Bajaj BrokingSEBI INZ000218931
- Account opening
- ₹0
- Demat AMC
- ₹0 (pack ₹431/yr from year 2)
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹64.90Brokerage and DP with GST, ours
HDFC Securities (HDFC Sky)SEBI INZ000186937
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹240/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20 or 2.5%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Bajaj Broking and HDFC Securities (HDFC Sky) differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Bajaj Broking | HDFC Securities (HDFC Sky) |
|---|---|---|
| One mainboard lot, ₹15,000₹17.70 less at HDFC Securities (HDFC Sky) | ₹64.90 | ₹47.20 |
| Two SME lots, ₹2,50,000₹17.70 less at HDFC Securities (HDFC Sky) | ₹64.90 | ₹47.20 |
| A year: 12 mainboard lots sold₹212.40 less at HDFC Securities (HDFC Sky) | ₹778.80 | ₹566.40 |
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.
- Demat maintenance (AMC): Nil, but the Freedom Pack subscription is ₹431 a year from the second… at Bajaj Broking, ₹0 for the first year, then ₹20 a month plus GST at HDFC Securities (HDFC Sky).
- Equity delivery brokerage: ₹20 per order at Bajaj Broking, ₹20 or 2.5% per order, whichever is lower at HDFC Securities (HDFC Sky).
- DP charge on selling shares: ₹35 or 0.0002% of the value, whichever is higher, plus taxes at Bajaj Broking, ₹20 per scrip at HDFC Securities (HDFC Sky).
The same at both: account opening, Mainboard IPOs and SME IPOs.
Bajaj Broking vs HDFC Securities (HDFC Sky): charges side by side
Differs 4 of 7 charges differ between Bajaj Broking and HDFC Securities (HDFC Sky). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Bajaj Broking | HDFC Securities (HDFC Sky) |
|---|---|---|
| Open an account | ||
| Account opening | Nil | Free |
| Demat maintenance (AMC) | Nil, but the Freedom Pack subscription is ₹431 a year from the second year (free in the first) | ₹0 for the first year, then ₹20 a month plus GST (basic services demat accounts under ₹50,000: ₹0) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes, on HDFC Sky |
| SME IPOs | Yes. SME IPOs are listed with an Apply Now option | Yes. HDFC Sky says you can apply for SME IPOs in one click |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 per order (Professional Pack: ₹10, for ₹2,500 a year) | ₹20 or 2.5% per order, whichever is lower |
| DP charge on selling shares | ₹35 or 0.0002% of the value, whichever is higher, plus taxes | ₹20 per scrip (the support page does not say whether GST is extra; we add 18% in our calculation) |
| Registration | ||
| SEBI registration | INZ000218931 | INZ000186937 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Bajaj Broking and HDFC Securities (HDFC Sky) pages.
Bajaj Broking and HDFC Securities (HDFC Sky) strengths and things worth checking
Bajaj Broking
Strengths
- Cheaper dealer orders
- No demat AMC
- SME IPOs
Worth checking
- Pack fee from year two
₹431 a year for the Freedom Pack.
- Higher DP charge
₹35 plus taxes per sale.
HDFC Securities (HDFC Sky)
Strengths
- Flat ₹20 cap
- SME IPOs
- ₹0 account opening
Worth checking
- AMC after year one
₹20 a month plus GST from the second year.
- Two MTF rates published
The pricing page says 1% a month and the support page says 15% a year. Confirm before you use margin funding.
- DP charge
₹20 per sale.
Brokerage calculator: Bajaj Broking vs HDFC Securities (HDFC Sky)
| Charge | Bajaj Broking | HDFC Securities (HDFC Sky) |
|---|
Ours, with NSE rates. Change the trade to see what Bajaj Broking and HDFC Securities (HDFC Sky) would each charge.
Other comparisons
Every comparison with Bajaj Broking or HDFC Securities (HDFC Sky), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Bajaj Broking or HDFC Securities (HDFC Sky)?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹47.20 in broker charges at HDFC Securities (HDFC Sky) and ₹64.90 at Bajaj Broking (our calculation). For two SME lots worth ₹2,50,000: Bajaj Broking ₹64.90, HDFC Securities (HDFC Sky) ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Bajaj Broking and HDFC Securities (HDFC Sky) be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, HDFC Securities (HDFC Sky) costs ₹212.40 less in broker charges (our calculation). Add the yearly AMC: Bajaj Broking: Nil, but the Freedom Pack subscription is ₹431 a year from the second…; HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST.
Can I apply for SME IPOs on Bajaj Broking and HDFC Securities (HDFC Sky)?
Both let you apply for SME IPOs.
What is the demat AMC at Bajaj Broking and HDFC Securities (HDFC Sky)?
Bajaj Broking: Nil, but the Freedom Pack subscription is ₹431 a year from the second…. HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST.
What brokerage do Bajaj Broking and HDFC Securities (HDFC Sky) 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 Bajaj Broking and ₹23.60 at HDFC Securities (HDFC Sky) (our calculation from their published rates).