Nearly 63% of investors on the Grip Invest platform are millennials
Source: Business Standard
About 63 per cent of all investors on the Grip Invest platform are millennials, said Grip Invest in a report.
Grip Invest is a digital investment platform for high-yield, non-market-linked investments for retail customers. According to the report, female participation in corporate bonds on its platform has increased by 52 per cent in 2024 on a year-on-year basis. Additionally, the report revealed that average investment in corporate bonds on its platform has increased by 1.8 times from the previous year.
Overall, corporate bond investments on its platform saw a 200 per cent rise, reaching Rs 450 crore in 2024.
Repeat investments in corporate bonds on its platform also quadrupled in 2024, indicating strong investor confidence.
Further, the report said that the top 10 cities contributed 43 per cent of total corporate bond investments on its platform, with the remaining coming from over 3,000 pincodes. Out of the total investments on the platform, 71 per cent of corporate bonds are rated ‘A’ or above, offering typical returns of 12 per cent with a tenure of 18 months. Fifty-four per cent of female investors chose corporate bonds as their first investment in Q2 2024, showing a preference for diversified, risk-managed portfolios.
First Published: Sep 26 2024 | 8:21 PM IST
