With the biggest IPO of the Indian market � Reliance [Get Quote] Power -- slated to open on January 15 and investors leaving no stones unturned to maximize assured returns, rentals for demat accounts have shot through the roof.

Many demat accountholders, who don't want to apply for an IPO, rent out their accounts at a price.

In this case, somebody else gives the money to be invested to the account holder, who applies for the shares and, in turn, issues delivery slip to the actual investor.

Such rented demat activity was at its peak prior to the unearthing of the demat account scam some time back. However, due to stringent Securities and Exchange Board of India (Sebi) guidelines, the activity had been brought under control.

But now with the markets at an unprecedented high level, renting of demat accounts for subscription of IPOs has picked up in a big way again.

And, the Reliance Power IPO has given a big push to the rentals which have touched the Rs 3,000 mark. The rentals were around Rs 1,500 during the Mundra Port and SEZ Ltd (MPSEZL) issue recently.

"Reputation of the Reliance Group and a bullish market have prompted retail investors in Gujarat, known for their high appetite for public issues, to make a beeline for subscription to ensure maximum allotment of RPL shares. As a result, demat account rentals have risen to such a record level," says a sub-broker in Ahmedabad.