Alice BlueSEBI INZ000156038
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 or 2.5%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹41.30Brokerage and DP with GST, ours
GrowwSEBI INZ000301838
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Yes
- Delivery brokerage
- ₹20 or 0.1%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹41.30Brokerage and DP with GST, ours
Where Alice Blue and Groww differ
3 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Alice Blue | Groww |
|---|---|---|
| One mainboard lot, ₹15,000Same at both | ₹41.30 | ₹41.30 |
| Two SME lots, ₹2,50,000₹5.90 less at Alice Blue | ₹41.30 | ₹47.20 |
| A year: 12 mainboard lots soldSame at both | ₹495.60 | ₹495.60 |
Ours: brokerage and DP charge with 18% GST. STT and exchange charges are equal everywhere, so they are left out. SME bids are two lots.
- Equity delivery brokerage: ₹20 or 2.5 per executed order, whichever is lower, as shown on the… at Alice Blue, ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww.
- DP charge on selling shares: ₹15 plus GST per scrip, on sales only at Alice Blue, ₹3.50 depository at Groww.
- SME IPOs: not stated at Alice Blue, Yes, SME IPOs can be applied for on Groww at Groww.
The same at both: account opening, Demat maintenance (AMC) and Mainboard IPOs.
Alice Blue vs Groww: charges side by side
Differs 3 of 7 charges differ between Alice Blue and Groww. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Alice Blue | Groww |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 for life on the current plan | ₹0 |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, with ₹0 brokerage | Yes, in the Stocks tab of the app with a UPI mandate. The mandate request arrives within an hour or two |
| SME IPOs | Not stated on the pages we checked | Yes, SME IPOs can be applied for on Groww |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 2.5 per executed order, whichever is lower, as shown on the pricing page | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 |
| DP charge on selling shares | ₹15 plus GST per scrip, on sales only | ₹3.50 depository (₹3.25 for women) plus ₹16.50 Groww per sell, plus GST; ₹0 when the debit value is under ₹100 |
| Registration | ||
| SEBI registration | INZ000156038 | INZ000301838 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Alice Blue and Groww pages.
Alice Blue and Groww strengths and things worth checking
Alice Blue
Strengths
- ₹0 AMC for life
- IPO applications free
Worth checking
- Brokerage on delivery
Up to ₹20 per order.
- DP charge
₹15 plus GST per sale.
Groww
Strengths
- ₹0 AMC
- ₹0 account opening
- SME IPOs in the app
Worth checking
- Brokerage on delivery
Up to ₹20 per order (0.1%, minimum ₹5) when you sell IPO shares.
- DP charge on sale
₹20 plus GST each time you sell a stock from your demat account.
Brokerage calculator: Alice Blue vs Groww
| Charge | Alice Blue | Groww |
|---|
Ours, with NSE rates. Change the trade to see what Alice Blue and Groww would each charge.
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Every comparison with Alice Blue or Groww, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Alice Blue or Groww?
Selling one mainboard lot of IPO shares (₹15,000) costs the same ₹41.30 in broker charges at both. For two SME lots worth ₹2,50,000: Alice Blue ₹41.30, Groww ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Alice Blue and Groww be over a year?
Nothing on selling: 12 mainboard lots of ₹15,000 cost ₹495.60 at both (our calculation). Compare the yearly AMC as well.
Can I apply for SME IPOs on Alice Blue and Groww?
Groww lets you apply for SME IPOs; Alice Blue does not say so on the pages we checked.
What brokerage do Alice Blue and Groww charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹23.60 at Alice Blue and ₹17.70 at Groww (our calculation from their published rates).
What DP charge do Alice Blue and Groww take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹17.70 at Alice Blue; ₹23.60 at Groww (our calculation). It is charged on each sale from your demat account.