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
UpstoxSEBI INZ000315837
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Groww and Upstox differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Groww | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000₹5.90 less at Groww | ₹41.30 | ₹47.20 |
| Two SME lots, ₹2,50,000Same at both | ₹47.20 | ₹47.20 |
| A year: 12 mainboard lots sold₹70.80 less at Groww | ₹495.60 | ₹566.40 |
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, ₹0 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww, ₹20 per executed order at Upstox.
- DP charge on selling shares: ₹3.50 depository at Groww, ₹20 plus GST per scrip per day at Upstox.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Groww vs Upstox: charges side by side
Differs 4 of 7 charges differ between Groww and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Groww | Upstox |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 | ₹0 in the first year for new customers, then ₹300 plus GST a year (BSDA accounts have separate terms) |
| 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, in the IPO section of the app with a UPI mandate |
| SME IPOs | Yes, SME IPOs can be applied for on Groww | Yes, using the SME IPO filter in the IPO section. SME bids need a price; cut-off is not allowed |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | ₹20 per executed 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 | ₹20 plus GST per scrip per day (₹3.50 CDSL and ₹16.50 Upstox; ₹3.25 and ₹16.75 for women) |
| Registration | ||
| SEBI registration | INZ000301838 | INZ000315837 |
For other trading, futures, Call and trade and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Groww and Upstox pages.
Groww and Upstox 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.
Upstox
Strengths
- Zero commission on IPOs
- ₹0 account opening
- SME IPOs in the app
Worth checking
- Flat ₹20 on delivery
Even a small sale of IPO shares costs ₹20 brokerage plus a ₹20 plus GST DP charge.
- Dealer orders cost more
Call and trade and auto square-off cost ₹75 plus GST each.
- AMC after the first year
₹300 plus GST a year.
Brokerage calculator: Groww vs Upstox
| Charge | Groww | Upstox |
|---|
Ours, with NSE rates. Change the trade to see what Groww and Upstox would each charge.
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Every comparison with Groww or Upstox, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Groww or Upstox?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹41.30 in broker charges at Groww and ₹47.20 at Upstox (our calculation). For two SME lots worth ₹2,50,000: Groww ₹47.20, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Groww and Upstox be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Groww costs ₹70.80 less in broker charges (our calculation). Add the yearly AMC: Groww: ₹0; Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
Can I apply for SME IPOs on Groww and Upstox?
Both let you apply for SME IPOs.
What is the demat AMC at Groww and Upstox?
Groww: ₹0. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
What brokerage do Groww and Upstox 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 ₹23.60 at Upstox (our calculation from their published rates).