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
INDmoneySEBI INZ000305337
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- No
- Delivery brokerage
- ₹20 or 0.1%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹39.53Brokerage and DP with GST, ours
Where Groww and INDmoney differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Groww | INDmoney |
|---|---|---|
| One mainboard lot, ₹15,000₹1.77 less at INDmoney | ₹41.30 | ₹39.53 |
| Two SME lots, ₹2,50,000₹1.77 less at INDmoney | ₹47.20 | ₹45.43 |
| A year: 12 mainboard lots sold₹21.24 less at INDmoney | ₹495.60 | ₹474.36 |
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: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww, 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 at INDmoney.
- DP charge on selling shares: ₹3.50 depository at Groww, ₹18.50 plus GST per ISIN at INDmoney.
- SME IPOs: Yes, SME IPOs can be applied for on Groww at Groww, Not yet. INDmoney says it does not currently support SME IPOs at INDmoney.
The same at both: account opening, Demat maintenance (AMC) and Mainboard IPOs.
Groww vs INDmoney: charges side by side
Differs 4 of 7 charges differ between Groww and INDmoney. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Groww | INDmoney |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 | ₹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 |
| SME IPOs | Yes, SME IPOs can be applied for on Groww | Not yet. INDmoney says it does not currently support SME IPOs |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | 0.1% or ₹20 per executed order, whichever is lower, minimum ₹2 |
| 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 | ₹18.50 plus GST per ISIN (₹3.50 CDSL and ₹15 INDstocks; ₹3.25 and ₹15.25 for women) |
| Registration | ||
| SEBI registration | INZ000301838 | INZ000305337 |
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 Groww and INDmoney pages.
Groww and INDmoney 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.
INDmoney
Strengths
- ₹0 AMC and account opening
- Low minimum brokerage
Worth checking
- Desk orders are expensive
₹500 per order through the trading desk.
- DP charge
₹18.50 plus GST per sale.
- No SME IPOs yet
INDmoney says SME IPO applications are not supported at the moment.
Brokerage calculator: Groww vs INDmoney
| Charge | Groww | INDmoney |
|---|
Ours, with NSE rates. Change the trade to see what Groww and INDmoney would each charge.
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Every comparison with Groww or INDmoney, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Groww or INDmoney?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹39.53 in broker charges at INDmoney and ₹41.30 at Groww (our calculation). For two SME lots worth ₹2,50,000: Groww ₹47.20, INDmoney ₹45.43 (our calculation, brokerage and DP charge with GST).
How much would the difference between Groww and INDmoney be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, INDmoney costs ₹21.24 less in broker charges (our calculation). Add the yearly AMC: Groww: ₹0; INDmoney: ₹0.
Can I apply for SME IPOs on Groww and INDmoney?
Groww lets you apply for SME IPOs; INDmoney does not support them yet.
What brokerage do Groww and INDmoney 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 ₹17.70 at INDmoney (our calculation from their published rates).
What DP charge do Groww and INDmoney take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹23.60 at Groww; ₹21.83 at INDmoney (our calculation). It is charged on each sale from your demat account.