New Delhi, July 25 -- National Securities Depository Ltd (NSDL) has onboarded the majority of new brokers entering the market in recent quarters, surpassing its competitor in this segment, according to the company's managing director and chief executive Vijay Chandok.

"These newly onboarded brokers are primarily new-age players who are currently small but are expected to grow significantly in size and scale," Chandok told Mint, speaking after NSDL's press conference in Mumbai announcing the price band for its initial public offering (IPO).

Bringing in new brokers could be a key move for NSDL, especially as rival Central Depository Services Ltd (CDSL) currently leads in terms of new demat account openings.

As of FY25, CDSL had 37.38 mil...