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
Mirae Asset SharekhanSEBI INZ000171337
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹400/yr
- SME IPOs
- Not stated
- Delivery brokerage
- 0.30%
- Cost to sell ₹15,000 of IPO shares
- ₹53.10Brokerage and DP with GST, ours
Where Groww and Mirae Asset Sharekhan differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Groww | Mirae Asset Sharekhan |
|---|---|---|
| One mainboard lot, ₹15,000₹11.80 less at Groww | ₹41.30 | ₹53.10 |
| Two SME lots, ₹2,50,000₹837.80 less at Groww | ₹47.20 | ₹885.00 |
| A year: 12 mainboard lots sold₹141.60 less at Groww | ₹495.60 | ₹637.20 |
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, ₹400 a year, free for the first year at Mirae Asset Sharekhan.
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww, 0.30% of trade value at Mirae Asset Sharekhan.
- DP charge on selling shares: ₹3.50 depository at Groww, Nil when sold through Mirae Asset Sharekhan at Mirae Asset Sharekhan.
- SME IPOs: Yes, SME IPOs can be applied for on Groww at Groww, not stated at Mirae Asset Sharekhan.
The same at both: account opening and Mainboard IPOs.
Groww vs Mirae Asset Sharekhan: charges side by side
Differs 5 of 7 charges differ between Groww and Mirae Asset Sharekhan. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Groww | Mirae Asset Sharekhan |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 | ₹400 a year, free for the first 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 |
| 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 | 0.30% of trade value (minimum 1 paisa a share) |
| 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 | Nil when sold through Mirae Asset Sharekhan |
| Registration | ||
| SEBI registration | INZ000301838 | INZ000171337 |
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 Mirae Asset Sharekhan pages.
Groww and Mirae Asset Sharekhan 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.
Mirae Asset Sharekhan
Strengths
- No DP charge on sales
- Free call and trade
- Research and branches
Worth checking
- Percentage brokerage on delivery
0.30% with no cap: ₹45 on a ₹15,000 sale.
- Options per lot
₹39 per lot each side.
- MTF at 18%
Margin trading interest is 18% a year.
Brokerage calculator: Groww vs Mirae Asset Sharekhan
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Frequently asked questions
Which is cheaper for selling IPO shares, Groww or Mirae Asset Sharekhan?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹41.30 in broker charges at Groww and ₹53.10 at Mirae Asset Sharekhan (our calculation). For two SME lots worth ₹2,50,000: Groww ₹47.20, Mirae Asset Sharekhan ₹885.00 (our calculation, brokerage and DP charge with GST).
How much would the difference between Groww and Mirae Asset Sharekhan be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Groww costs ₹141.60 less in broker charges (our calculation). Add the yearly AMC: Groww: ₹0; Mirae Asset Sharekhan: ₹400 a year, free for the first year.
Can I apply for SME IPOs on Groww and Mirae Asset Sharekhan?
Groww lets you apply for SME IPOs; Mirae Asset Sharekhan does not say so on the pages we checked.
What is the demat AMC at Groww and Mirae Asset Sharekhan?
Groww: ₹0. Mirae Asset Sharekhan: ₹400 a year, free for the first year.
What brokerage do Groww and Mirae Asset Sharekhan 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 ₹53.10 at Mirae Asset Sharekhan (our calculation from their published rates).