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
PhonePe Invest (Share.Market)SEBI INZ000302639
- Account opening
- Not stated
- Demat AMC
- Not stated
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 or 0.05%, lower
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where Groww and PhonePe Invest (Share.Market) differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Groww | PhonePe Invest (Share.Market) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹8.85 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹41.30 | ₹8.85 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Same brokerage at both; a DP charge is not published | ₹47.20 | ₹23.60 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹106.20 less at PhonePe Invest (Share.Market); a DP charge is not published | ₹495.60 | ₹106.20 brokerage; DP charge 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, not stated at PhonePe Invest (Share.Market).
- Demat maintenance (AMC): ₹0 at Groww, not stated at PhonePe Invest (Share.Market).
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww, ₹20 or 0.05% per executed order, whichever is lower at PhonePe Invest (Share.Market).
- DP charge on selling shares: ₹3.50 depository at Groww, not stated at PhonePe Invest (Share.Market).
- SME IPOs: Yes, SME IPOs can be applied for on Groww at Groww, not stated at PhonePe Invest (Share.Market).
The same at both: mainboard IPOs.
Groww vs PhonePe Invest (Share.Market): charges side by side
Differs 6 of 7 charges differ between Groww and PhonePe Invest (Share.Market). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Groww | PhonePe Invest (Share.Market) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Not stated on the pages we checked |
| Demat maintenance (AMC) | ₹0 | Not stated on the pages we checked |
| 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 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 | ₹20 or 0.05% per executed 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 | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000301838 | INZ000302639 |
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 PhonePe Invest (Share.Market) pages.
Groww and PhonePe Invest (Share.Market) 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.
PhonePe Invest (Share.Market)
Strengths
- Low cap on small orders
Worth checking
- Account and DP charges not on the tariff page
The tariff page we read lists no account opening, AMC or DP charge.
- Dealer orders
₹30 extra per order for call and trade or auto square-off.
Brokerage calculator: Groww vs PhonePe Invest (Share.Market)
| Charge | Groww | PhonePe Invest (Share.Market) |
|---|
Ours, with NSE rates. Change the trade to see what Groww and PhonePe Invest (Share.Market) would each charge.
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Every comparison with Groww or PhonePe Invest (Share.Market), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Groww or PhonePe Invest (Share.Market)?
PhonePe Invest (Share.Market) 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 ₹8.85 less at PhonePe Invest (Share.Market) (our calculation). For two SME lots worth ₹2,50,000: Groww ₹47.20, PhonePe Invest (Share.Market) ₹23.60 brokerage; DP charge not published (our calculation, brokerage and DP charge with GST).
How much would the difference between Groww and PhonePe Invest (Share.Market) be over a year?
Not in full, because PhonePe Invest (Share.Market) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹106.20 less at PhonePe Invest (Share.Market) (our calculation).
Can I apply for SME IPOs on Groww and PhonePe Invest (Share.Market)?
Groww lets you apply for SME IPOs; PhonePe Invest (Share.Market) does not say so on the pages we checked.
Is account opening free at Groww and PhonePe Invest (Share.Market)?
Groww: ₹0. PhonePe Invest (Share.Market): not stated.
What is the demat AMC at Groww and PhonePe Invest (Share.Market)?
Groww: ₹0. PhonePe Invest (Share.Market): not stated.