required for opening of a demat account While a demat account can be easily opened online now, one requires several documents to submit online for the know your customer (KYC). <ul><li>Identity proof from any one of these — Aadhaar card, PAN card, driving licence, voter ID card etc.</li><li>Address proof from any one of these — passport, electricity bill, ration card, gas bill, landline telephone bill etc.</li><li>Cancelled cheque of bank account you want to transact with.</li><li>Proof of income from any of these — latest salary slips, income tax returns copy, bank statement for last 6 months, copy of Form 16.</li></ul>Further, charges to open a demat account differ from banks to stock brokerages to discount brokers to online investment platforms. A typical online investment platform like Zerodha charges around ₹200-300 annually. Banks charge up to ₹900 to open such an account. Steps to open a demat account Step 1: Choose the broker you want to open an account with. Step 2: Visit the company’s website and start the demat account opening process. Step 3: Fill out the information required for know your consumer (KYC). Step 4: Submit the scanned copies including identity proof, bank account statement, income proof, photo to complete the KYC. Step 5: After submitting all the documents and verifying it, pay the required amount for trading. Step 6: At the end of the process you will receive a unique 16-digit beneficial owner identification number (demat account no.), which will be used to access the demat account online. Step 7: Login with the demat account number and walk in to your investments. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/saas-firm-rategains-ipo-opens-tomorrow-should-you-invest/articleshow/88125982.cms">SaaS firm RateGain’s IPO opens tomorrow — should you invest?</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nifty-50-stocks-like-indusind-bank-tata-consumer-bajaj-finserv-tcs-hcl-drop-more-than-3-on-fear-of-rising-omicron-cases/articleshow/88122922.cms">Nifty 50 goes below 17,000-mark on rising Omicron cases, fear of lockdown</a>

Want to invest in stocks and IPOs? Here is how you can open a demat account

In a massive blow to most stock broking firms, market regulator SEBI has directed all stock exchanges, depositories, and clearing corporations (collectively known as market infrastructure institutions or MIIs) to charge transaction fees from brokers on a uniform basis, doing away with the current system where these charges varied greatly and depended heavily on broker's trading volume or activity. The new rules will be in effect starting October 1, 2024. Generally, stock exchanges like BSE and NSE charge a specific, slab-based transaction fees from brokers like <keyword id="19947165" type="General" weightage="20" keywordseo="FYERS" source="keywords" meta.keywordsubtype="org" meta.entityname="FYERS" meta.hostid="261" meta.entityid="FYERS">FYERS</keyword>, <keyword id="19913826" type="General" weightage="20" keywordseo="zerodha" source="keywords">Zerodha</keyword>, Groww and Upstox, depending on the slab within which their overall trading turnover falls into. The higher the broker's turnover or trade volume, the lower the transaction fee they end up paying. With SEBIs new guidelines, firms like Zerodha and Upstox will have to bear a significant financial brunt going ahead. The same was very visible in the market's movement today, with stocks of most stock broking firms taking a serious hit. Stocks of Angel One tanked by 8.72%, while Geojit Financial Services dipped by 6.68%. Following their close lead was Motilal Oswal Financial Services, which shed 4.19% following the announcement. The difference between what brokers charge the customers, and what the exchanges charges the broker is known as a rebate, and it makes for a significant revenue source for most brokers. As per Nithin Kamath, who heads Zerodha, "We earn about 10% of our revenue from such rebates. For us, this has increased from 3% to 10% in the last four years because of the massive increase in options turnover". <h2>Options Trading: Of losses, heavy trades and addiction</h2>If option trading were a sea, you'd find it full of Indians trying to make through, despite its strong, uncertain, and erratic currents. In 2023, Indian investors traded around 85 billion contract options, far more than any other country in the world. No wonder, 90% of revenue that Zerodha generated from such rebates were attributable to options trading alone. However, for a novice investor, options trading is no easy endeavor, and as SEBI pointed out in 2022, only 1 out of 10 F&amp;O traders managed to make profits. The average loss amount was a staggering Rs 1.1 lakh. But amidst soaring trading volumes post Covid, brokers made merry with high rebates and hefty profits, which is why this move comes as an unpleasant surprise to many. According to Tejas Khoday , co-founder and CEO of FYERS, this model threatens to destabilize the discount brokerage business completely. "This revenue stream, which constitutes between 15-30% of the larger brokers' revenues and over 50% for deep discount brokerages, is crucial for sustainability. Without this income, many brokers may have to introduce brokerage fees to remain viable". "In the short term, traders may benefit from reduced costs. However, in the long term, brokerage fees will likely rise as intermediaries attempt to recover revenue losses. While retail customers are charged the standard slab rate, brokers benefit from a lower fee due to high turnover. For instance, the base exchange transaction charge for options is 5,000 rupees per crore, but a broker with high turnover might be charged only 4,000 rupees per crore. The 1,000 rupees per crore difference constitutes the broker's income, which stands jeopardized", he continued. In his blog post, Zerodha's Kamath also hinted at a possible fee hike after this mandate. "As a business, we may have to introduce a brokerage fee for equity delivery investments, which is currently free, or/and increase F&amp;O brokerage. In all likelihood, we will probably have to let go of the zero brokerage structure for equity delivery trades which we have been able to offer for the past 9 years", he said. As Devam Sardana, Business Head of Lemonn, a new-age stock broking firm notes, this move will definitely hit brokers' revenue streams especially those with scale. "With scale, many brokers enjoyed the benefit of charging users a certain amount of transaction fees and eventually gaining a rebate from exchanges based on their turnover. This essentially created arbitrage and created a growth flywheel for brokers". As bigger brokers' revenues became higher, he explains, it allowed them to subsidize certain products and gain even higher market share. But this move does 2 things: it levels the playing field for all brokers and puts pressure on brokerage fees across the board. <h2>Chance for small brokerages to shine</h2>But Trivesh D, COO of <keyword id="20031469" type="General" weightage="20" keywordseo="TRADEJINI" source="keywords" meta.keywordsubtype="org" meta.entityname="TRADEJINI" meta.hostid="261" meta.entityid="TRADEJINI">Tradejini</keyword>, a Bengaluru-based stock broking firm, calls this a watershed moment for small and midsized brokers. "For years, small and mid-sized brokers have struggled to compete with larger brokers who enjoy significant discounts on transaction charges, particularly in the Futures &amp; Options (F&amp;O) segment. Now, they will finally get a level playing field. This will likely have a profound impact on brokers with high turnover. These brokers, who previously benefited from hefty discounts, will now face a more equitable charge structure. This change promotes fairness and transparency in the market, ensuring that no single entity has an undue advantage based on volume alone," he continued. However, Nilesh Sharma, President &amp; Executive Director of SAMCO Securities, sees it as an adverse move, one that will disincentivize brokers from working towards generating huge turnovers, thereby impacting market making. "We estimate the broking industry revenue (and, in turn, profitability) to be hit by around Rs 2,000 crores. This will lead to an increase in brokerage rates, as it will become unsustainable for the broking companies to take such a big hit on their profitability. Thus, this will lead to a drastic reduction in trading volume and the resultant price discovery," he cautions. <h2> How does the customer benefit?</h2>SEBI has asked MIIs to ensure that the charges that are recovered from end client remain "true to label." This means that MIIs should receive the exact amount that was levied by brokers on individual traders or end clients. While brokers recover these charges daily, MIIs are paid on a monthly basis, depending on the trade volume slab a broker falls into, leaving grounds for broker members to tinker around or confusing the end client that the actual fees charged by MIIs are high. But, as Tradejini's COO explains, "for end customers, this move promises several benefits. A uniform fee structure means that the savings from transaction charges are more likely to be passed on to clients rather than being pocketed by large brokers.". All in all, this could mean a sharp reduction in transaction costs for end investors, thereby making trading financially accessible and affordable. It will also foster a competitive landscape where brokers are encouraged to compete on service quality and pricing rather than simply relying on their ability to secure <keyword id="22262361" type="General" weightage="20" keywordseo="volume-based-discounts" source="keywords">volume-based discounts</keyword>," he signs off.

Blow to discount brokers like Zerodha as SEBI bats for uniform charges by MIIs; how will you be impacted?

<ul><li><keyword id="3742694" type="General" weightage="20" keywordseo="sapphire-foods" source="Orion">Sapphire Foods</keyword> India, the operator of KFC and Pizza Hut outlets, is looking to raise over ₹2,000 crore through the public listing.</li><li>Analysts believe riding on strong brands, fine dine experience and focus on delivery strength the company is well positioned to capture the new age wave of change in eating habits.</li><li>You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.</li></ul>Today (November 11) is the last day to subscribe to the initial public offering (IPO) of Sapphire Foods India, the operator of KFC and Pizza Hut outlets. So far, in the first two days of the IPO bidding process, it has already been subscribed over 1.07 times. Shares reserved for retail investors have been oversubscribed by 5.38 times on the second day of the IPO bidding process. While the IPO has received decent response from investors, its share premium in the grey market slipped to ₹85 from ₹125 earlier. You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others. The company is looking to raise over ₹2,000 crore through the IPO that consists of a pure offer for sale of 1.75 crore shares by existing shareholders and promoters. The company is the largest franchisee of Yum! Brands in the Indian subcontinent. Besides, the company is backed by marquee investors such as Samara Capital, Goldman Sachs, CX Partners and Edelweiss. As of June 2021, the company owned and operated 209 KFC restaurants in India and the Maldives, 239 Pizza Hut restaurants in India, Sri Lanka and the Maldives, and two Taco Bell restaurants in Sri Lanka. Analysts believe the company is well positioned to capture the new age wave of change in eating habits. “Riding on strong brands, fine dine experience and focus on delivery strength the company is well positioned to capture the new age wave of change in eating habits. The quick service restaurant (QSR) segment is expected to witness a significant rebound in the coming years driven by the economic recovery of the country and improvement in the purchasing power of consumers,” said brokerage firm KR choksey while recommending a ‘subscribe’ rating to the IPO. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/paytm-ipo-subscription-day-2/articleshow/87608830.cms">Paytm IPO scrapes through after two days of underwhelming response</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/latent-view-ipo-analysts-recommend-subscribing-on-strong-demand-for-data-analytics/articleshow/87622215.cms">Analysts recommend subscribing to Latent View Analytics IPO on strong demand for data analytics</a>

Sapphire Foods IPO — Today is the last day to subscribe, grey market premium at ₹85

<ul><li>From October 1, <keyword id="30067" type="General" weightage="20" keywordseo="rbi" source="Orion">RBI</keyword>’s new auto-debit rules will be effective after which banks will have to process an additional authentication step for all recurring transactions through debit cards, credit cards and UPI.</li><li>Under the new norms, users who have set automated recurring payments for utility bills, phone recharge, OTT platforms etc., through above payment methods will receive notification from the bank every time before auto-transaction to approve or cancel payment.</li><li>The new norm looks to ensure secure and safe payments by inserting checkpoints before every auto transaction made.</li></ul>Reserve Bank of India’s (RBI) new norms for auto-debit transactions will come into effect from today, October 1, according to which banks are required to notify users or rather take their confirmation before every auto generated transaction. This rule goes for those using debit/credit cards, wallets and unified payments interface (UPI) for transactions. Those who have e-mandated their recurring payments through net banking mode for paying either utility bills, phone recharge, over-the-top (OTT) will continue to be the same. Apart from these, systematic investment plan (SIP) transactions will also not be impacted. This is because most SIP transactions happen through the national automated clearing house (NACH) mandate, which is executed directly by the bank. So, investors who have their ongoing investment through apps like Zerodha, Upstox, Groww, Motilal Oswal, Angel Broking and other broking firms aka investment platforms need not worry about their SIP payments. “Zerodha uses an e-mandate facility on the NPCI NACH platform to allow its clients to set up auto-debits. Since the auto-debit instruction is authorised by the client using their bank account, the new RBI rules do not affect this channel. All existing and new auto-debit instructions will be carried out in the same mode as before,” said a spokesperson at Zerodha. An e-mandate is a standing instruction initiated by the RBI and the National Payments Corporation of India (NPCI) that allows businesses to collect recurring payments of up to ₹5,000. For recurring payments above Rs 5,000, banks will require an additional link for authentication as they are not eligible for e-mandate based recurring transactions. This is also because SEBI doesn’t allow stock brokerage firms to accept debit or credit cards from users to make transactions through the investment platform. Basically, the new <a href="https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=11668">guidelines </a>require users to opt for an e-mandate facility through a one-time registration process, which can only be successful once the user validates using a one-time password (OTP), besides entering their bank/card/UPI details. Users will also get an option to pause, modify or cancel their recurring transactions. So if you have been making payments to your Netflix account or any other OTT platform that lets you make recurring payments, you will have to set up an e-mandate. <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-200-million-from-softbank-falcon-edge-at-valuation-of-3-billion/articleshow/86649236.cms">5-year old Ola Electric is now worth over a half of its older sibling Ola</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/from-netflix-and-hotstar-to-airtel-to-jio-bills-brace-for-surprises-as-rbis-guidelines-on-auto-debit-transactions-kick-in-from-october-1/articleshow/86642500.cms">From Netflix and Hotstar to Airtel to Jio bills, brace for surprises as RBI’s guidelines on auto-debit transactions kick-in from October 1</a>

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