Bigul (Bonanza)SEBI INZ000212137
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹250/yr + GST
- SME IPOs
- Not stated
- Delivery brokerage
- ₹18/order
- Cost to sell ₹15,000 of IPO shares
- ₹35.40Brokerage and DP with GST, ours
Indiabulls SecuritiesSEBI INZ000036136
- Account opening
- ₹0
- Demat AMC
- ₹25/month + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹11 or 2.5%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹36.58Brokerage and DP with GST, ours
Where Bigul (Bonanza) and Indiabulls Securities differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Bigul (Bonanza) | Indiabulls Securities |
|---|---|---|
| One mainboard lot, ₹15,000₹1.18 less at Bigul (Bonanza) | ₹35.40 | ₹36.58 |
| Two SME lots, ₹2,50,000₹36.58 less at Bigul (Bonanza) | ₹35.40 | ₹71.98 |
| A year: 12 mainboard lots sold₹14.16 less at Bigul (Bonanza) | ₹424.80 | ₹438.96 |
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): Free in the first year, then ₹250 a year plus GST at Bigul (Bonanza), ₹25 plus GST a month on the pricing page at Indiabulls Securities.
- Equity delivery brokerage: ₹18 per order at Bigul (Bonanza), 2.5% or ₹11 per executed order, whichever is lower at Indiabulls Securities.
- DP charge on selling shares: ₹14.16 per scrip including depository charges and GST at Bigul (Bonanza), ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold… at Indiabulls Securities.
- Mainboard IPOs: not stated at Bigul (Bonanza), Yes. The home page describes ASBA, where the money stays in your bank… at Indiabulls Securities.
- SME IPOs: not stated at Bigul (Bonanza), Yes, confirmed by Indiabulls Securities on 23 Oct 2026 at Indiabulls Securities.
The same at both: account opening.
Bigul (Bonanza) vs Indiabulls Securities: charges side by side
Differs 6 of 7 charges differ between Bigul (Bonanza) and Indiabulls Securities. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Bigul (Bonanza) | Indiabulls Securities |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | Free in the first year, then ₹250 a year plus GST; basic services demat accounts: ₹0 up to ₹4 lakh | ₹25 plus GST a month on the pricing page; ₹300 a year plus GST on the DP schedule |
| Apply for IPOs | ||
| Mainboard IPOs | Not stated on the pages we checked | Yes. The home page describes ASBA, where the money stays in your bank account until allotment |
| SME IPOs | Not stated on the pages we checked | Yes, confirmed by Indiabulls Securities on 23 Oct 2026 (not yet stated on its pricing page) |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹18 per order | 2.5% or ₹11 per executed order, whichever is lower |
| DP charge on selling shares | ₹14.16 per scrip including depository charges and GST | ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold through Indiabulls Securities (₹30 or 0.03% otherwise) |
| Registration | ||
| SEBI registration | INZ000212137 | INZ000036136 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Bigul (Bonanza) and Indiabulls Securities pages.
Bigul (Bonanza) and Indiabulls Securities strengths and things worth checking
Bigul (Bonanza)
Strengths
- Flat ₹18
- DP charge with GST shown
Worth checking
- Pledge charge
₹118 per ISIN per request.
- IPO access not stated
The pricing page does not mention IPOs.
Indiabulls Securities
Strengths
- Flat ₹11 per order
- ₹0 account opening
- Fixed MTF rate
- SME IPOs
Worth checking
- Brokerage on delivery
₹11 per order on delivery, where some brokers charge ₹0.
- AMC from the start
₹25 plus GST a month (₹300 plus GST a year); the pricing page does not mention a free first year.
Brokerage calculator: Bigul (Bonanza) vs Indiabulls Securities
| Charge | Bigul (Bonanza) | Indiabulls Securities |
|---|
Ours, with NSE rates. Change the trade to see what Bigul (Bonanza) and Indiabulls Securities would each charge.
Other comparisons
Every comparison with Bigul (Bonanza) or Indiabulls Securities, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Bigul (Bonanza) or Indiabulls Securities?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹35.40 in broker charges at Bigul (Bonanza) and ₹36.58 at Indiabulls Securities (our calculation). For two SME lots worth ₹2,50,000: Bigul (Bonanza) ₹35.40, Indiabulls Securities ₹71.98 (our calculation, brokerage and DP charge with GST).
How much would the difference between Bigul (Bonanza) and Indiabulls Securities be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Bigul (Bonanza) costs ₹14.16 less in broker charges (our calculation). Add the yearly AMC: Bigul (Bonanza): Free in the first year, then ₹250 a year plus GST; Indiabulls Securities: ₹25 plus GST a month on the pricing page.
Can I apply for SME IPOs on Bigul (Bonanza) and Indiabulls Securities?
Indiabulls Securities lets you apply for SME IPOs; Bigul (Bonanza) does not say so on the pages we checked.
What is the demat AMC at Bigul (Bonanza) and Indiabulls Securities?
Bigul (Bonanza): Free in the first year, then ₹250 a year plus GST. Indiabulls Securities: ₹25 plus GST a month on the pricing page.
What brokerage do Bigul (Bonanza) and Indiabulls Securities charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹21.24 at Bigul (Bonanza) and ₹12.98 at Indiabulls Securities (our calculation from their published rates).