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
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 Groww and HDFC Securities (HDFC Sky) differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Groww | HDFC Securities (HDFC Sky) |
|---|---|---|
| One mainboard lot, ₹15,000₹5.90 less at Groww | ₹41.30 | ₹47.20 |
| Two SME lots, ₹2,50,000Same at both | ₹47.20 | ₹47.20 |
| A year: 12 mainboard lots sold₹70.80 less at Groww | ₹495.60 | ₹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): ₹0 at Groww, ₹0 for the first year, then ₹20 a month plus GST at HDFC Securities (HDFC Sky).
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww, ₹20 or 2.5% per order, whichever is lower at HDFC Securities (HDFC Sky).
- DP charge on selling shares: ₹3.50 depository at Groww, ₹20 per scrip at HDFC Securities (HDFC Sky).
The same at both: account opening, Mainboard IPOs and SME IPOs.
Groww vs HDFC Securities (HDFC Sky): charges side by side
Differs 4 of 7 charges differ between Groww and HDFC Securities (HDFC Sky). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Groww | HDFC Securities (HDFC Sky) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Free |
| Demat maintenance (AMC) | ₹0 | ₹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, in the Stocks tab of the app with a UPI mandate. The mandate request arrives within an hour or two | Yes, on HDFC Sky |
| SME IPOs | Yes, SME IPOs can be applied for on Groww | Yes. HDFC Sky says you can apply for SME IPOs in one click |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | ₹20 or 2.5% per order, whichever is lower |
| DP charge on selling shares | ₹3.50 depository (₹3.25 for women) plus ₹16.50 Groww per sell, plus GST; ₹0 when the debit value is under ₹100 | ₹20 per scrip (the support page does not say whether GST is extra; we add 18% in our calculation) |
| Registration | ||
| SEBI registration | INZ000301838 | INZ000186937 |
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 Groww and HDFC Securities (HDFC Sky) pages.
Groww and HDFC Securities (HDFC Sky) strengths and things worth checking
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.
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: Groww vs HDFC Securities (HDFC Sky)
| Charge | Groww | HDFC Securities (HDFC Sky) |
|---|
Ours, with NSE rates. Change the trade to see what Groww and HDFC Securities (HDFC Sky) would each charge.
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Every comparison with Groww or HDFC Securities (HDFC Sky), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Groww or HDFC Securities (HDFC Sky)?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹41.30 in broker charges at Groww and ₹47.20 at HDFC Securities (HDFC Sky) (our calculation). For two SME lots worth ₹2,50,000: Groww ₹47.20, HDFC Securities (HDFC Sky) ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Groww and HDFC Securities (HDFC Sky) be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Groww costs ₹70.80 less in broker charges (our calculation). Add the yearly AMC: Groww: ₹0; HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST.
Can I apply for SME IPOs on Groww and HDFC Securities (HDFC Sky)?
Both let you apply for SME IPOs.
What is the demat AMC at Groww and HDFC Securities (HDFC Sky)?
Groww: ₹0. HDFC Securities (HDFC Sky): ₹0 for the first year, then ₹20 a month plus GST.
What brokerage do Groww 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 ₹17.70 at Groww and ₹23.60 at HDFC Securities (HDFC Sky) (our calculation from their published rates).