India’s booming inventory market is attracting hundreds of thousands of particular person buyers hoping to get wealthy fast.

The benchmark S&P BSE Sensex Index is round 16% increased this yr and hit an all-time excessive this month. The surge inspired buyers to open greater than 11 million new accounts with the National Stock Exchange of India in 2023 by the top of August, and has led to file flows into mutual funds that purchase shares. The hottest play: subscribing for shares in new listings, which generally surge in worth in the course of the first few days of buying and selling.