GeojitSEBI INZ000318938
- Account opening
- ₹0
- Demat AMC
- Not stated
- SME IPOs
- Not stated
- Delivery brokerage
- 0.30%
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage 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 Geojit and Indiabulls Securities differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Geojit | Indiabulls Securities |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹40.12 less at Indiabulls Securities; a DP charge is not published | ₹53.10 brokerage; DP charge not published | ₹36.58 |
| Two SME lots, ₹2,50,000Brokerage ₹872.02 less at Indiabulls Securities; a DP charge is not published | ₹885.00 brokerage; DP charge not published | ₹71.98 |
| A year: 12 mainboard lots soldBrokerage ₹481.44 less at Indiabulls Securities; a DP charge is not published | ₹637.20 brokerage; DP charge not published | ₹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): not stated at Geojit, ₹25 plus GST a month on the pricing page at Indiabulls Securities.
- Equity delivery brokerage: 0.30% at Geojit, 2.5% or ₹11 per executed order, whichever is lower at Indiabulls Securities.
- DP charge on selling shares: not stated at Geojit, ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold… at Indiabulls Securities.
- SME IPOs: not stated at Geojit, Yes, confirmed by Indiabulls Securities on 23 Oct 2026 at Indiabulls Securities.
The same at both: account opening and Mainboard IPOs.
Geojit vs Indiabulls Securities: charges side by side
Differs 5 of 7 charges differ between Geojit and Indiabulls Securities. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Geojit | Indiabulls Securities |
|---|---|---|
| Open an account | ||
| Account opening | Nil | ₹0 |
| Demat maintenance (AMC) | Not stated on the pages we checked | ₹25 plus GST a month on the pricing page; ₹300 a year plus GST on the DP schedule |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | 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 | 0.30% | 2.5% or ₹11 per executed order, whichever is lower |
| DP charge on selling shares | Not stated on the pages we checked | ₹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 | INZ000318938 | 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 Geojit and Indiabulls Securities pages.
Geojit and Indiabulls Securities strengths and things worth checking
Geojit
Strengths
- Full-service support
Worth checking
- Percentage brokerage on delivery
0.30% with no cap: ₹45 on a ₹15,000 sale.
- AMC and DP charge not on the pricing page
Check them before you open an account.
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: Geojit vs Indiabulls Securities
| Charge | Geojit | Indiabulls Securities |
|---|
Ours, with NSE rates. Change the trade to see what Geojit and Indiabulls Securities would each charge.
Other comparisons
Every comparison with Geojit or Indiabulls Securities, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Geojit or Indiabulls Securities?
Geojit does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. On brokerage alone, one mainboard lot (₹15,000) costs ₹40.12 less at Indiabulls Securities (our calculation). For two SME lots worth ₹2,50,000: Geojit ₹885.00 brokerage; DP charge not published, Indiabulls Securities ₹71.98 (our calculation, brokerage and DP charge with GST).
How much would the difference between Geojit and Indiabulls Securities be over a year?
Not in full, because Geojit does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹481.44 less at Indiabulls Securities (our calculation).
Can I apply for SME IPOs on Geojit and Indiabulls Securities?
Indiabulls Securities lets you apply for SME IPOs; Geojit does not say so on the pages we checked.
What is the demat AMC at Geojit and Indiabulls Securities?
Geojit: not stated. Indiabulls Securities: ₹25 plus GST a month on the pricing page.
What brokerage do Geojit 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 ₹53.10 at Geojit and ₹12.98 at Indiabulls Securities (our calculation from their published rates).