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
ZerodhaSEBI INZ000031633
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹0
- Cost to sell ₹15,000 of IPO shares
- ₹15.34Brokerage and DP with GST, ours
Where Groww and Zerodha differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Groww | Zerodha |
|---|---|---|
| One mainboard lot, ₹15,000₹25.96 less at Zerodha | ₹41.30 | ₹15.34 |
| Two SME lots, ₹2,50,000₹31.86 less at Zerodha | ₹47.20 | ₹15.34 |
| A year: 12 mainboard lots sold₹311.52 less at Zerodha | ₹495.60 | ₹184.08 |
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, Free in the first year for resident individuals, then ₹300 a year plus… at Zerodha.
- Equity delivery brokerage: ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 at Groww, ₹0 at Zerodha.
- DP charge on selling shares: ₹3.50 depository at Groww, ₹13 plus GST per scrip at Zerodha.
The same at both: account opening, Mainboard IPOs and SME IPOs.
Groww vs Zerodha: charges side by side
Differs 4 of 7 charges differ between Groww and Zerodha. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Groww | Zerodha |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 for individual accounts (₹500 for NRI, partnership, LLP and corporate accounts) |
| Demat maintenance (AMC) | ₹0 | Free in the first year for resident individuals, then ₹300 a year plus GST, charged quarterly |
| 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, through Kite or Console with a UPI mandate |
| SME IPOs | Yes, SME IPOs can be applied for on Groww | Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and no net banking fallback if the UPI payment fails |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹20 or 0.1% per executed order, whichever is lower, minimum ₹5 | ₹0 |
| 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 | ₹13 plus GST per scrip (₹3.50 CDSL, ₹9.50 Zerodha); ₹15.34 with GST |
| Registration | ||
| SEBI registration | INZ000301838 | INZ000031633 |
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 Zerodha pages.
Groww and Zerodha 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.
Zerodha
Strengths
- ₹0 brokerage on delivery
- Lower DP charge
- SME IPOs on both exchanges
Worth checking
- AMC after the first year
₹300 a year plus GST for a regular demat account.
- SME IPO limits
One bid per SME IPO, and if the UPI payment fails you cannot apply by net banking.
- Dealer orders cost extra
₹50 per order through call and trade or auto square-off.
Brokerage calculator: Groww vs Zerodha
| Charge | Groww | Zerodha |
|---|
Ours, with NSE rates. Change the trade to see what Groww and Zerodha would each charge.
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Every comparison with Groww or Zerodha, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Groww or Zerodha?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹15.34 in broker charges at Zerodha and ₹41.30 at Groww (our calculation). For two SME lots worth ₹2,50,000: Groww ₹47.20, Zerodha ₹15.34 (our calculation, brokerage and DP charge with GST).
How much would the difference between Groww and Zerodha be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Zerodha costs ₹311.52 less in broker charges (our calculation). Add the yearly AMC: Groww: ₹0; Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
Can I apply for SME IPOs on Groww and Zerodha?
Both let you apply for SME IPOs.
What is the demat AMC at Groww and Zerodha?
Groww: ₹0. Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
What brokerage do Groww and Zerodha 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 ₹0.00 at Zerodha (our calculation from their published rates).