LIC IPO will see record demat account openings in India: Paytm Money CEO

Big push for new demat accounts likely to come from smaller cities and towns, as many investors will open them only to apply for the IPO

The Life Insurance Corporation (LIC) IPO will result in one of the best months for Indian capital markets despite a broader sell off in the equities over the past one month, according to Paytm Money CEO Varun Sridhar.

"With the LIC IPO coming up, we believe that May will be a record month for demat account openings in recent times. It is a milestone event for Indian capital markets and is expected to bring millions of new investors,” he said.

All eyes are on the life insurance behemoth's IPO which is set to open on May 2 for anchor investors