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
UpstoxSEBI INZ000315837
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Bajaj Broking and Upstox differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Bajaj Broking | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000₹17.70 less at Upstox | ₹64.90 | ₹47.20 |
| Two SME lots, ₹2,50,000₹17.70 less at Upstox | ₹64.90 | ₹47.20 |
| A year: 12 mainboard lots sold₹212.40 less at Upstox | ₹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 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- Equity delivery brokerage: ₹20 per order at Bajaj Broking, ₹20 per executed order at Upstox.
- DP charge on selling shares: ₹35 or 0.0002% of the value, whichever is higher, plus taxes at Bajaj Broking, ₹20 plus GST per scrip per day at Upstox.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Bajaj Broking vs Upstox: charges side by side
Differs 4 of 7 charges differ between Bajaj Broking and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Bajaj Broking | Upstox |
|---|---|---|
| Open an account | ||
| Account opening | Nil | ₹0 |
| Demat maintenance (AMC) | Nil, but the Freedom Pack subscription is ₹431 a year from the second year (free in the first) | ₹0 in the first year for new customers, then ₹300 plus GST a year (BSDA accounts have separate terms) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes, in the IPO section of the app with a UPI mandate |
| SME IPOs | Yes. SME IPOs are listed with an Apply Now option | Yes, using the SME IPO filter in the IPO section. SME bids need a price; cut-off is not allowed |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 per order (Professional Pack: ₹10, for ₹2,500 a year) | ₹20 per executed order |
| DP charge on selling shares | ₹35 or 0.0002% of the value, whichever is higher, plus taxes | ₹20 plus GST per scrip per day (₹3.50 CDSL and ₹16.50 Upstox; ₹3.25 and ₹16.75 for women) |
| Registration | ||
| SEBI registration | INZ000218931 | INZ000315837 |
For other trading, equity intraday, Futures, Call and trade and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Bajaj Broking and Upstox pages.
Bajaj Broking and Upstox 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.
Upstox
Strengths
- Zero commission on IPOs
- ₹0 account opening
- SME IPOs in the app
Worth checking
- Flat ₹20 on delivery
Even a small sale of IPO shares costs ₹20 brokerage plus a ₹20 plus GST DP charge.
- Dealer orders cost more
Call and trade and auto square-off cost ₹75 plus GST each.
- AMC after the first year
₹300 plus GST a year.
Brokerage calculator: Bajaj Broking vs Upstox
| Charge | Bajaj Broking | Upstox |
|---|
Ours, with NSE rates. Change the trade to see what Bajaj Broking and Upstox would each charge.
Other comparisons
Every comparison with Bajaj Broking or Upstox, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Bajaj Broking or Upstox?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹47.20 in broker charges at Upstox and ₹64.90 at Bajaj Broking (our calculation). For two SME lots worth ₹2,50,000: Bajaj Broking ₹64.90, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Bajaj Broking and Upstox be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Upstox 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…; Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
Can I apply for SME IPOs on Bajaj Broking and Upstox?
Both let you apply for SME IPOs.
What is the demat AMC at Bajaj Broking and Upstox?
Bajaj Broking: Nil, but the Freedom Pack subscription is ₹431 a year from the second…. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
What brokerage do Bajaj Broking and Upstox 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 Upstox (our calculation from their published rates).