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What Is a Brokerage Account?

Today, you can trade in shares easily by opening an account online. However, before you make your first investment, there is one term you are almost certain to come across: brokerage account.

For many beginners, this is also where the confusion starts. Is it the same as a Demat account? Does it store your shares? Is it only meant for traders? These are common questions, and understanding what is a brokerage account can help clear them up before you begin investing.

A brokerage account is your connection to the stock market. It allows you to buy and sell investments through a registered broker while keeping track of your transactions, available funds, and portfolio. In this guide, we’ll explain how it works, why you need one, the different types available, and how to choose the right account for your investment journey.

What Is a Brokerage Account?

A brokerage account is an investment account. It is opened with a registered stockbroker that allows you to buy and sell financial securities. The broker acts as the intermediary to complete the trades properly.

If you are wondering what is a brokerage account?, think of it as your gateway to the stock market. Besides placing buy and sell orders, it also helps you manage your investments by displaying your portfolio, available balance, transaction history, and applicable charges in one place.

The brokerage account definition is quite simple. It is an account that enables investors to access financial markets and manage their investments through a registered broker. Whether you are investing for long-term wealth creation or trading regularly, this account forms the foundation of your investing journey.

How Does a Brokerage Account Work?

Once your brokerage account is active, investing becomes a straightforward process. Every time you decide to buy or sell a security, your broker acts as the bridge between you and the stock exchange.

Open a Brokerage Account: The first step is to open a brokerage account. You must do this with an SEBI-registered broker. During the application process, you complete your KYC verification, submit the required documents, and link your bank account. Once your application is approved, your account is activated and ready for investing.
Add Funds to Your Account: Before you can buy any security, you need to transfer money. This will be from your linked bank account to your brokerage account. This amount becomes your available investment balance. This is the amount you can use to purchase stocks, ETFs, mutual funds, or other securities.
Place Your Investment Order: After adding funds, you can browse the available securities on your broker’s trading platform. Once you decide what you want to invest in, enter the quantity and place your buy or sell order.
Your Broker Sends the Order to the Stock Exchange: Once you confirm your order, your broker forwards it to the relevant stock exchange, such as the NSE or BSE. The exchange then searches for a matching buyer or seller based on the order details and current market conditions.
The Trade Is Executed: When a matching order is found, the transaction is completed. Your broker immediately updates the order status and sends you a confirmation that your trade has been successfully executed.
Settlement Takes Place: After the trade is executed, the settlement process begins. If you have purchased securities, they are credited to your Demat account, and the payment is deducted from your brokerage account. If you have sold securities, the sale proceeds are credited back after settlement. The securities are kept electronically with depositories like CDSL and NSDL.
Track Your Investments: Once the transaction is complete, your brokerage account automatically updates your portfolio. You can view your holdings, available balance, transaction history, realised gains or losses, and account statements whenever required.

Read Also: What is a Stock Broker?

Types of Brokerage Accounts

It is important to know that every trader has different needs when it comes to opening a brokerage account. There will be people who can manage everything on their own, and there will be traders who need support.

This is why you must know the options in your hand before you actually finalise one. These are as follows:

Type	Suitable For	Key Feature
Cash Account	Beginners	Invest using available funds only
Margin Account	Active traders	Trade using borrowed funds
Discount Brokerage Account	Self-directed investors	Lower brokerage charges with online trading & Investing.
Full-Service Brokerage Account	Investors seeking guidance	Research, advisory services, and relationship managers
Joint Brokerage Account	Families or business partners	Shared ownership of investments

While all the options are great, the choice is largely based on the investor’s needs. You must consider your goals and experience. Also, consider the level of support that you would need when trading.

How to Choose the Right Brokerage Account

Choosing the right brokerage account can help you greatly with your trading as well. This will ensure that you do not just trade right but also will ensure that all your trades end with positive outcomes. So, here are a few things to know:

Compare the Charges: Check the brokerage, annual maintenance charges (AMC), and other applicable fees. Understanding the complete cost helps you avoid unexpected expenses later.
Check the Investment Options: Choose a broker who can help you better. See if you can trade in multiple assets. If you can do all these using a single platform that’s even better.
Evaluate the Trading Platform: The platform should be simple, fast, and reliable. You should look for the features that you can gain with the platform. This will be very important for smooth running.
Look for Research and Support: Research reports, educational resources, and responsive customer support for the best. This will ensure that the trades are supported and you have all the details you need.
Verify the Broker’s Registration: It is important that you open the account with an SEBI-registered broker only. This will ensure that the rules are being followed and everything is legit in nature.

Importance of Choosing the Right Brokerage Account

Your brokerage account is where every investment begins. The right account can make investing simpler and can help you greatly. Here are a few reasons why selecting the right brokerage account matters.

Reduces Your Overall Investment Costs: Brokerage charges, annual maintenance fees, and other transaction costs are all that impact your returns. You need to know all these in advance to ensure you understand the trade-offs. Choosing an account with transparent pricing helps you avoid unnecessary expenses.
Makes Investing More Convenient: A user-friendly trading platform can help simplify trading. You can manage your portfolio and complete all tracking from one place. This will save time and can avoid any kind of issues.
Gives Access to Multiple Investment Options: A good brokerage account can help you trade in multiple assets. These can be stocks, ETFs, mutual funds, IPOs, bonds, and other securities. You can do all this through a single platform, making portfolio management much easier.
Provides Research and Investment Tools: Many brokers can help you with reports, insights, and suggestions. They can guide you on all the conditions that are there and which need to be worked upon, and which you can avoid.
Ensures Better Security and Support: A reliable broker follows regulatory guidelines and offers secure transactions along with responsive customer support. This gives you greater confidence while investing and managing your account.

How to Open a Brokerage Account With Pocketful

Opening a brokerage account with Pocketful is a simple online process. You can complete the entire process online. The steps that you would need to follow are:

Sign Up on Pocketful: Visit the Pocketful website or download the mobile app. Register using your mobile number and email address to begin the account opening process.
Complete Your KYC: Enter your personal details. Here, you would complete the online KYC verification. Keep your PAN card, Aadhaar card, and other required documents ready for a smooth application process.
Link Your Bank Account: Add your bank account details so you can transfer funds for investing and receive money when you sell your investments.
Submit Your Application: Review the information you’ve entered. Once checked, submit your application. Pocketful will verify your details and process your request.
Start Investing: Let your brokerage account get activated. Now, you can log in to your Pocketful account. All you need to do is add funds and begin investing in no time.

Conclusion

A brokerage account is the foundation of your investment journey. It allows you to invest and supports you in your trading journey. But when you finalise the account, you must ensure that the platform is right for you.

One such platform is Pocketful. You can get access to stocks, ETFs, mutual funds, IPOs, and more through a seamless digital platform. It is perfect for both new and experienced investors to take their next step with confidence.

S.NO.	Check Out These Interesting Posts You Might Enjoy!
1	Best SEBI Registered Brokers in India
2	Difference Between Demat Account and Trading Account
3	Top Brokers Offering Lifetime Free Demat Accounts (AMC Free)
4	Demat Account: Fees & Charges
5	Types of Trading Accounts

Frequently Asked Questions (FAQs)

What is a brokerage account?
A brokerage account is an investment account. It is opened with a registered broker. It allows you to buy, sell, and manage financial securities such as stocks, ETFs, mutual funds, and bonds.
Is a brokerage account different from a Demat account?
Yes. A brokerage account is used to place and manage investment transactions. On the other hand, a Demat account stores your purchased securities electronically.
Can I open more than one brokerage account?
Yes. You can open multiple brokerage accounts with different brokers. You can compare the options, trade where you find better features, and manage them.
Can I invest in mutual funds through a brokerage account?
Yes. Many brokers allow you to invest in mutual funds. You can do this along with stocks, ETFs, IPOs, bonds, and other investment products through a single brokerage account.
Can I open a brokerage account online?
Yes. Most brokers, including Pocketful, offer a completely online account opening process. You can complete your KYC digitally, submit the required documents, and start investing once your account is activated.

June 23, 2026

Mutual Fund Redemption Explained

Most investors spend ages trying to work out where to put their cash, but only a tiny handful of them think about how to get it back – until of course they actually need it. That’s where redemption in mutual fund investing comes in. Whether you’re taking out cash to hit a goal, to cover an unexpected bill or simply because you’ve switched to a different fund that does better for you, having a handle on how this works can save your bacon from nasty surprises like exit loads & delayed payouts, or worse – having to pay the wrong price for your shares.

Meaning of Mutual Fund Redemption

Redemption in a mutual fund simply means selling your mutual fund units back to the Asset Management Company (AMC) and receiving cash in return. When you invest in a mutual fund, you are allotted units based on the Net Asset Value (NAV) on that day. When you redeem, those units are cancelled, and you get the equivalent money based on the NAV on the date of redemption credited to your bank account.

Think of it this way, you bought 1,000 units at an NAV of ₹50 (total investment: ₹50,000). If the NAV has risen to ₹75 when you redeem, you receive ₹75,000. That ₹25,000 difference is your gain.

The mutual fund redemption meaning is, therefore, your formal exit from a scheme, either partially or completely.

Partial vs Full Redemption

Type	What It Means	Best For
Partial Redemption	Withdraw a specific amount or number of units	Meeting a short-term need while staying invested
Full Redemption	Exit the scheme entirely	Goal completion or scheme switching
SWP (Systematic Withdrawal Plan)	Withdraw a fixed amount at regular intervals	Retirees or investors needing periodic cash flow

How to Redeem Mutual Funds Online Step by Step

How to redeem mutual funds online is one of the most searched queries among investors, and for good reason. The process is faster, paperless, and can be done from your phone in minutes.

Here’s how the mutual fund redemption process works online:

Step 1: Log in to your platform. Open the mutual fund app or AMC website where your investment is held. Enter your credentials and navigate to the “My Investments” or “Portfolio” section.
Step 2: Select the fund. Choose the scheme from which you want to withdraw. Click on “Redeem” or “Sell.”
Step 3: Select the redemption category. Should you be looking for a redemption of a particular sum, for example, Rs. 10,000, or a particular number of units, such as 200 units? If you merely wish to receive a partial refund of your investment, then go ahead and simply enter the amount directly.
Step 4: Confirm the details. The website will show the relevant NAV depending on the cut-off time, along with the approximate exit fee and net payment amount.
Step 5: Validate your redemption request. Finish your OTP validation on your mobile or email ID that has been registered.
Step 6: Receive funds in your bank account. Once the platform processes the redemption, the cash is transferred to your bank account using NEFT/RTGS – all within the time frame laid down by SEBI.

Important: Always ensure your KYC is updated and your registered bank account details match with the AMC. A mismatch can delay or reject the payout.

Mutual Fund Redemption Process Offline Method

Not comfortable going online? You can still redeem offline by:

Visiting the nearest AMC branch or Registrar & Transfer Agent (RTA) office
Submit a physical Redemption Request Form with your folio number, fund name, and units/amount to redeem
Carrying a copy of your PAN card and passbook for verification

The offline route takes slightly longer but works just as well. For most investors, the online method through platforms like Pocketful is significantly faster and easier.

SIP Redemption Time: What You Need to Know

SIP redemption time – Where most investors get hung up is a nasty area of confusion for many investors. Now here’s the one thing to keep in mind: each SIP payment gets treated like a completely separate buy with its own clock to beat.

Let’s say you set up a monthly SIP in an equity fund that’s got a 1% exit load that’s gonna shut you for a year. You’ve been chugging along since January 2025 and decide to cash out in January 2026. The thing is, only that very first payment in January 2025 has been around long enough to get out of the exit load zone. Every other instalment is still stuck in that hole and will get hit with the exit load.

This is why figuring out SIP redemption time really counts. By cleverly timing your redemptions so that each instalment has aged enough to get out of the exit load period, you can save yourself a pretty penny over the long haul.

For ELSS funds – remember every single SIP instalment has some mandatory 3-year lock-in time you can’t get around. You won’t be able to cash out a January 2025 instalment before January 2028 regardless of when you started the SIP.

Mutual Fund Redemption Timeline How Long Does It Take?

SEBI regulates the payout timelines for all mutual fund redemptions. Here’s a quick reference:

Fund Category	Redemption Timeline
Liquid & Overnight Funds	T+1 working day
Debt Funds (short to medium term)	T+2 working days
Equity Funds	T+3 working days
Fund of Funds / International Funds	T+3 to T+5 working days( May vary by scheme)

T = the day you submit the redemption request (before cut-off time)

What Can Delay Your Payout?

Submitting the request after 3:00 PM the NAV shifts to the next business day
Bank holidays or weekends only business days count
Incorrect or mismatched bank account details in the AMC folio
Incomplete KYC your request may be put on hold

Cut-Off Time for Mutual Fund Redemption

Cut-off time determines which day’s NAV is applied to your redemption. As per SEBI guidelines:

Before 3:00 PM (weekday) – Same day’s NAV applies
After 3:00 PM or on a holiday – Next business day’s NAV applies

For liquid and overnight funds, the cut-off is 1:30 PM for same-day NAV. Keep this in mind if you need urgent liquidity from such funds.

Exit Load: The Charge You Must Know About

An exit load is a fee the AMC deducts if you redeem before a specified holding period. It is designed to discourage short-term churning and protect long-term investors in the fund.

How Exit Load Is Calculated

Exit Load = Redemption Amount × Exit Load Percentage

Example: You redeem ₹50,000 from an equity fund within 10 months. The fund charges a 1% exit load within 12 months.

Exit Load = ₹50,000 × 1% = ₹500

You receive ₹49,500 instead of ₹50,000.

Typical Exit Load Structure

Fund Type	Exit Load	Holding Period
Equity Funds	1%	If redeemed within 12 months
ELSS Funds	Nil (after lock-in)	3-year mandatory lock-in
Liquid / Overnight Funds	Nil or very low	Usually 0–7 days
Debt Funds	0% to 0.5%	Varies by scheme

Always check the Scheme Information Document (SID) for the exact exit load applicable to your fund before redeeming.

Tax on Mutual Fund Redemption

Redemption is a taxable event in India. The tax treatment depends on the fund type and how long you stayed invested:

Equity Mutual Funds

Holding Period	Gain Type	Tax Rate
Less than 12 months	Short-Term Capital Gain (STCG)	20%
More than 12 months	Long-Term Capital Gain (LTCG)	12.5% (above ₹1.25 lakh exemption)

Debt Mutual Funds

From April 1, 2023 onwards, any gains you make from buying debt funds will be taxed according to how much you earn in a year – so your income tax rate decides how much tax you pay on those gains. Forget trying to figure out whether it’s short or long term, it just doesn’t matter anymore for debt funds.

Note: Remember, the exit load and capital gains tax are two different things that can both whack you on the same redemption – always bear both of these costs in mind when you’re planning to cash out.

The Right Moment to Sell Your Mutual Fund?

Redeeming your mutual fund isn’t always a bad call but when you do, timing really is everything. Here are some good reasons to consider cashing out:

Mission accomplished: You put the money in to pay for your kid’s education and now that’s sorted
Fund not delivering: A fund that’s been consistently under-performing for 3 years – even when the market has bounced back – might be a good one to get rid of
Shifting gears: As you near retirement you might need to switch from having mostly equity to mostly debt in your portfolio
Getting the cash you need: Unexpected medical bills or other financial emergencies can leave you scrambling for cash

And here are some reasons when it’s probably best to hold on:

Panic selling because the market is being a bit dodgy – that’s the time to hang tight
Making a decision based on what you read in the news
Freaking out during a market dip – this is the moment to stay calm and keep long-term plans in place

How to Invest in Mutual Funds with Pocketful

If you want to start investing in mutual funds the right way, Pocketful makes the entire process simple and structured. Here’s how you can get started:

Step 1: Create Your Account

The first step is to download the Pocketful app and sign up. The registration process is quick and takes only a few minutes.

Enter your mobile number and verify with OTP
Set your login credentials
Access your personal dashboard

Step 2: Complete Your KYC

KYC is mandatory before you can invest in any mutual fund in India. On Pocketful, the entire KYC process is online and paperless.

Add your PAN and Aadhaar details
Enter your bank account information
Complete the verification process

Step 3: Select a Mutual Fund

Once your account is ready, you can browse mutual funds based on your goal, risk appetite, and investment horizon. Pocketful lists funds across all major categories.

Choose from equity, debt, hybrid, or index funds
Filter by AMC, fund rating, or past performance
Compare expense ratios before finalising

Step 4: Start Your SIP or Lump Sum Investment

Decide how you want to invest through a monthly SIP or a one-time lump sum. SIPs can be started with as little as ₹100 per month.

Set your SIP amount and date
Choose the fund and confirm your investment
Track your SIP performance directly from the dashboard

Pocketful lets you get in on direct mutual fund plans without having any brokerage commissions to pay, so the expense ratio doesn’t balloon and you actually get to keep more of your cash invested.

Conclusion

Once you know the ropes, the mutual fund redemption process is pretty straightforward. From getting to grips with redeeming in mutual funds to carefully picking when to take your money out via a SIP, every call you make is ultimately going to affect how much real cash you end up with in your pocket. Don’t forget to factor in those exit loads, the time at which the NAV gets cut off and the tax implications before you go ahead and redeem. Then, when the time comes to dump your shares or get in on some new ones, you can do it commission-free with Pocketful – no brokerage on delivery and free mutual fund investing means keeping the bulk of whatever the market decides to give you.

S.NO.	Check Out These Interesting Posts You Might Enjoy!
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2	Best Silver Mutual Funds to invest in India
3	How to Build a Mutual Fund Portfolio
4	Best Gold Investment Schemes in India
5	Best Money Market Mutual Funds in India
6	Best Thematic Mutual Funds in India
7	Top 10 Mutual Fund Distributors in India
8	Best Corporate Bond Funds in India
9	Best Long-Term Mutual Funds to Invest in India
10	Best Mid-Cap Mutual Funds in India

Frequently Asked Questions (FAQs)

What is Redemption in Mutual Fund Investing?
Redemption in mutual fund investing is basically selling your mutual fund units back to the AMC, and getting the equivalent cash in return, based on the price that applies on the actual day you sell – either partially or in full.
How Long Does Mutual Fund Redemption Take Anyway?
It really depends on what sort of fund you have. Liquid funds settle within a day, debt funds settle in two working days, and equity funds take about three working days after you put in your redemption request.
What’s the Deal with SIP Redemption Time?
Each SIP instalment has its own little timeline, so to speak. Your cash is usually credited to your account within one to three days after you make the redemption request – but the exit load period for each instalment will still be calculated from the date it was actually purchased.
Can I Redeem My Mutual Fund Any Time I Want?
Yes, open-ended mutual funds can be redeemed at any point in time. But if you’re thinking of redeeming from an ELSS fund, you’re going to have to wait three years for the lock in period to expire – and if you do it before then, you might get hit with an exit load from another fund.
How Do I Go About Reducing my Mutual Funds Online?
You just log in to your mutual fund account, pick the fund, choose the amount you want to redeem, double check all your details. Then, just follow the prompts, enter your OTP, and the money will get credited to your bank account within the standard timeframe set by SEBI.
Is Mutual Fund Redemption Taxable?
Yep, it is. Equity fund gains that haven’t been held for a year will get taxed at 20% – short-term capital gains. And if you are holding equity fund gains for more than a year but over 1.25 lakh in value, then you will be taxed at 12.5% – long-term capital gains. Debt fund gains are taxed based on your income tax rate.
What Time is the Cut-Off for Mutual Fund Redemption?
For most funds, it’s 3:00 PM on any given business day. That way, if you place a request before then, you’ll get the price that applies that day – but if you place it after that, the price will be for the next business day.

June 23, 2026

PhonePe Case Study: How India’s Largest UPI App Makes Money

It’s impossible to talk about digital payments in India without bringing up PhonePe. What started as a basic UPI app has now grown into one of the biggest fintech powerhouses in the country. Backed by a massive user base, millions of merchants, and the lion’s share of the UPI market, they didn’t just stop at money transfers they’ve successfully broken into insurance, investments, and wealth management. In this PhonePe case study, we’ll break down the PhonePe business model, look at the marketing strategy of PhonePe, dive into the financials analysis of PhonePe, and map out a SWOT analysis of PhonePe to see what really drives their massive success.

PhonePe Company Overview

Today, whenever someone has to send cash or scan a QR code to pay, PhonePe is usually the very first app they think of. Sameer Nigam, Rahul Chari, and Burzin Engineer started the company back in December 2015, and they rolled out their signature UPI platform just a few months later in August 2016.

At the start, the whole setup was just meant for basic digital transactions. But now, you can use the app for pretty much everything mobile recharges, utility bills, buying insurance, or putting money into investments. Because of this massive expansion, it has turned from a simple payment tool into a daily financial necessity for millions of users.

PhonePe at a Glance

Particulars	Details
Founded	December 2015
Founders	Sameer Nigam, Rahul Chari, Burzin Engineer
Headquarters	Bengaluru, Karnataka, India
Parent Company	Walmart
Registered Users	700+ Million (as on April 29, 2025)
Merchant Partners	50+ Million (as on April 28, 2026)
UPI Market Share	Approximately 45%-48%
Core Services	UPI Payments, Bill Payments, Insurance, Lending, Investments, Wealth Management
Daily Transactions	330+ Million Transactions as of early 2025
Business Type	Fintech & Digital Financial Services

The Story Behind PhonePe

PhonePe’s massive growth wasn’t just luck; it came down to playing the right cards at the right moment. This is exactly how a tiny startup pushed its way up to dominate India’s entire fintech market.

The idea originated at Flipkart: The core team was actually pulling shifts at Flipkart when they saw how messy and broken digital checkouts were for normal shoppers. PhonePe came to life because they just wanted to clear up that exact headache.
A major bet on UPI: Back then, almost every tech company was busy burning cash on digital wallets. PhonePe did something different; they skipped wallets entirely and put all their chips on UPI. That single gamble became their ultimate superpower.
Acquisition by Flipkart: Flipkart bought out PhonePe back in 2016. This single move gave the small startup the huge cash flow and ready-made user base they desperately needed to scale up instantly.
Benefiting from demonetization: When the note ban hit late in 2016, hard cash disappeared and online payments just went crazy. Since PhonePe already had a working app live, they easily captured millions of stuck users looking for an alternative.
Gradual business expansion: They never wanted to just stick to simple money transfers. Slowly, they rolled out insurance, mutual funds, and other wealth tools, completely turning a basic payment app into a massive, full-scale financial hub.

PhonePe Growth Journey Timeline of Key Milestones

Year	Key Milestone
2015	Sameer Nigam, Rahul Chari, and Burzin Engineer team up to start PhonePe.
2016	Flipkart acquired PhonePe in April 2016. The UPI-based digital payments app was officially launched in August 2016, following the acquisition.
2017	The number of app downloads has crossed the 10 million mark, driven by a massive surge in usage.
2018	The team starts pushing hard into offline markets with QR codes for local merchants.
2019	Expansion begins with new launches in insurance, gold buying, and micro-investments.
2020	PhonePe cements its spot at the top, leading India in total UPI transaction volumes.
2021	The platform hits a massive milestone, crossing 300 million registered users.
2022	A major corporate reshuffle takes place as they move their official base from Singapore back to India.
2023	They launched Share.Market to seriously scale up their wealth and investment ecosystem.
2024	Financials look strong with a massive jump in revenue and heavy cuts in overall losses.
2025	Total revenue cruises past ₹7,000 crore while internal talks for an upcoming IPO pick up steam.
2026	The focus officially shifts beyond just payments into high-growth areas like lending, insurance, and wealth management.

Industry Overview India’s Digital Payments Revolution

To really get why PhonePe is so huge, you have to look at India’s digital payments space. Over the last few years, UPI has completely flipped the script on how everyday people handle cash and make daily transactions. From tea stalls to large showrooms, payments via QR codes are being made almost everywhere.

UPI Changed the Landscape: By the end of 2025, UPI was processing over 18 billion transactions per month. This demonstrates that UPI has evolved from a mere payment option into an everyday necessity.
Rapidly Growing Digital Market: Affordable internet and the increasing accessibility of smartphones have taken digital payments to villages and small towns. This is why India has emerged as one of the world’s largest digital payment markets.

Read Also: NSE Case Study

Platform	Market Share
PhonePe	45%
Google Pay	37%
Paytm	8%
Others	10%

PhonePe Business Model Explained

Leveraging its massive user base, PhonePe has built an ecosystem where multiple financial services are accessible through a single app. Consequently, the company’s revenue is not solely dependent on payments.

Merchant Solutions: The company provides services such as QR codes, Soundboxes, and payment gateways to merchants and businesses. This constitutes one of PhonePe’s key revenue streams.
Insurance Distribution: PhonePe offers policies for health, vehicle, and travel insurance on its platform, earning commissions on the sale of these products.
Lending Services: By partnering with various financial institutions, the company offers personal loans and other credit products, generating additional revenue.
Wealth & Investments: PhonePe has also expanded its presence in the investment sector. Through platforms like Share.Market and other investment services, the company is attracting new customers.
Business Technology Services: PhonePe also generates revenue from the B2B segment by providing payment processing and digital payment infrastructure to large enterprises.
Diversified Revenue Model: A key strength of PhonePe is that it has evolved beyond being just a payment app to establish multiple revenue streams. This is why its business model appears robust for the long term.

Marketing Strategy of PhonePe

From the very beginning, PhonePe did not limit its marketing efforts to mere advertising. The company’s key strategy was to ensure PhonePe was visible wherever payments took place; consequently, it invested heavily in building an offline merchant network alongside its online campaigns.

UPI-First Approach: While Paytm was focusing on the wallet model, PhonePe made UPI its core product. Later, the company reaped the biggest benefits from the massive surge in UPI adoption.
The Flipkart Advantage: New startups often spend years marketing just to acquire users, but PhonePe benefited from the support of Flipkart’s existing customer ecosystem. This facilitated easier initial adoption for the company.
QR Code Visibility: Today, PhonePe’s QR codes are visible everywhere, from local grocery stores to restaurants. These served not just as payment tools but also as a means of free brand promotion for the company.
Bharat-Focused Expansion: The company realized early on that the next phase of growth would come from smaller towns rather than metro cities. As a result, significant emphasis was placed on regional languages and onboarding local merchants.
Beyond Payments: PhonePe’s strategy went beyond merely increasing transaction volumes. Once the user base had grown, the company began generating additional revenue from that same audience by launching products such as insurance, investment services, and Share.Market.

Financial Analysis of PhonePe

A look at PhonePe’s numbers shows a clear shift in strategy: they are moving away from just chasing new users and are now focused on making real money and cutting down their losses. FY24 turned out to be a massive year for the company, showing a huge jump in revenue and a much healthier financial balance sheet.

1. Revenue Crossed ₹5,000 Crore

PhonePe’s consolidated revenue stood at ₹5,064 crore in FY24, marking an increase of approximately 74% compared to ₹2,914 crore in FY23. This represented one of the strongest annual growth figures in the company’s history.

Financial Year	Revenue (₹ Crore)
FY21	689.6
FY22	1,646
FY23	2,914
FY24	5,064
FY25	7,115

2. Losses Are Narrowing

While PhonePe hasn’t fully crossed into the green yet, they are successfully plugging the leaks. Their consolidated net loss dropped significantly to ₹1,996 crore in FY24, down from a heavy ₹2,795 crore loss the year before.

3. Adjusted Profit Turned Positive

The biggest highlight of FY24 was their adjusted PAT (Profit After Tax). Once you take out the one-time ESOP (employee stock options) costs, the company actually made a profit of ₹197 crore. To put that in perspective, they lost ₹738 crore on the same basis in FY23.

4. Revenue Sources Are Expanding

PhonePe used to rely almost entirely on money transfers and basic payments to make a buck. Today, they have diversified heavily. Money is now rolling in from brand-new avenues like app advertisements, insurance sales, mutual funds, digital lending, and subscriptions from those soundboxes and merchant devices you see at shops.

5. Strong Long-Term Growth

If you look at the bigger picture, PhonePe’s operational revenue has exploded from just ₹184 crore to ₹5,064 crore in a five-year span. That works out to a mind-boggling CAGR of around 94% a growth speed that almost no other major player in the Indian fintech space has managed to match.

SWOT Analysis of PhonePe

PhonePe has built a massive footprint in India’s digital payment space, but its journey ahead is a mix of massive growth opportunities and complex challenges.

Strengths

UPI Market Leader: PhonePe has held the crown as India’s top player for UPI transaction volumes for a long time, giving it a massive network advantage that is hard to beat.
Large User Base: With hundreds of millions of registered users on the app, the company has a ready-made audience whenever it wants to launch a new financial product.
Strong Merchant Network: Their QR code network covers everyone from local neighborhood shopkeepers to massive retail chains, giving them a rock-solid offline presence.
Diversified Ecosystem: They aren’t just a payment app anymore; they have built a sprawling ecosystem that covers insurance, digital lending, wealth management, and stock trading via Share.Market.

Weaknesses

Profitability Challenge: Even though their revenue numbers are shooting up, crossing the finish line into consistent net profitability remains a tough nut to crack.
UPI Dependency: A massive chunk of the app’s daily user traffic relies entirely on UPI transactions, making the core business heavily dependent on just this one segment.
High Operating Costs: Running this massive setup costs a bomb. Huge money flows out continuously just to upgrade backend tech, support heavy infrastructure, and kickstart entirely new market divisions.
Regulatory Exposure: Standing out as a top-tier fintech firm means surviving under constant scrutiny, which demands endless pivoting to match the frequently shifting rulebooks from RBI and NPCI.

Opportunities

Financial Services Expansion: There is still a massive, untapped market in India for digital loans, insurance products, and retail investments that PhonePe can capitalize on.
IPO Opportunity: Going public with an IPO in the near future could unlock massive amounts of fresh capital and significantly boost the company’s market profile.
Growth in the Indian Market: Digital payment adoption is finally exploding in smaller tier-3 towns and rural areas, offering a whole new wave of user acquisition.
International UPI Adoption: As more countries begin to accept Indian UPI, it opens up a golden opportunity for PhonePe to take its services onto the global stage.

Threats

Intense Competition: Rivals like Google Pay, a recovering Paytm, and emerging fintech startups are constantly fighting tooth and nail to grab a bigger slice of the market.
Regulatory Changes: Any sudden policy shifts regarding UPI transaction caps or digital payment guidelines could directly hit their core business model.
Margin Pressure: Processing core payments brings in incredibly thin profit margins, which makes relying on transactions alone a constant, uphill battle when you’re trying to build a sustainable, long-term business.
Cybersecurity Risks: With digital transactions skyrocketing across the country, the platform is always operating with a target on its back, forcing them to constantly defend against fraud, data leaks, and highly sophisticated cyberattacks.

Read Also: Reliance Jio Case Study

Conclusion

PhonePe’s journey has been quite interesting. Starting as a simple payment app, the company has now established a presence in sectors such as insurance, investing, and lending, alongside payments. This case study illustrates that having a good idea is not enough; proper execution and an understanding of market needs are equally crucial. It is for this reason that PhonePe is counted among India’s leading fintech brands today.

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Frequently Asked Questions (FAQs)

Who founded PhonePe?
It was started by Sameer Nigam, Rahul Chari, and Burzin Engineer.
When was PhonePe launched?
The platform went live in August 2016.
Is PhonePe owned by Flipkart?
Flipkart bought it back in 2016, but PhonePe now operates as an entirely separate company, Walmart is the current majority owner since 2022 separation
What is the business model of PhonePe?
They make money through digital payments, insurance, investments, lending, and merchant services.
How does PhonePe earn money?
Mainly through commissions, advertisements, merchant fees, and selling financial products.

June 22, 2026

What Is NAV in Mutual Funds?

NAV is a key factor people look at when investing in mutual funds. It is assumed that a lower NAV is better. This will offer you good returns when the mutual fund grows. But even after this, it is wrong to assume that a good NAV is always one which is lower.

This is why you must know what is a good NAV for a mutual fund. By doing so, you can actually plan your investment better. But the question is how?

So, read this guide to know what a good NAV is. But before that, let us explore the meaning of NAV.

NAV Full Form and Meaning

The NAV full form is Net Asset Value. In the mutual funds, the value of one unit of the fund is shown after all the assets and liabilities are considered. This value is calculated at the end of every trading day.

So, when you buy or sell mutual funds, the value is calculated based on the NAV.

No matter whether you invest in a lump sum or SIP, the meaning of the NAV remains the same. But the benefit that you get is when you invest via SIP. The NAV keeps on changing. So, if the NAV is low, you will be allotted more units. This will give you benefits with long-term investing.

How Is NAV Calculated?

Mutual fund houses calculate NAV using a standard formula.

NAV = (Total Assets – Total Liabilities) ÷ Total Outstanding Units

Where:

Total Assets include stocks, bonds, cash holdings, and other investments.
Total Liabilities include operating expenses and other obligations.
Outstanding Units represent the total units held by investors.

Example of NAV Calculation

Suppose a mutual fund has:

Total assets worth ₹500 crore
Liabilities worth ₹20 crore
24 crore outstanding units

To find NAV, let’s find the actual net value first.

₹500 crore – ₹20 crore = ₹480 crore

Now, let’s divide it by the units;

₹480 crore ÷ 24 crore units = ₹20

NAV = ₹20 per unit.

Does NAV Determine Mutual Fund Returns?

This is a common question that people ask. Many people think that lower NAV means better returns and profits.

But in real conditions, this is not. The returns are not based on the NAV of the mutual funds. To understand this, here is a quick example for you:

Fund	NAV	Investment Amount	Units Purchased
Fund A	₹20	₹10,000	500
Fund B	₹100	₹10,000	100

Now, from the comparison, one thing is clear: NAV has a direct impact on the units allotted.

Now, there are chances that both these grow by the same percentage, and so your returns will be the same. If Fund A has an annual return of 2% and Fund B has an annual return of 18%, the latter will provide higher returns irrespective of its NAV.

So, as an investor, you would need to focus on factors like market conditions, fund strategy, and portfolio quality.

What Is a Good NAV for a Mutual Fund?

The definition of good NAV is not linked to the amount in any way. It is all based on the mutual fund and management. Also, a good NAV will differ for every investor.

One who is looking to invest a low amount might look for a low NAV, so that more units can be allotted. A person looking for wealth creation might look for a fund with good returns even when the NAV is high. So, this is good for them.

So, some factors that might contribute to the same are:

Historical performance
Risk-adjusted returns
Fund manager experience
Portfolio diversification
Expense ratio
Investment objective
Consistency across market cycles

These factors provide a clearer picture of a fund’s potential than its NAV.

Read Also: What Is iNAV in ETFs?

Why Some Funds Have Higher NAVs

Many investors wonder why certain mutual funds have NAVs of ₹300, ₹500, or even higher.

This usually happens because the fund has been operating successfully for a long period.

As the underlying investments appreciate over time, the NAV gradually increases.

For example:

A fund launched at ₹10 NAV may grow to:

₹25 after a few years
₹80 after a decade
₹300 or more over a longer period

A higher NAV often reflects growth accumulated over time rather than an expensive investment.

Why New Mutual Funds Usually Have Lower NAVs

New Fund Offers (NFOs) are generally launched at an NAV of ₹10. This is why many people think that the new funds are cheaper compared to those already existing in the market.

But if you evaluate this, you might find that there is no benefit for you in general.

Consider these two scenarios:

Existing Fund: NAV ₹100
New Fund: NAV ₹10

If both funds invest in similar stocks and generate identical returns, the investor’s percentage gain will be the same.

A lower NAV only means you receive more units. It does not mean you earn higher returns.

How Much NAV Is Good in Mutual Fund Investments?

When investors ask, how much NAV is good in mutual fund investing, the answer is simple.

The NAV itself is not a measure of quality.

Instead of looking for a specific NAV level, evaluate whether the fund:

Meets your investment goals
Has delivered consistent performance
Maintains reasonable risk levels
Has a strong portfolio
Is managed by an experienced fund house

A fund with a ₹300 NAV may be a better investment than one with a ₹10 NAV if it has a stronger track record and better fundamentals.

Factors That Matter More Than NAV

When you are investing in mutual funds, you should focus on various factors. These are as follows:

1. Fund Performance

Start by checking the fund’s performance in the past years. Consider 1,3,5, or even 10 years history check. If there is stability in long-term, then it is better for you.

2. Risk Profile

A fund should align with your risk tolerance. This includes the following things to check for ease:

Large-cap funds generally carry lower risk.
Mid-cap funds carry moderate risk.
Small-cap funds can be more volatile.

3. Expense Ratio

The expense ratio affects your net returns. So, if you are checking a fund, look for one with a lower expense ratio, as this will ensure the maximum amount gets invested. This is beneficial in longer run.

4. Fund Manager Track Record

The experience and investment approach of the fund manager can influence performance over time.

5. Portfolio Quality

Check the sectors, stocks, and assets held by the fund. If a fund is one with proper diversification, then the risk will be better managed, and so your returns will be good.

NAV in SIP Investments

Many investors starting a Systematic Investment Plan want to understand how NAV affects their investments.

In SIPs, your fixed investment amount purchases units based on the prevailing NAV.

For example:

Month	Investment	NAV	Units Purchased
January	₹5,000	₹20	250
February	₹5,000	₹25	200
March	₹5,000	₹18	277.78

When NAV falls, you purchase more units.
When NAV rises, you purchase fewer units.

This process helps average the purchase cost over time and is known as rupee cost averaging.

Because of this feature, SIP investors generally do not need to worry about finding the “perfect” NAV.

Common Myths About Mutual Fund NAV

As an investor, there are certain myths that you should be careful of. These are:

Returns depend on portfolio performance, not the NAV level.
A higher NAV often reflects long-term growth rather than overvaluation.
A ₹10 NAV does not make an NFO superior to an established fund.
Mutual fund NAV and stock prices operate differently.

How to Choose a Mutual Fund Instead of Looking at NAV

A practical approach is to compare funds based on meaningful parameters.

Evaluation Factor	Importance
Long-term returns	High
Risk-adjusted performance	High
Expense ratio	High
Fund manager quality	High
Portfolio diversification	High
NAV value	Low

This approach helps investors focus on factors that genuinely impact wealth creation.

Conclusion

Knowing the NAV full form in a mutual fund or the NAV full form in SIP is very important. But at the same time, it is important to understand that there is no such thing as a good NAV. Also, the NAV has no direct impact on your returns.

So, as an investor, you need to analyse all the aspects before you invest. Assessing the options with the help of experts and through platforms like Pocketful can help you greatly. So, start investing right today.

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Frequently Asked Questions (FAQs)

What is the best NAV for mutual funds?
There is no best NAV for a mutual fund. A lower or higher NAV does not indicate whether a fund is better. This is why you should consider factors like past performance, manager, and portfolio for insights.
Is a higher or lower NAV better?
Neither is inherently better. NAV impacts the units that are being allotted to you, but returns are based on management, market, portfolio, and other factors.
How to know if NAV is good or bad?
NAV itself is not good or bad. To evaluate a mutual fund, look at historical returns, risk levels, consistency, fund management quality, and portfolio composition rather than the NAV number.
Which NAV will I get for mutual fund?
You receive the applicable NAV based on the time your investment transaction is processed and accepted according to mutual fund cut-off timings and regulatory guidelines.
What is a normal NAV?
There is no normal NAV range. Mutual funds can have NAVs ranging from ₹10 to several hundred rupees. The NAV value alone does not determine the quality or attractiveness of the investment.

June 22, 2026

Astrotalk Case Study: Complete Business Model and Financial Analysis

In this case study, we will give you an overview of Astrotalk along with its business and revenue model.

Company Overview

Key Metric at a Glance

Particulars	Details
Company Name	Astro Talk
Founded In	2017
Founded By	Puneet Gupta
Headoffice	Noida
Sector/Industry	Astro Tech
Services	Astrology, Horoscope, Numerology.
Available Platform	Mobile App & Website
Revenue Sources	Consultation Fee, Commission

Astro Talk Business Model

The astro talk business model focuses on connecting people who seek professional advice from astrologers.

Core Business Model: The company operates on the marketplace model, which connects customers to astrologers, tarot readers, and numerologists. It hosts various practitioners with their profiles, ratings, and specialisations. The price of the host will also be reflected, which is based on pay-per-minute. In this setup, the user pays the charges, a part of which is given to the consultant, while the other part is kept by the company. It benefits both the astrologers and the company, as astrologers get the customer base without marketing themselves.
Other Revenue Stream: In addition to the consultation, the other source of revenue of the company comes from its additional services, such as subscription, premium reports, etc. In this revenue model, a user can pay for a subscription in which they get ongoing access to certain features of the application. Along with his, it also offers a premium report related to birth chart, kundli matching, etc.
Product Selling: Astrotalk offers certain products, such as gemstones, rudraksha malas, etc., to its users. A user can directly order the product from the application and get it delivered directly to their doorstep. This converts the conversation with the astrologers into a small e-commerce transaction, providing an additional revenue source.
Puja Model: Astrotalk platform also offers various rituals and puja online. Users can also book personalised pujas by priests for specific purposes such as growth, marriage, health, etc. Through this, it provide end to end services to its customers.

Customer Acquisition Model

Customers generally avoid paying for any services online because of hesitation and trust issues. The platform built by Astrotalk revolves around overcoming such hesitation. It uses free trial minutes as a low-risk entry point as a free trick to attract customers. Their logic is simple; it first offers free conversation if the consumer feels it is meaningful, and they need to pay for it.

The Rise of Astrotalk in the Astrology Industry

Resolved Traditional Problem: The company resolved the traditional problem which a user had been facing for a long time, as to get astrological advice, people had to visit the astrologer in person, wait for appointments, and did not have an expert and experienced astrologer.
Online Accessible: Astrotalk has created a platform through which a user can directly connect with a verified astrologer through voice calls, video and text. Also, they can access the astrologers anytime from the convenience of their home.
Affordability: Earlier, the local astrologers did not have any defined fees, which was a major concern for the users. This problem was resolved by the application, as they have standard rates for every astrologer based on their experience.

Read Also: NSE Case Study

Astro Talk Marketing Strategy

The Astrotalk marketing strategy revolves around free trial, influencer and performance marketing.

Free Trial: The growth strategy of the company removes the risk for first-time users by providing free consultation. The free trial lasts for only 5 minutes, and during such period the user interacts with the chosen astrologer. This allows the user to experience the platform without paying anything. This generally contributes to a 15% increase in new user signups in 2024. And out of such free users, a roughly 5 – 10% user converts into a paid user.
Celebrity Marketing: The app has collaborated with more than 40 celebrities who promote their services. Recently, this year, the company has launched a digital campaign that was directed by filmmaker Nitesh Tiwari. This campaign was focused on using slice-of-life stories where a protagonist works through love or career. This helps the company in expanding their reach.
Performance Marketing: A major share of the company’s revenue goes directly into the paid campaigns and has acquired approx 2,20,000 customers monthly through paid campaigns. As per 2025 data released by the company, it has spent around 40% of its operating spending on digital ads on Meta, Google, etc.

How Astro Talk Works

The astrotalk works in the following manner:

Registration of User: The first step for the user is to download the application or visit the website and create an account.
Selection of Astrologer: After login into the application, you need to select the astrologer of your choice based on their ranking, experience, language, etc.
Free Consultation: The initial 5 minutes on the application is free of cost. You can connect with the chosen astrologer for the first 5 minutes, also for free.
Payment: Once the 5 minutes are over, the user is required to pay a certain amount based on the duration of the consultation and the rate of the astrologer.
Report Download: If you have paid for any report, you can download the same by paying the charges.

Financial Metrics of Astro Talk

Particulars	FY24(₹ Cr.)	FY25(₹ Cr.)	YoY Change
Total Revenue / Income	666	1214.5	82.40%
Revenue from Operations	643.5	1176.5	+82.8%
Other Income	12.5	38	+204.0%
Total Expenses	542.5	1129.2	+108.1%
Employee Benefit Expenses	30	143	+376.7%
Marketing Expenses	156.8	331.2	+111.2%
Net Profit	85.5	33	-61.4%

The company has reported an outstanding revenue growth for FY 2025 as their revenue increased from 666 crore INR to 1214 crore INR, indicating a 82.4% growth on a YoY basis. Their revenue from operations also increased to 1176 crore INR. Apart from it their non-operating income has also more than tripled to 38 crore INR, indicating its non-operating income generation capacity.

Whereas, on the other side, their expenses also increased to INR 1129 crore INR, indicating a significant rise in employee benefit expenses. The company’s marketing expenses have also increased significantly this year and stood at around 331 crore INR. Profitability of the company has suffered during this year, but its investment in marketing and talent acquisition will benefit the company in the long-run.

Market Data of Astro Talk

Particulars	Metric
Total Subscriber Base	4.3+ Crore
Active Astrologer on App	20000+
Domestic Revenue Share	80%
International Revenue Share	20%
Repeated Users	25-30%
Employees	250+
Institutional Investors	Left Lane Capital, Elev8 Venture Partners, and Kunal Shah.

SWOT Analysis of Astrotalk

Strength

Strong Brand Image: Since the establishment of Astrotalk, it has established itself as a brand in the industry of astrology. They have established the brand through various digital marketing campaigns, influencer marketing, referrals, etc. Astrotalk is not only a known name in India, but it is also famous in different countries across the world.
Large Network of Astrologers: The key strength of Astrotalk is that they have a strong network of astrologers. They have experts in every field, including Vedic astrology, palmistry, vastu consultation, numerology, etc., in different languages. This allows a user to choose from different options.
Asset Light Business: The offers their services only through their mobile and website; they do not need to have any physical consultation centre. Through this, they can easily scale their business without affecting cost.

Weakness

Quality Control: To expand their reach, Astrotalk continues to onboard astrologers from different areas of the country. Maintaining the same quality and consistency becomes difficult for them.
Expenses on Digital Marketing: The company needs to spend a huge amount on promoting its application through digital marketing. Their customer acquisition depends on the various digital marketing campaigns, such as Google Ads, social media campaigns, etc.
Reputation: If there is any prediction made by the astrologers on the app that is inaccurate, it can lead to dissatisfaction among consumers, leading to a significant loss to the company.

Opportunities

International Expansion: The company has significant growth opportunities not only in India but also in other countries of the world. Various people living abroad seek cultural and spiritual guidance through astrology.
AI Integration: With the rise in the usage of AI, the opportunity for the company to grow has also increased. Through AI, the company can offer personalised horoscope recommendations, customer behaviour analysis, etc.
Regional Language: India is a country where the language changes every 100 km. This offers an opportunity for the company to introduce regional languages into their platform so that it can penetrate Tier-2 and Tier-3 cities.

Threat

Competition: With the introduction of Astrotalk, the company has attracted competition in this sector. Various startups and other established players are entering the segment and offering similar or better services at a lower cost.
Negative Perception: In India, astrology faces immense criticism from different communities, such as scientists, etc. Any negative publicity and debate can significantly impact the company’s performance.
Dependence on IT: Astrotalk heavily rely on technology such as mobile applications, cloud infrastructure, the internet, payment gateways, etc. Any technical failure can impact the company’s revenue and profitability.

Read Also: Reliance Jio Case Study

Conclusion

Astrotalk started its journey from a simple idea to provide astrology services to the public through its platform. They had created a user-friendly platform with a scalable business model that connects various users with astrologers. The company is expanding its reach through digital marketing, ad campaigns, etc. However, it is facing certain challenges, such as intense competition, maintaining the quality of service, etc. If the company continues to maintain the standard of service, it will become a dominant player in the industry.

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Frequently Asked Questions (FAQs)

Who founded Astrotalk?
Astrotalk was founded by an engineer named Puneet Gupta in the year 2017.
What are the revenue sources of Astrotalk?
The key source of astrotalk revenue is the subscription charged from customers for online consultation, commission from astrologers, reports, and the sale of other spiritual products products, etc.
Is Astrotalk a profitable company?
Yes, Astrotalk is a profitable company; it has posted a net profit of around 33 crore for FY 2025. Along with the profitability, the company’s revenue is also increasing.
In how many countries does Astrotalk operate?
Astrotalk operates in more than 60+ countries, including the USA, UK, Canada, the Middle East, etc.
What are the services offered by Astrotalk?
The key services that are offered by Astrotalk include astrology, tarot reading, numerology, palmistry, and vastu, along with this it Astrotalk also offers online puja and rituals. They also send products such as gemstones, rudraksha, etc.

June 21, 2026

How to Open a Demat Account for Partnership Firms & Required Documents?

A Demat account allows investors to hold shares and other securities in electronic form. There is a common misconception that only individual investors can open demat accounts, but partnership firms can also enjoy the benefits of opening a demat account for better investment and management of their business funds.

Many partnership firms open Demat accounts to invest their surplus money in stocks, mutual funds, bonds, ETFs and other financial products. That makes buying, selling and holding investments far easier, faster and safer.

However, the process of opening a Demat account for a partnership firm is slightly different from an individual account.

In this blog, we will learn about opening a Demat account for a partnership firm, documents required, step-by-step process, and a few important things to remember before you get started.

What is a Demat Account for a Partnership Firm?

A Demat account for a partnership firm is essentially a digital locker for all its investments. Gone are the days of storing physical share certificates, everything from shares to bonds is now held electronically, which makes managing them a whole lot simpler and more secure.

The account is registered under the firm’s name, and the partners who are authorised to do so handle it on the firm’s behalf. Using this account, the firm can put its money into shares, mutual funds, bonds, ETFs, and various other market-linked options.

Partnership firms usually open a Demat account when they want to efficiently use their surplus funds, whether that is building a long-term investment portfolio or actively trading in the stock market.

Why Partnerships Firms Open Demat Accounts?

Idle Money is Wasted Money: Every firm hits a stage where funds are just idle in a current account, doing absolutely nothing. Smart partners do not let that go on for long. They move that surplus into shares, mutual funds, bonds, or ETFs, because even modest returns beat zero returns, every single time.
No Worries About Physical Handling of Papers: There was a time when firms stored stacks of share certificates in files and almirahs. Now, a demat account can easily hold securities, and suddenly there is no scrambling for paperwork when you need it most.
Faster & Safer Transactions: Demat accounts make transactions faster, cleaner, and far more secure than the old way of doing transactions. And the fear of documents getting lost, damaged, or stolen also disappears.
Better Tracking of Investments: A Demat account gives firms complete visibility, portfolio value, past transactions, pending dividends, current holdings, all in one place, available anytime. For partners who want to stay on top of their investments without hiring a dedicated person to track it all, this is very useful.

Documents Required

The documents needed are listed below;

Partnership Deed – A notarised copy that clearly mentions all partners’ names and the firm’s structure.
PAN Card – Both, the firm’s PAN and the PAN cards of all authorised partners.
Address Proof – A utility bill, lease agreement, or bank statement, but make sure it is not older than three months.
Bank Details – A cancelled cheque or bank statement in the firm’s name, needed to link the account for transactions.
Registration Certificate – If your firm is registered under the Indian Partnership Act, 1932, this needs to be submitted.
Resolution Letter – Signed by all partners, clearly naming who’s authorised to run the account.
KYC Documents of Authorised Partners – Aadhaar, Passport, or Voter ID along with address proof for each authorised partner.

Furthermore, some DPs may also ask for:

Last six months’ bank statement of the firm
Latest audited Profit & Loss statement
Most recent ITR acknowledgement
Net Worth Certificate from a CA (with UDIN number)
FATCA declaration
Balance sheets for the last two financial years, CA-attested

Step-by-Step Process to Open a Demat Account

Opening a Demat account for a partnership firm is not as complicated as it sounds, but it does require some groundwork. Let us explore how the process works.

Step 1: Pick the Right Depository Participant (DP)

The first step is selecting a suitable Depository Participant (DP). A DP can be a bank or brokerage platform registered with either NSDL or CDSL.

Before making a decision, compare:

Account opening charges
Annual Maintenance Charges (AMC)
Brokerage and transaction fees
Trading platform features and usability
Customer support services

Choosing the right DP can help ensure a smoother trading and investing experience.

Step 2: Fill Out the Account Opening Form

Once you have chosen your DP, get hold of the account opening form, most DPs let you download it online, though some still prefer the physical one. The form will ask for details about the firm itself as well as all the partners involved.

Step 3: Submit Your Documents and Complete KYC

The partnership firm and all partners must complete the Know Your Customer (KYC) process.

Most DPs allow:

Digital document uploads
e-KYC verification
Video-based verification

Step 4: Submit the Authority Letter or Resolution

The firm needs to formally declare, in writing, which partners are authorised to operate the account, sign instructions, and carry out transactions. Without a clear resolution letter or authority letter signed by all partners, the DP will not proceed.

Step 5: In-Person Verification (IPV)

At least the authorised partners need to go through IPV. Depending on your DP, this can be done face-to-face at their office or over a video call. It is a regulatory requirement, so this step cannot be skipped.

Step 6: Wait for Account Activation

Once everything is completed, the DP opens the account in the firm’s name and issues a BO ID (Beneficiary Owner Identification number). That is your Demat account number, and your firm is officially ready to go.

Things to Keep in Mind

The account is not opened in the firm’s name alone. As per NSDL guidelines, the Demat account is technically opened in the names of the authorised partners but the securities held in it belong to the firm.

Unlike individual Demat accounts that can be activated within a day or two, partnership firm accounts involve heavier documentation and verification.

The firm must be registered under the Indian Partnership Act, 1932, and must have a valid PAN in the firm’s name. Without these two things, the account simply cannot be opened.

Benefits of Opening a Demat Account for a Partnership Firm

One Login is Everything You Need: Before Demat accounts became the norm, firms juggled investments across multiple places, different brokers, different formats, different statements. It was frustrating. A Demat account brings everything, shares, bonds, mutual fund units, ETFs, government securities, onto one platform.
Aligns with Professional Standards: This is something firms rarely think about, but it matters more than it seems. A partnership firm operating a SEBI-regulated Demat account linked to its PAN, with proper authorization letters and KYC in place, simply comes across differently. Banks take it more seriously. Auditors find it easier to work with.
Opportunity to Expand Investment Portfolio: Without a Demat account, a partnership firm is locked out of some of the most interesting investment opportunities in the market. IPOs, Non-Convertible Debentures, Government Securities, new ETF launches, none of these are accessible without a demat account. Opening the account opens those doors, and that kind of diversification can strengthen a firm’s long-term financial position.

Conclusion

Opening a Demat account for a partnership firm is not something that should be put off indefinitely, and yet, a surprising number of firms do that. They either assume it is too complicated, too time-consuming, or simply not relevant to their business.

But, a demat account solves problems that firms do not even realise they have, scattered investments, idle surplus funds, slow transactions, messy paperwork, and the constant risk of losing physical certificates. Many modern platforms like Pocketful also make the process easier with seamless online account opening and digital KYC verification.

Beyond the operational benefits, it brings credibility, with banks, auditors, and business partners.

The process does require some patience. But once it is done, the firm is better positioned, financially and operationally.

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Frequently Asked Questions (FAQs)

How long does the whole process take?
Honestly, it depends on how prepared you are with your documents. If everything is in order, most DPs can activate the account within a week to ten days.
Is a registered partnership firm required, or can unregistered firms also apply?
Unregistered firms can also apply. However, registered firms generally face fewer complications during the verification process.
Which DP should a partnership firm choose, NSDL or CDSL?
Both are equally reliable and regulated by SEBI. The choice really comes down to the broker or bank you’re comfortable working with.
Can the firm invest in mutual funds through a Demat account?
Yes, absolutely. Mutual fund units can be held in Demat form, alongside shares, bonds, ETFs, and government securities.
What happens to the Demat account if one partner exits the firm?
The firm needs to inform the DP, update the partnership deed, and submit revised authorisation documents. The account does not automatically close, but the changes must be formally reflected, otherwise it creates compliance issues.

June 21, 2026

What Is Tax On IPO Profits In India

You applied for an IPO, you got the allotment, and on listing day, the stock jumped 40%. You sold. Money’s in the account. Now what?

Most retail investors in India celebrate the gains but completely ignore what comes next, filing taxes on those profits. Either they are misreporting it altogether, or they end up paying more than they need to because they did not understand which tax rate applies.

In today’s blog, we will learn more about how IPO taxation works in India.

Understanding IPO Gains

Whenever you sell shares that you got through an IPO allotment, the gain is treated as a capital gain.

There are two types of capital gains, depending entirely on how long you held those shares before selling.

1. Short-term Capital Gain

2. Long-term Capital Gain

Generally, most of the IPO investors sell on the listing day itself or within the first few weeks. That means almost all IPO profits fall under short-term capital gains.

1. Short-term Capital Gain (STCG):

If you sold within 12 months of allotment, it is treated as a Short-Term Capital Gain (STCG). For the taxation of STCG on listed stocks of equity shares, 20% will be levied if STT has been paid. One needs to take care of their transaction records for tax filing purposes.

Example:

Say you got 100 shares allotted at ₹400 each.

On listing day, the stock touched ₹580, and you sold.

Your gain is ₹180 per share, which is ₹18,000. When taxed at 20%, it becomes ₹3,600.

Also, you need to pay a 4% health and education cess on that, which adds ₹144. So your total tax comes to ₹3,744 on that trade.

2. Long-term Capital Gain (LTCG)

If you hold the shares for more than 12 months before selling, it is treated as Long-Term Capital Gain (LTCG). Long-term capital gain tax on listed equity shares is charged at the rate of 12.5%, where the gain exceeds ₹1,25,000 in a financial year. Any capital gain lower than this amount will be tax-free.

Example:

If you held an IPO stock for over a year and made ₹90,000 on it, you pay zero LTCG tax.

But, if you made ₹2,00,000, your taxable gain is ₹75,000.

How?

₹2 Lakh – ₹1.25 Lakh = ₹75,000

Tax = ₹75,000 * 12.5% = ₹9,375.

Do not forget to include cess.

How to Report IPO Gains in Your ITR

A lot of salaried people in India still file ITR-1, which is the simplest form. But, ITR-1 does not allow you to report capital gains.

If you have made any profit from IPO sales, you need to file ITR-2 (if you have no business income) or ITR-3 (if you also have business income).

Capital gains from listed equity shares go under Schedule CG in the ITR. Your broker’s tax P&L statement will have all the data you need.

The purchase price (allotment price in case of IPOs), sale price, date of purchase, date of sale, and the calculated gain.

Download this statement from whichever broker you use. Most brokers also give you a ready-made capital gains summary that directly maps to the ITR schedule. Make use of it.

Quick Summary Table

Holding Period	Tax Category	Tax Rate (Post July 2024)
Less than 12 months	STCG	20% flat
More than 12 months	LTCG	12.5% (exempt up to ₹1.25 lakh)

Did You Know?

Until July 2024, STCG on listed equity was taxed at 15%. But after the Union Budget 2024, this was revised to 20%.

It was changed from 23rd July 2024. There is no basic exemption limit that applies here.

On the other hand, LTCG was also revised from 10% post the July 2024 Budget with an exemption limit of ₹1 Lakh.

What About Loss on IPOs?

Not every IPO lists above the issue price.

Paytm’s listing in November 2021 is a classic example. It was allotted at ₹2,150, listed around ₹1,955, and kept falling.

When an IPO is sold at a loss, that will be considered as a short-term capital loss.

Any short-term capital losses can be set off against both short-term and long-term capital gains in the same year.

Anything you cannot set off this year can be carried forward for up to 8 years, but only against capital gains (not against salary or other income).

IPO Taxation for NRI Investors

If you are an NRI and you have been applying for Indian IPOs, the tax rules are a bit different for you compared to resident Indians, and the difference mostly shows up in how tax is collected, not in the final rates.

Let us start with the basics

1. Apply through NRE & NRO Accounts

NRIs can apply for Indian IPOs through their NRE or NRO demat accounts.

2. Capital Gains:

The capital gains tax rates remain the same, i.e., 20% for short-term, 12.5% for long-term. But the key difference is TDS.

3. Tax Deducted at Source (TDS)

For NRIs, the buyer or the broker is supposed to deduct TDS at the time of the transaction itself. On short-term capital gains from listed equity, TDS applies at 20%. On long-term gains, it’s 12.5% after the ₹1.25 lakh exemption threshold.

4. DTAA Agreements with Several Countries

For NRIs, India has Double Tax Avoidance Agreements (DTAA) with numerous countries, including the United States, the United Kingdom, the UAE, Singapore, Canada, and many others.

If you are a tax resident in one of these countries, you will be eligible to claim the tax paid in India against the tax liability in your home country. It helps to avoid double taxation on the same income.

For example, if you are living in the US and you paid 20% STCG tax in India on your IPO profits, you can claim that as a foreign tax credit when filing your US return.

Should You Sell on Listing Day or Hold?

Almost every IPO investor faces this question the moment the allotment comes through. Do you book profits on listing day, or do you hold and see where the stock goes?

The honest part of this conversation is that holding for tax efficiency only makes sense when you are confident that the stock will not fall sharply over the next year.

India’s IPO market has seen plenty of cases where a stock listed at a premium and then steadily lost value. Sula Vineyards, LIC, Paytm, these are examples where selling on or close to listing day and paying the 20% tax would have been the better financial decision overall.

So the right question is not just about the tax rate, it is about your belief in business, and its fundamentals to hold it for a year”

If the answer is yes, the case for holding past the 12-month mark is genuinely strong.

If the answer is uncertain, it is just a hot IPO, and the valuation already looks stretched, or you do not plan to track the stock actively, taking profits on listing day and paying the 20% tax is perfectly logical.

Conclusion

Investing in IPOs and earning profits from them feels great, but they come with a tax tag. The IPO taxation is not as complicated as it sounds. If you sell on listing day, you will pay STCG. If you hold for a year or more, you pay LTCG with an exemption limit.

The government is watching your trades. Every transaction on NSE and BSE gets reported. So the smartest thing you can do as an IPO investor is stay compliant, report accurately, and not leave money on the table by ignoring eligible deductions. Invest in IPOs with Pocketful and enjoy zero brokerage on delivery trades, seamless applications, dedicated customer support, and detailed company insights on one platform.

S.NO.	Check Out These Interesting Posts You Might Enjoy!
1	Tax on Commodity Trading in India
2	What is Capital Gains Tax in India?
3	Types Of Taxes In India: Direct Tax And Indirect Tax
4	What is Future Trading and How Does It Work?
5	Income Tax on F&O Trading in India
6	Why Do We Pay Taxes to the Government?

Frequently Asked Questions (FAQs)

Which ITR form should I file if I have sold IPO shares?
You need to file ITR-2 if you are a salaried person with no business income.
What if my IPO listed at a loss and I sold below the allotment price?
That will be the case of a short-term capital loss. You can set it off against other capital gains in the same year, and carry it forward for up to 8 years if unused.
Do NRIs pay a different tax rate on IPO profits?
The tax rates are broadly the same. The main difference is that TDS gets deducted at source for NRIs.
Is STT the same as capital gains tax?
No, they are completely separate. STT is automatically deducted by the exchange on every sell transaction. It does not reduce or replace your capital gains tax liability in any way.
What happens if I do not report IPO gains in my ITR?
The Income Tax Department receives transaction data directly from stock exchanges. If your gains go unreported, you are at risk of receiving a tax notice along with interest and a penalty on the unpaid amount.

June 20, 2026

NSE Case Study: History, IPO, Business Model & Co-Location Scam

If you have ever placed a trade on Pocketful, or any other broker and seen the order execute in milliseconds, you have already experienced the NSE at work. If you are curious to have an idea about the stock markets, it is important to know the journey of NSE from being a paper-based and chaotic trading platform in the early 1990s to being the world’s largest derivatives exchange by the number of contracts.

Let’s learn what NSE created, how it has developed, what it failed to do and its importance for retail investors now.

What is NSE ?

The National Stock Exchange (NSE) is the largest stock exchange in India and one of the world’s largest derivatives exchanges. Established in 1992, it introduced electronic trading, making stock market participation more transparent and accessible across India. NSE facilitates Trading in Equities, Derivatives, Currency, Debt Instruments & ETFs. It is owned by a wide range of institutional investors such as LIC, SBI, SBI Capital Markets, Stock Holding Corporation of India, insurance companies and other financial institutions ensuring broad based ownership and governance.

Why Was NSE Launched?

1. An Outdated System

The Bombay Stock Exchange (BSE) had been the leading stock exchange in India earlier. It had been in existence since 1875, which may seem a long time given that one knows what trading was like.

Brokers crying out bids and offers in a trading ring. It was opaque, hard to manipulate and was geographically restricted to Mumbai only.

2. The 1992 Scam – A Turning Point

The 1992 Harshad Mehta scam was a wake-up call. He had exploited weak settlement systems and poor market oversight to pull off one of India’s biggest financial frauds.

3. The Involvement of the Government

The entire episode exposed how broken the market’s system was. The government responded by setting up a committee under M.J. Pherwani, who recommended building an entirely new exchange, one that was electronic, transparent, and accessible from anywhere in the country.

4. The Birth of NSE

NSE was then incorporated in 1992. Ravi Narain, Raghavan Puthran, K. Kumar, Chitra Ramkrishna, and Ashishkumar Chauhan, along with IDBI’s R.H. Patil and S.S. Nadkarni, drew up the blueprint. NSE was recognised by SEBI as a stock exchange in 1993 and began operations on 30 June 1994 with the Wholesale Debt Market (WDM) segment. Equity trading started on 3 November 1994.

Within one year of launching equity trading, NSE’s daily turnover had already crossed BSE’s.

What Made NSE Different?

The single biggest thing NSE did differently was its technology-first approach. In 1995, it launched a fully automated electronic trading system called NEAT (National Exchange for Automated Trading).

Manual trading was completely phased out by 1999. NSE was the first Indian exchange to go fully electronic.

Electronic trading meant a retail investor sitting in a small town could access the same prices as a big institution in Mumbai. The information advantage that insiders had for decades was suddenly gone.

The reach expanded further through a network of VSATs (satellite-based terminals) and leased lines. Brokers across the country could connect to NSE’s central servers without needing to be physically present in Mumbai.

This decentralisation of trading access was genuinely transformative for Indian capital markets.

The Product Line of NSE: How does NSE build the Market?

1. NIFTY 50

This index began on 22 April 1996 with a base value of 1,000, set to 3 November 1995. Today, the Nifty 50 is the benchmark followed by all investors. People who say the market went up today almost invariably mean the Nifty went up.

2. Equity Derivatives

Derivatives trading started on 12 June 2000. Firstly, it has introduced Index futures, then options, then single-stock F&O. This was important as derivatives allowed traders to hedge their portfolios and make speculations on the direction of the market without purchasing the underlying stocks.

3. Currency Derivatives

These were launched in August 2008, which allowed market participants to hedge foreign exchange exposure, useful for importers, exporters, and increasingly for retail traders who wanted exposure to currency movements.

4. NSE Emerge Platform

NSE launched NSE EMERGE in 2012, a platform for small and medium enterprises to list and raise capital. Many of the multi-bagger stories from smaller companies in recent years trace back to this platform.

5. NSE IX

NSE also set up NSE International Exchange (NSE IX) at GIFT City in June 2017, which is India’s second international exchange and handles trading in global instruments for foreign and Indian participants.

The Co-Location Scam & Why NSE IPO was Delayed?

No case study of NSE is complete without the co-location scam. This is the part you will not see much in press releases, but it is a must-know story.

The case started in January 2015. Singapore-based whistleblower, writing under the name of “Ken Fong”, had sent a complaint to SEBI alleging irregularities in the co-location facility of NSE.

Now, what is Co-location?

In case you are not aware, co-location is when a broker pays NSE to physically place their servers inside NSE’s data centre. The idea is to reduce the distance data has to travel, allowing algo traders to get to price feeds faster.

The whistleblower said some brokers were getting preferential treatment and were connecting first to NSE’s secondary server, giving them market data a fraction of a second before others. A few milliseconds is a fortune in high-frequency trading. Some reports estimated these companies were earning ₹50-100 crore cumulatively every day.

The ensuing investigation revealed far more than just unfair server access. SEBI found that dark fibre, unauthorized fibre-optic cables, had been laid on NSE premises to give select brokers even lower latency.

OPG Securities, run by Sanjay Gupta, was a major beneficiary. His Delhi residence was raided by the Income Tax department, which is said to have seized ₹11 crore in cash.

The SEBI started an investigation into NSE’s then-CEO Chitra Ramkrishna and found evidence that she was sharing confidential business information, including NSE’s financial performance, regulatory strategies and HR decisions, with an unknown “Himalayan Yogi” through email.

The yogi, it turned out, was none other than Anand Subramanian, whom Ramkrishna had appointed as NSE’s Group Operating Officer, a job for which he had no obvious qualifications. His salary at NSE rose from around ₹15 lakh a year to ₹4.21 crore.

In December 2016, Ramkrishna resigned. In 2019, SEBI had fined NSE ₹624.89 crore and barred it from accessing the market for funds for six months.

The CBI stepped in, and Sanjay Gupta was arrested in June 2022, and Ramkrishna earlier this year. The legal process has been going on for years. The CBI has filed a final chargesheet in the case naming 43 accused, including broking firms, which allegedly benefited from the scheme. SEBI in September 2024 dropped several charges against the institution NSE, allowing the exchange to proceed with its long-delayed IPO process.

Table of Differences: NSE vs. BSE

S. No	Parameter	NSE	BSE
1	Full Name	National Stock Exchange of India	Bombay Stock Exchange
2	Founded	1992	1875
3	Headquarters	Mumbai	Mumbai (Dalal Street)
4	Benchmark Index	Nifty 50	Sensex 30
5	Listed Companies	2,600+	5,600+
6	Global Ranking	5th largest by market cap	6th largest by market cap
7	Listing Status	Unlisted (IPO filed June 2026)	Listed on NSE since 2017
8	Cash Market Share	93%	7%
9	Settlement Cycle	T+1	T+1
10	Trading System	NEAT (National Exchange for Automated Trading)	BOLT (BSE Online Trading)
11	Clearing Corporation	NSE Clearing Limited (NSCCL)	BSE Clearing Limited (formerly ICCL)
12	SME Platform	NSE EMERGE (587 companies)	BSE SME
13	Key F&O Products	Nifty 50, Bank Nifty, Midcap Nifty	Sensex, Bankex
14	Regulatory Status	SEBI regulated	SEBI regulated

Business Model of NSE

One of India’s biggest financial market infrastructures is the National Stock Exchange (NSE). This is an exchange that works using a business model based on transaction volume, technology, and market ecosystem.

Transaction charges: This is a revenue stream where NSE gets transaction fees on all transactions made in the equity, derivative, currency, and debt market segments. Transactions in larger volume result in more earnings.
Listing services: These are listings charged by companies to be listed on the exchange for capital raising and getting their securities traded. This results in constant revenue flow for NSE.
Market data and index licensing: Another way NSE makes money is from offering its market data, analytics, and licensing of its indices such as Nifty 50.
Technology and co-location services: This involves NSE providing co-location and trading infrastructures to the brokerages and other institutions.

NSE IPO: Where Things Stand Right Now

After nearly ten years of waiting, the NSE IPO is finally looking real. The most immediate update is the DRHP filing. NSE has filed its Draft Red Herring Prospectus with SEBI,

What finally broke the Pause on the IPO?

The short answer is SEBI’s NOC. SEBI issued a No Objection Certificate to NSE, giving the exchange a green light to proceed with the listing. This was the single clearance that had been missing for years on January 30, 2026.
NSE’s board met on February 6 and formally approved the IPO plan. Then, on February 16, the Delhi High Court dismissed a petition that had tried to challenge the NOC itself.
On June 17, 2026, the NSE finally gave wings to its long-held idea of listing itself by submitting the Draft Red Herring Prospectus (DRHP) to SEBI.

IPO Type

It is a pure OFS, Offer for Sale. That means NSE itself is not raising any fresh money. Shareholders who already have the holdings are selling a portion of their stake. The total offer for sale is expected to be around ₹23,000 crore.
NSE is not allowed to list itself in its own market for reasons of conflict of interest. In case the IPO takes place, the exchange is likely to list itself at the BSE, as the latter is listed at the NSE.

What NSE Built Beyond Trading?

One part of NSE that often gets ignored is its financial education infrastructure.

NSE Academy runs certification programmes in financial markets through its NCFM (NSE Certified in Financial Markets) system, with certifications available in different modules. These cover everything from derivatives to mutual funds to technical analysis, at both beginner and advanced levels.

NSE also developed a mock trading simulation called NSE Learn to Trade (NLT), used by business schools, including partnerships with various institutions. The idea was to give students a realistic trading environment before they risk real money

Market data of NSE

Market Metric	Data Point (FY2026)
Unique Registered Investors	12.91 Crore
Market Capitalisation of Listed Companies	₹411.25 lakh Crore
Passive Fund AUM Linked to Nifty Indices	₹8.14 lakh Crore
Listed Entities	2,978
Global Share in Equity Derivatives Trading	51.18%
Mainboard IPOs Listed	108

Financial Statements of NSE

Balance Sheet

Particulars	Mar 2026	Mar 2025	Mar 2024
Total Non-Current Assets	18,822.60	22,243.90	22,052.20
Total Current Assets	68,825.70	46,984.30	42,559.30
Cash & Cash Equivalents	32,261.20	17,297.90	23,176.40
Total Equity	32,113.50	30,353.30	23,973.90
Total Non-Current Liabilities	901.3	845.6	551.8
Total Current Liabilities	35,566.90	20,757.60	25,953.40

Profit & Loss

Particulars	FY 2026	FY 2025	FY 2024
Revenue from Operations	16,601.30	17,140.70	14,780.00
Other Income	2,112.10	2,036.20	1,572.10
Total Income	18,713.40	19,176.80	16,352.00
Total Expenses	6,000.00	4,806.30	3,608.90
Profit Before Tax (PBT)	13,896.60	16,474.80	11,184.20
PAT (Total)	10,302.10	12,187.60	8,305.70

SWOT Analysis of NSE

Strengths

A Market Share That’s Almost Impossible to Compete With Let us start with the obvious, NSE is not just big, it is dominant. It controls roughly 93% of cash equity trading in India and close to 100% of the equity futures market. When Indians trade, they trade on the NSE. That kind of market share is almost impossible to create.
The World’s Biggest Derivatives Exchange NSE has been the world’s largest derivatives exchange by number of contracts traded for five consecutive years now. Its share in global equity derivatives jumped from 15.3% in 2014 to 82.3% in the first nine months of 2024. No other exchange comes even close to NSE.
One Platform, Every Instrument You Can Think Of The product range is wide too. Equities, F&O, currency derivatives, debt instruments, ETFs, REITs, InvITs, SME listings, Social Stock Exchange, and, as of May 2026, Electronic Gold Receipts. NSE keeps adding instruments, which means more reasons for more participants to stay on the platform.

Weaknesses

The Co-Location Shadow That Has not Fully Lifted The co-location scam is the one that does not fully go away. Even though SEBI cleared the path for the IPO, the governance failures from that era leave a mark on institutional reputation. Investors considering the IPO will have to weigh this history.
SEBI Proceedings Are Still Running in the Background Regulatory proceedings are still running in the background. NSE disclosed in its 2026 DRHP that it has received show-cause notices, warning letters, and advisory communications from SEBI on governance, technology, and compliance matters. Co-location and dark fibre cases are not fully closed. And the settlement costs are also very high.
Cybersecurity is another soft spot. NSE’s website suffered a high-volume attack in May 2025. A few years earlier, a three-hour technical glitch forced NSE to halt trading entirely. For infrastructure that handles crores of trades daily, even a short outage is a significant event.

Opportunities

The Next Crore Investors Are Coming From Smaller Towns India’s retail investor story is far from over. The next wave of investors from smaller towns, people who are just starting to open demat accounts, will largely flow through NSE’s infrastructure. That is a long path of organic growth without NSE having to do much.
GIFT City is a great opportunity. In March 2026, NSE International Exchange launched a platform giving retail investors and NRIs access to nearly 30 global markets. Budget 2026 doubled the tax holiday for IFSC units from 10 to 20 years, which makes GIFT City a significantly more attractive destination for global fund managers.
Going Public Could Actually Fix the Reputation Problem The IPO itself is an opportunity in a different sense. Once listed, NSE gains better governance accountability and public market visibility that could help rebuild some of the reputational damage
Beyond Equities New asset classes are opening up, too. Fixed income benchmarking, Electronic Gold Receipts, Social Stock Exchange listings. NSE is steadily broadening what it offers beyond equities and F&O. Each new segment adds a revenue line.

Threats

SEBI Can Move Against NSE SEBI remains NSE’s most significant external risk. The regulator has historically not hesitated to penalise NSE, and the relationship between the two has had its rough patches. Any fresh governance lapse, technology failure, or compliance gap could invite scrutiny.
BSE is also working in Derivatives BSE has quietly been gaining ground in derivatives. Sensex and Bankex options contracts have grown in popularity. NSE’s near-monopoly in derivatives is not as certain as it was three or four years ago.
A Serious Cyber Breach Could Shake Investor Trust Permanently Cybersecurity threats are escalating across the financial sector broadly, not just at NSE. In May 2025, both NSE and BSE issued urgent cybersecurity directives to all market participants. A serious breach would be devastating for an exchange whose entire value proposition rests on trust and system integrity.
Global Situations Are Outside NSE’s Control Finally, global macro risks are real. Prolonged FPI outflows, geopolitical tensions, a sharp economic slowdown can compress trading volumes across all segments. Exchange revenues are inherently volume-dependent, and NSE cannot do much when external conditions turn unfavourable.

Conclusion

To conclude, the exchange turned 30 years old in 2024. It transformed into one of the most important financial institutions in Asia in three decades. The controversies that happened in the past show that no institution is immune to governance failures.

But the market NSE built was liquid, electronic, widely accessible, with deep F&O markets and growing equity participation. It currently serves millions of Indian investors.

S.NO.	Check Out These Interesting Posts You Might Enjoy!
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3	Hindustan Unilever Case Study: Business Model, Financials, and SWOT Analysis
4	Infosys Case Study: Business Model and SWOT Analysis
5	Eicher Motors Case Study: Business Model & SWOT Analysis

Frequently Asked Questions (FAQs)

What is the Nifty 50?
It is an index that tracks India’s top 50 companies.
What was the co-location scam?
Certain brokers were allegedly getting faster access to NSE’s price data by placing their servers inside the exchange’s data centre and using unauthorised cables.
Who was Chitra Ramkrishna?
She was NSE’s CEO who resigned in 2016. SEBI later found she had been sharing confidential exchange data.
What is the current status of the National Stock Exchange’s IPO?
NSE has filed its DRHP with SEBI on 17 June 2026
Is NSE bigger than BSE?
NSE is larger in terms of trading volumes and is a leader in equity and derivatives markets in India. BSE has more listed companies.
What is the difference between NSE and BSE?
NSE is known for Nifty 50 and higher liquidity, while BSE is India’s oldest exchange and tracks the Sensex.
Why is NSE IPO delayed?
NSE’s IPO was delayed due to regulatory concerns over the co-location case and governance-related investigations.
How does NSE earn money?
NSE makes money from transaction fees, listing charges, market data subscriptions, index licensing and technology services.
When is NSE IPO expected?
NSE had filed its DRHP in June 2026. The IPO is expected after getting final SEBI nod.

June 20, 2026

How to Change Name in Demat Account

Life brings many unexpected personal changes and milestones. People often get married or notice spelling mistakes on their important documents. Sometimes individuals simply choose a brand new identity for personal reasons. When these details shift, official financial records must follow suit instantly. Financial institutions remain incredibly strict about matching personal details across all platforms. A mismatch between a government identity card and investment records can quickly lead to frozen funds. Keeping everything updated ensures complete peace of mind for all investors. The Indian stock market requires exact matches to keep investments completely safe from any fraud. This might sound like a tough task initially. However, the modification process remains quite straightforward when the right steps are followed.

Why Name Change is Required

Many investors wonder about the exact procedure and often search for how to Change Name in Demat Account. Here are the main reasons why updating these details is required:

Smooth Market Transactions: If the identity on the permanent account number (PAN) card does not match the trading profile, buying and selling shares becomes very difficult. Brokers might temporarily block the trading profile to prevent illegal trades. Matching records keep the trading account active and ready for the market.
Claiming Dividends: Companies pay out dividends directly to the exact person listed in their shareholding records. A slight mismatch can delay these payouts or cause bank transfer failures. Accurate records ensure that extra income reaches the bank safely.
KYC Approvals: Regulatory bodies require strict and ongoing compliance for all financial participants. Future profile modifications or transferring funds will fail if the details are not identical across all investment platforms. Keeping the Know Your Customer (KYC) data updated prevents these sudden rejections.
Easy Inheritance: Having accurate and matching records makes it much easier for nominees or family members to claim investments in the future without legal hurdles. It secures the financial future of loved ones.

What are the Legal Implications of Change in Name

Ignoring a name mismatch can lead to serious legal and regulatory roadblocks. The financial system relies entirely on accurate data to prevent illegal activities. Leaving old details on an active profile is not an option.

Here are three legal implications of a change in name:

Regulatory Compliance Failure: The Securities and Exchange Board of India (SEBI) demands consistent financial records for all active investors. This strict rule prevents fraud, stops money laundering, and ensures complete investor safety.
Taxation Issues: The Income Tax Department links all financial activities directly to the PAN card. If the stock broker records do not match the official tax records, it can lead to compliance notices or tax filing errors. Accurate names prevent unnecessary scrutiny from tax officials.
Banking Rejections: Stock trading requires a fully linked and verified bank profile. If the bank details have a different identity compared to the stock holding profile, the depository participant will automatically reject money transfers. The law prevents third-party bank transfers to ensure money goes to the rightful owner.

Step by Step Process to Change Your Name

Updating personal records involves a clear and logical sequence of actions. Investors must follow this path carefully to ensure quick approval. Missing a step can restart the entire process.

Step 1: Update the PAN Card First

In India, the PAN card serves as the master financial record for all citizens. It must show the new identity before reaching out to any stock broker. Investors should apply to the Income Tax Department for a PAN correction first.

Step 2: Contact the Depository Participant

The depository participant is the broker or bank actively managing the investments. Account holders should contact their broker to request a specific account modification form. Modern platforms often provide this form as a downloadable file on their official websites.

Step 3: Fill modification form

User shall be very careful while writing the old details, new details, and the unique client ID in the form. Every section must be filled out using clear block letters to avoid reading errors. Providing the correct client master details is highly crucial here.

Step 4: Submit Supporting Documents

The investor must attach the correct legal proofs based on the exact reason for the modification. All document photocopies must be self-attested, which means they must be signed by the account holder. Some brokers also require an in-person verification process over a video call to confirm the identity.

Step 5: Verification and Confirmation

The broker carefully verifies the request and forwards the approved data to the national depositories. This system update usually takes between seven to fifteen business days to complete fully. A final confirmation email or text message is sent once the account reflects the new identity.

Documents Required Based on Reasons

The specific paperwork depends entirely on the life event that caused the identity change. Brokers strictly follow these documentation rules. Preparing the right file saves a lot of time.

1. Due to Marriage

This is the most common reason for a profile update among investors.

A notary-signed copy of the official marriage certificate.
A scanned copy of the passport showing the husband’s name, if available.
Publication of the name change in the Official Gazette, which is optional but helpful.
An updated PAN card showing the newly adopted identity.

2. Due to Divorce

Reverting to a maiden name requires clear legal proof from the courts.

A certified and stamped copy of the legal divorce decree.
An updated PAN card and Aadhaar card reflecting the maiden identity.
A government gazette notification, especially if the identity was legally changed back.

3. Due to Spelling Errors

Sometimes a name is simply misspelled during the initial account opening phase.

self-attested copy of the PAN card showing the correct spelling.
self-attested copy of the Aadhaar card or passport for cross-verification.
A written request letter explaining the exact spelling mistake clearly.

4. Legal Name Change

Adopting a completely new identity for personal or religious reasons requires strict government verification.

The original gazette notification published in the official Government Gazette.
At least two separate identity proofs with the new identity, such as a voter ID or driving license.
An updated PAN card reflecting the completely new name.

5. Father’s Name Change

If the account holder’s father officially changes his name, the linked records must also be updated.

A notarized copy of the official gazette notification showing the father’s new legal identity.
Updated personal KYC documents reflecting the new father’s name.

Comparison of Name Change Categories as per Difficulty Level

Different types of updates require different levels of effort. Gathering a gazette notification is naturally harder than submitting a basic identity card. Brokers classify these requests based on the legal proofs involved.

Here is a direct comparison of the various categories and their difficulty levels.

Category	Proof Required	Difficulty Level
Minor Spelling Error	PAN and Aadhaar	Very Easy
Marriage or Divorce	Marriage Certificate or Divorce Decree	Moderate
Legal Name Change	Gazette Notification	High
Father’s Name Change	Gazette Notification	High

Minor corrections usually get approved very quickly because they only need basic documents. Legal changes take much more time due to the strict government gazette requirement.

Key Points to Remember

Keeping these essential pointers in mind will prevent application rejections. A rejected form means starting the process all over again.

Self-Attestation is Mandatory: Every single photocopy submitted must carry a personal signature. Brokers will immediately reject unverified and unsigned documents because they cannot prove authenticity. This simple signature serves as a personal guarantee of truth.
Signature Mismatches Need Attention: If the personal signature changes alongside the identity, a fresh specimen signature form is required. This specific form must be officially verified and attested by a bank manager. The bank manager confirms that the person signing is the actual account owner.
Joint Accounts Follow Specific Rules: In a joint holding setup, the modification process only applies to the specific person whose details changed. The details of the secondary holders remain completely unaffected. The primary holder must ensure their own details are perfect.
Avoid Trading During the Process: Financial experts highly recommend waiting before selling any shares. Trading actively while the profile modification is in progress can cause technical settlement failures. It is best to pause all market activities for a few days.

Role of Depository (CDSL and NSDL)

Depositories act like highly secure digital bank vaults for shares and mutual funds. In India, the Central Depository Services Limited (CDSL) and the National Securities Depository Limited (NSDL) securely hold these electronic assets. Brokers simply act as the service bridge between the retail investor and these main depositories.

When an investor submits a modification request, the broker verifies the physical documents first. After thorough verification, the broker updates their internal system and sends the approved data to the depositories. The depositories then receive this update and record the changes permanently in their central database.

Conclusion

By understanding the correct administrative steps and gathering the right documents, investors can complete this process very smoothly. A clean and updated profile ensures uninterrupted trading, timely dividend payouts, and highly secure investments.

S.NO.	Check Out These Interesting Posts You Might Enjoy!
1	How to Find Demat Account Number from PAN?
2	Types of Demat Accounts in India
3	Documents Required to Open a Demat Account
4	How to Open a Demat Account Online?
5	Demat Account Nomination – How to Add a Nominee?

Frequently Asked Questions (FAQs)

Can I change my name in a Demat account online?
Yes, many brokers allow online name change through their website or app by submitting documents and a modification request.
How long does a Demat account name change take?
It usually takes 7 to 15 working days after document verification.
Is PAN update mandatory before changing the name in a Demat account?
Yes, your PAN card should be updated first because it is the primary identity proof linked to your Demat account.
What documents are required for a name change after marriage?
You generally need an updated PAN card, marriage certificate, and a valid identity proof.
Can I change my surname in a Demat account?
Yes, you can change your surname by submitting the required documents and a modification form.
What happens if PAN and Demat account names do not match?
A mismatch can cause KYC issues, transaction delays, and problems in receiving dividends.
Is there any fee for name correction in a Demat account?
Some brokers offer it free, while others may charge a small processing fee.
How can I change my name in an NSDL or CDSL Demat account?
Update your PAN card, submit the modification form with supporting documents, and complete the verification process through your broker.

June 19, 2026

Reliance Jio Case Study: Business Model, Financials, SWOT Analysis

The telecommunications market in India has seen massive changes recently. Before 2016, accessing the internet on a mobile phone was very expensive for the average citizen. This completely changed with the launch of a new telecom service that made high speed data affordable. This Reliance Jio case study explores how a single company transformed the digital landscape of an entire country.

Understanding the Reliance Jio Business Model helps readers see how large companies capture a massive market. The company did not just sell mobile connections. It built an entire digital world for its users.

Company Overview

Reliance Jio Infocomm Limited is a major part of Reliance Industries Limited. It is the largest mobile network operator in India today. The marketing strategy of Reliance Jio focused on giving free services initially to build trust and digital habits.

A proper Financials analysis of Reliance Jio shows how the company balances its massive network expenses with its daily revenue. Finally, a swot analysis of Reliance Jio will reveal the internal strengths and external threats the business faces today.The company runs a huge network of 4G and 5G across India. which makes its network very modern and efficient. By early 2026, the company crossed 524 million telecom subscribers.

The Rise of Jio in Telecom Sector

Let’s see how Jio changed the telecommunication industry of India with its cheap and affordable offerings.

Resolving the core problem: The company’s arrival in the Indian telecom sector brought a significant change to the market. Before it launched its services, users were charged separately for voice calls, SMS, and mobile data. Internet access was particularly expensive, with 1 GB of data often costing around ₹250.
Provided freebies: The company then offered a welcome plan with totally free voice calls and free unlimited data for several months. This bold move attracted millions of customers almost overnight. In just 83 days, the network gained 50 million subscribers.
Disrupt telecom industry: This rapid rise forced other telecom companies to drop their prices to survive. Many smaller companies could not handle the competition and had to shut down. Larger companies had to merge their businesses to stay alive. Voice calls became free, and companies started making money mostly from internet data.

Business Model of Reliance Jio

This telecom giant relies on volume, advanced technology, and bundled services. Here are the three main points of the business model.

Data-Centric and Free Voice Services: The company uses an all-IP network. This means voice calls travel as data over the internet. The cost of connecting a call is almost zero, so the company gives voice calls for free and charges only for data usage.
The Digital Ecosystem Approach: The business does not stop at selling SIM cards. It offers a huge family of free digital apps like JioCinema and JioSaavn. By keeping users engaged within these apps, the company ensures that customers consume more data on their network.
Affordable Hardware Solutions: To get more people to use the internet, the company launched low-cost 4G phones. These affordable devices help lower-income citizens connect to the internet. This brings more paying customers to the telecom network.

Product Portfolio of Reliance JIO

Here are some main product reliance jio deals in:

Mobile Telephony (4G and 5G): The company provides high-speed wireless internet and voice services to smartphones.
JioFiber and JioAirFiber: These are home broadband services. JioFiber uses physical cables to provide internet. JioAirFiber uses wireless 5G technology to provide the same service without physical wires.
Jio Devices: With the brand name jio company sells low cost laptop and affordable smart phones Jio tag and internet routers.
Digital Applications: The company has apps for entertainment, health, and news. JioCinema gained massive popularity by streaming live sports for free.

Business Strategy of Reliance Jio

The business strategy is built around mass adoption and deep market penetration. Initially, the company used a loss leader strategy. This means a company offers a product at a loss to attract a massive number of customers. The goal is to build a huge customer base and make profits later.

In their next phase company started focusing to citizens who could not afford expensive smartphones. By launching internet-enabled feature phones, the company brought millions of rural Indians online.

The company also targets premium users today. By introducing latest 5G networks faster than competitors, it attracts customers who want the best internet speed.

Top 3 Deals of Reliance Jio Which Made Them Tech Giant

When we look at how this telecom operator became a global tech giant, you cannot ignore the massive investments it attracted in 2020. Large global companies saw the potential of the digital revolution in India and decided to partner with the brand. Here are the top three deals that changed everything:

The Meta Deal: Mark Zuckerberg’s meta acquired a 10% stake in Jio for ₹43,574 crore. The investment aimed to support small businesses across India by helping them reach and communicate with customers through platforms such as WhatsApp. .
The Google Deal: after Google invested 33,737 crore rupees for a 7.73 percent stake. This helped make smartphones affordable for people in India giving them easy access to the internet.
The Silver Lake Deal: Silver Lake, an investment firm in the United States put in,over 10,000 crore rupees. They bought 2 percent of Jio.

These partnerships helped the company clear its debt and build a stronger foundation for future technologies like artificial intelligence.

Market Data of Reliance JIO

To understand the sheer size of the company, looking at market data is very helpful. This data shows how many people use the service and the company’s position in the industry. The data below uses figures reported by the Telecom Regulatory Authority of India and financial platforms like Moneycontrol.

Market Metric	Data Points (Q4 FY 2026)
Total Subscriber Base	524 million users
Broadband Subscribers	523.44 million users
Market share (Wireless)	Approximately 40%
5G Subscriber Base	268 million users

(Data is sourced from the transcript of reliance industries ltd as on 24 april 2026)

Financial Statement extract of Reliance Jio

Financial statements act like a report card for a business. They show the money coming in, the money going out, and what the company owns. The standalone financial results for the year ended March 31, 2026, provide a clear picture of the company’s health.

P&L Particulars (Standalone FY26)	Amount (in Rs Crore)
Revenue From Operations	1,46,885
EBITDA	76,255
EBITDA Margin	52%
Profit After tax	30,000

(Data is sourced from the transcript of reliance industries ltd as on 24 april 2026)

Key Performance Indicators

For a telecom company, the most important indicators relate to users and their data habits.

Key Performance Indicator	Metric Value
Average Revenue Per User (ARPU)	Rs 214 per month
Monthly Churn Rate	1.7 percent
Data Consumption Per User	42.1 – 42.8 GB per month
Total Data Traffic Growth	35 percent year-on-year
Fixed Broadband Base	27.1 million users

(Data is sourced from the transcript of reliance industries ltd as on 24 april 2026)

SWOT Analysis of Reliance JIO

A SWOT analysis breaks down internal strengths and weaknesses, along with external opportunities and threats. This tool is very helpful for understanding the current position of the business.

Strengths

Largest Customer Base: The company has over 524 million users. This massive scale provides a strong and steady stream of revenue every single month.
Strong Parent company: Finance is the crucial part of every new company but being a part of Reliance Industries provides immense financial security.
Modern Infrastructure: The company built a modern network from scratch. It does not have to maintain old 2G or 3G networks, making operations much cheaper.

Weaknesses

High Debt Levels: Building a nationwide 4G and 5G network requires borrowing money. The company carries significant debt from buying spectrum and laying fiber cables.
Low Prices Squeeze Margins: Because the strategy relies on affordable pricing, the profit made per user is lower compared to telecom companies in Western countries.
Dependence on Telecom Services: Most of the company revenue comes from basic telecom recharges. Other digital services like movies or music bring in very little direct revenue.

Opportunities

5G Monetization: As millions of users shift to 5G, the company can introduce premium plans. High speed 5G can also power smart homes and advanced business tools in the future.
Enterprise Digital Solutions: There is a huge opportunity to sell technology services to other businesses. The company can offer cloud storage, cybersecurity, and private networks to large corporations.
Expansion of JioAirFiber: Connecting rural homes with physical wires is tough. Using wireless 5G broadband to deliver home internet is a massive growth area with millions of potential customers.

Threats

Fierce Competition: Competitors like Bharti Airtel are constantly fighting back. Airtel also has a strong 5G network and targets high paying premium customers.
Regulatory Changes: The telecom sector is heavily controlled by the government. Any new taxes, rules, or spectrum pricing changes by the telecom authorities can negatively impact profits.
Rapid Technological Shifts: Technology changes very fast. The company must constantly spend thousands of crores to upgrade from 4G to 5G to stay relevant.

Read Also: Reliance Industries Case Study

Conclusion

The journey of this telecom giant has completely rewritten the story of digital India. From using limited data and slow internet speed to providing unlimited data with high speed internet at their initial phase gives them place in the market. Providing the best services to the customer and value for money is the main unique strategy for the company which helps them to grow rapidly Despite challenges like high debt and fierce competition,the future looks very bright for this market leader.

S.NO.	Check Out These Interesting Posts You Might Enjoy!
1	TCS Case Study
2	Vedanta Case Study
3	Reliance Power Case Study
4	BPCL Case Study
5	Apollo Hospitals Case Study

Frequently Asked Questions (FAQs)

Where is Reliance jio’s head office located?
The companies headquarter is located in in 5th Floor, Maker Chambers IV, 222, Nariman Point, Mumbai – 400 021 Maharashtra India
Who is the chairman of Reliance Jio infocomm Ltd?
Currently akash ambani is the chairman of reliance jio infocomm Ltd company.
What is the meaning of key performance indicators?
KPI are special indicator like EBITDA, ARPU and churn rate
Why is ARPU important in a telecom case study?
ARPU stands for Average Revenue Per user. it shows exactly how much money the company earns from an individual customer each month.
How did the Jio marketing strategy benefit the common citizen?
The marketing strategy focused on giving affordable access to the internet. This benefited the common citizen by making digital payments and online education.

June 19, 2026

Blog

What Is a Brokerage Account?

What Is a Brokerage Account?

How Does a Brokerage Account Work?

Types of Brokerage Accounts

How to Choose the Right Brokerage Account

Importance of Choosing the Right Brokerage Account

How to Open a Brokerage Account With Pocketful

Conclusion

Frequently Asked Questions (FAQs)

What is a brokerage account?

Is a brokerage account different from a Demat account?

Can I open more than one brokerage account?

Can I invest in mutual funds through a brokerage account?

Can I open a brokerage account online?

Mutual Fund Redemption Explained

Meaning of Mutual Fund Redemption

Partial vs Full Redemption

How to Redeem Mutual Funds Online Step by Step

Mutual Fund Redemption Process Offline Method

SIP Redemption Time: What You Need to Know

Mutual Fund Redemption Timeline How Long Does It Take?

Cut-Off Time for Mutual Fund Redemption

Exit Load: The Charge You Must Know About

How Exit Load Is Calculated

Typical Exit Load Structure

Tax on Mutual Fund Redemption

Equity Mutual Funds

Debt Mutual Funds

The Right Moment to Sell Your Mutual Fund?

How to Invest in Mutual Funds with Pocketful

Step 1: Create Your Account

Step 2: Complete Your KYC

Step 3: Select a Mutual Fund

Step 4: Start Your SIP or Lump Sum Investment

Conclusion

Frequently Asked Questions (FAQs)

What is Redemption in Mutual Fund Investing?

How Long Does Mutual Fund Redemption Take Anyway?

What’s the Deal with SIP Redemption Time?

Can I Redeem My Mutual Fund Any Time I Want?

How Do I Go About Reducing my Mutual Funds Online?

Is Mutual Fund Redemption Taxable?

What Time is the Cut-Off for Mutual Fund Redemption?

PhonePe Case Study: How India’s Largest UPI App Makes Money

PhonePe Company Overview

PhonePe at a Glance

The Story Behind PhonePe

PhonePe Growth Journey Timeline of Key Milestones

Industry Overview India’s Digital Payments Revolution

UPI Market Share Analysis

PhonePe Business Model Explained

Marketing Strategy of PhonePe

Financial Analysis of PhonePe

1. Revenue Crossed ₹5,000 Crore

2. Losses Are Narrowing

3. Adjusted Profit Turned Positive

4. Revenue Sources Are Expanding

5. Strong Long-Term Growth

SWOT Analysis of PhonePe

Strengths

Weaknesses

Opportunities

Threats

Conclusion

Frequently Asked Questions (FAQs)

Who founded PhonePe?

When was PhonePe launched?

Is PhonePe owned by Flipkart?

What is the business model of PhonePe?

How does PhonePe earn money?

What Is NAV in Mutual Funds?

NAV Full Form and Meaning

How Is NAV Calculated?

Example of NAV Calculation

Does NAV Determine Mutual Fund Returns?

What Is a Good NAV for a Mutual Fund?

Why Some Funds Have Higher NAVs

Why New Mutual Funds Usually Have Lower NAVs

How Much NAV Is Good in Mutual Fund Investments?