Written by Upstox Desk
6 min read | Updated on July 31, 2025, 18:25 IST
What is DP?
Advantages of Depository System
Functions of Depository Participant
DP in IPO Application
What is DP ID?
The difference between Depository and Depository Participant
Conclusion
Frequently Asked Questions (FAQs)
Upstox is a leading Indian financial services company that offers online trading and investment services in stocks, commodities, currencies, mutual funds, and more. Founded in 2009 and headquartered in Mumbai, Upstox is backed by prominent investors including Ratan Tata, Tiger Global, and Kalaari Capital. It operates under RKSV Securities and is registered with SEBI, NSE, BSE, and other regulatory bodies, ensuring secure and compliant trading experiences.
After Covid-19 and lockdown, the number of IPO applicants has been rising. Technology and digitalization have made it easier to apply for IPOs and invest your money in the stock market. The ease of applying for IPO and investing has made many ignorant while making such applications. There are various sections to fill out at the time of IPO application. One such column is "DP Name."
Let's understand the DP name, advantage, and application of this so that you will be aware of such details next time you apply for IPO.
The article will cover:
DP is the acronym for depository participant. As per the definition in law, a DP is an entity registered with SEBI under sub-section 1A of Section 12 of the SEBI Act. A Demat account, a trading account, and a bank account are required for applying for the IPO.
The depository participant manages the trading account, and the depository manages the Demat account. Specific securities are credited to the investor's Demat account in exchange for the money invested in the transaction, which is carried out through exchanges.
A depository is a business that stores your securities and offers related services. Securities cannot be kept in a physical locker because they are dematerialized or electronic. It is stored in the depositories' Demat account. In essence, the depositories store the securities traded on stock exchanges.
In India, there are two different kinds of depositories:
The NSDL is supported by the National Stock Exchange (NSE) and other financial institutions. On the other hand, CDSL is supported by the Bombay Stock Exchange (BSE) and other financial institutions.
You and the depository are connected through the depository participant. All the depositories are listed with SEBI and the authority on the capital markets.
The depositories serve as the vault where the securities are stored, but they are not in direct contact with either the investor or the issuing companies. Any institution, from banks to brokers, can be a depository participant.
There won't be any confusion when filling out the IPO application regarding the DP name once the distinction between the depository and the depository participant has been clearly understood. The depository participant's name is the DP name. The box labelled "DP name" must be filled out with the broker's name. The Depository, DP ID, and DP account come before the DP name. You must select NSDL or CDSL in the depository section.
The depository participant is given a number, or DP ID, by the depository. The DP ID is typically the first eight digits of the Demat account number. The 16-digit Demat account number and the DP ID are different numbers.
It is simple to recognise the Demat account numbers provided by NSDL and CDSL. Demat account numbers provided by NSDL begin with "IN," whereas those provided by CDSL start with a numeric digit.
Dematerialised financial securities are kept in depository locations. A Depository Participant (DP) is referred to as an Agent of the Depository (by law). It is in charge of maintaining ownership records up to date and facilitating the trading of dematerialised securities. They act as a go-between for investors and the depository. A contract between the two parties under the Depositories Act governs the relationship between the DPs and the depository.
Applying for an IPO has become more straightforward, thanks to digitisation. Extensive details, however, might make the procedure a little tricky. It is simple to fill out the form once you know the duties of the depository participant and the depository. Information on the roles and responsibilities of depository participants makes filling out an IPO application quick and effortless.
Whether your account was created with CDSL and NSDL is indicated by the field DP name in an online form. Using the 16-digit DP number can, you can locate your DP name. While NSDL uses an alphanumeric combination with the first two alphabets and the remaining 14 digits, CDSL uses a 16-digit ID number.
The depository participant's name is the DP name. The box labelled "DP name" must be filled with the broker's name. You must select NSDL or CDSL in the depository section.
DP ID of 81800, Upstox is a Depository Participant (DP) of central depositories CDSL. View the RKSV CDSL Membership information. Your Demat account is held by CDSL (Central Depository Services Limited) and NSDL (National Depository Services Limited), two central depositories in India.
A Demat account number is a particular 16-digit account number given to the owner of a Demat account by the depository participant to conduct trading via electronic mode.
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Upstox Desk
Upstox Desk
Team of expert writers dedicated to providing insightful and comprehensive coverage on stock markets, economic trends, commodities, business developments, and personal finance. With a passion for delivering valuable information, the team strives to keep readers informed about the latest trends and developments in the financial world.
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