DhanSEBI INZ000006031
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Yes
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹14.75Brokerage 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 Dhan and Groww differ
3 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Dhan | Groww |
|---|---|---|
| One mainboard lot, ₹15,000₹26.55 less at Dhan | ₹14.75 | ₹41.30 |
| Two SME lots, ₹2,50,000₹32.45 less at Dhan | ₹14.75 | ₹47.20 |
| A year: 12 mainboard lots sold₹318.60 less at Dhan | ₹177.00 | ₹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: ₹0 at Dhan, ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww.
- DP charge on selling shares: ₹12.50 plus GST per instruction per ISIN at Dhan, ₹3.50 depository at Groww.
The same at both: account opening, Demat maintenance (AMC), Mainboard IPOs and SME IPOs.
Dhan vs Groww: charges side by side
Differs 3 of 7 charges differ between Dhan and Groww. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Dhan | Groww |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 for individuals and HUFs | ₹0 |
| Demat maintenance (AMC) | ₹0 for individuals and HUFs (₹800 plus GST for NRIs, companies, LLPs, firms and trusts) | ₹0 |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free, with UPI | Yes, in the Stocks tab of the app with a UPI mandate. The mandate request arrives within an hour or two |
| SME IPOs | Yes, SME IPOs can be applied for with mobile UPI | Yes, SME IPOs can be applied for on Groww |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹0 | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 |
| DP charge on selling shares | ₹12.50 plus GST per instruction per ISIN | ₹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 | INZ000006031 | INZ000301838 |
For other trading, equity intraday, Call and trade and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Dhan and Groww pages.
Dhan and Groww strengths and things worth checking
Dhan
Strengths
- ₹0 brokerage on delivery
- Low DP charge
- ₹0 AMC and account opening
Worth checking
- Dealer orders cost extra
Call and trade is ₹50 plus GST per order.
- MTF rate rises with size
From 12.49% a year, up to 15.49% on larger amounts.
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: Dhan vs Groww
| Charge | Dhan | Groww |
|---|
Ours, with NSE rates. Change the trade to see what Dhan and Groww would each charge.
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Every comparison with Dhan or Groww, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Dhan or Groww?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹14.75 in broker charges at Dhan and ₹41.30 at Groww (our calculation). For two SME lots worth ₹2,50,000: Dhan ₹14.75, Groww ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Dhan and Groww be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Dhan costs ₹318.60 less in broker charges (our calculation). Add the yearly AMC: Dhan: ₹0 for individuals and HUFs; Groww: ₹0.
Can I apply for SME IPOs on Dhan and Groww?
Both let you apply for SME IPOs.
What brokerage do Dhan 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 ₹0.00 at Dhan and ₹17.70 at Groww (our calculation from their published rates).
What DP charge do Dhan and Groww take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹14.75 at Dhan; ₹23.60 at Groww (our calculation). It is charged on each sale from your demat account.