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
m.StockSEBI INZ000163138
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹10/order
- Cost to sell ₹15,000 of IPO shares
- ₹33.04Brokerage and DP with GST, ours
Where Groww and m.Stock differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Groww | m.Stock |
|---|---|---|
| One mainboard lot, ₹15,000₹8.26 less at m.Stock | ₹41.30 | ₹33.04 |
| Two SME lots, ₹2,50,000₹14.16 less at m.Stock | ₹47.20 | ₹33.04 |
| A year: 12 mainboard lots sold₹99.12 less at m.Stock | ₹495.60 | ₹396.48 |
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, ₹10 per order at m.Stock.
- DP charge on selling shares: ₹3.50 depository at Groww, ₹18 plus GST per debit transaction at m.Stock.
- SME IPOs: Yes, SME IPOs can be applied for on Groww at Groww, not stated at m.Stock.
The same at both: account opening, Demat maintenance (AMC) and Mainboard IPOs.
Groww vs m.Stock: charges side by side
Differs 4 of 7 charges differ between Groww and m.Stock. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Groww | m.Stock |
|---|---|---|
| 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, with a two-click application |
| SME IPOs | Yes, SME IPOs can be applied for on Groww | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | ₹10 per order |
| 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 plus GST per debit transaction |
| Registration | ||
| SEBI registration | INZ000301838 | INZ000163138 |
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 m.Stock pages.
Groww and m.Stock 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.
m.Stock
Strengths
- ₹10 per order
- ₹0 AMC
- Free call and trade
Worth checking
- System square-off is costly
₹100 plus GST per order if m.Stock squares off your intraday position.
- DP charge
₹18 plus GST per sale.
Brokerage calculator: Groww vs m.Stock
| Charge | Groww | m.Stock |
|---|
Ours, with NSE rates. Change the trade to see what Groww and m.Stock would each charge.
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Every comparison with Groww or m.Stock, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Groww or m.Stock?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹33.04 in broker charges at m.Stock and ₹41.30 at Groww (our calculation). For two SME lots worth ₹2,50,000: Groww ₹47.20, m.Stock ₹33.04 (our calculation, brokerage and DP charge with GST).
How much would the difference between Groww and m.Stock be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, m.Stock costs ₹99.12 less in broker charges (our calculation). Add the yearly AMC: Groww: ₹0; m.Stock: ₹0.
Can I apply for SME IPOs on Groww and m.Stock?
Groww lets you apply for SME IPOs; m.Stock does not say so on the pages we checked.
What brokerage do Groww and m.Stock 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 ₹11.80 at m.Stock (our calculation from their published rates).
What DP charge do Groww and m.Stock take when I sell IPO shares?
For one sale of ₹15,000, with GST: ₹23.60 at Groww; ₹21.24 at m.Stock (our calculation). It is charged on each sale from your demat account.