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
ICICI DirectSEBI INZ000183631
- Account opening
- ₹0 to ₹975
- Demat AMC
- ₹0 year 1, then ₹700/yr
- SME IPOs
- Yes
- Delivery brokerage
- Depends on plan
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where Groww and ICICI Direct differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Groww | ICICI Direct |
|---|---|---|
| One mainboard lot, ₹15,000Difference not worked out: a charge is not published | ₹41.30 | Not published |
| Two SME lots, ₹2,50,000Difference not worked out: a charge is not published | ₹47.20 | Not published |
| A year: 12 mainboard lots soldDifference not worked out: a charge is not published | ₹495.60 | Not published |
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.
- Account opening: ₹0 at Groww, ₹0 to ₹975, depending on the account type at ICICI Direct.
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww, Depends on the plan at ICICI Direct.
- DP charge on selling shares: ₹3.50 depository at Groww, not stated at ICICI Direct.
The same at both: demat maintenance (AMC), Mainboard IPOs and SME IPOs.
Groww vs ICICI Direct: charges side by side
Differs 4 of 7 charges differ between Groww and ICICI Direct. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Groww | ICICI Direct |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 to ₹975, depending on the account type |
| Demat maintenance (AMC) | ₹0 | ₹0 in the first year, ₹700 plus taxes from the second year |
| 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 ICICI Direct with UPI, or through ICICI Bank net banking (ASBA) |
| SME IPOs | Yes, SME IPOs can be applied for on Groww | Yes, the SME IPO page links to applying through UPI |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | Depends on the plan; not stated on the page we checked. Prime plans say "as low as 0.07%" |
| 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 | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000301838 | INZ000183631 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Groww and ICICI Direct pages.
Groww and ICICI Direct 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.
ICICI Direct
Strengths
- Bank-linked
- ₹0 futures brokerage on Neo
Worth checking
- Higher AMC
₹700 plus taxes a year from the second year.
- Account opening fee
Up to ₹975, depending on the account type.
- Delivery and DP charges not on the page
Ask ICICI Direct for the delivery brokerage and DP charge on your plan before you sell IPO shares.
Brokerage calculator: Groww vs ICICI Direct
| Charge | Groww | ICICI Direct |
|---|
Ours, with NSE rates. Change the trade to see what Groww and ICICI Direct would each charge.
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Frequently asked questions
Which is cheaper for selling IPO shares, Groww or ICICI Direct?
ICICI Direct does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. For two SME lots worth ₹2,50,000: Groww ₹47.20, ICICI Direct Not published (our calculation, brokerage and DP charge with GST).
How much would the difference between Groww and ICICI Direct be over a year?
Not in full, because ICICI Direct does not publish its DP charge.
Can I apply for SME IPOs on Groww and ICICI Direct?
Both let you apply for SME IPOs.
Is account opening free at Groww and ICICI Direct?
Groww: ₹0. ICICI Direct: ₹0 to ₹975, depending on the account type.
What brokerage do Groww and ICICI Direct 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 not published at ICICI Direct (our calculation from their published rates).