IIFL CapitalSEBI INZ000164132
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹250/yr + GST
- SME IPOs
- Not stated
- Delivery brokerage
- 0.25%
- Cost to sell ₹15,000 of IPO shares
- ₹73.75Brokerage and DP with GST, ours
Kotak Securities (Kotak Neo)SEBI INZ000200137
- Account opening
- ₹0
- Demat AMC
- Not stated
- SME IPOs
- Yes
- Delivery brokerage
- 0.20%
- Cost to sell ₹15,000 of IPO shares
- Not publishedBrokerage and DP with GST, ours
Where IIFL Capital and Kotak Securities (Kotak Neo) differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | IIFL Capital | Kotak Securities (Kotak Neo) |
|---|---|---|
| One mainboard lot, ₹15,000Brokerage ₹8.85 less at Kotak Securities (Kotak Neo); a DP charge is not published | ₹73.75 | ₹35.40 brokerage; DP charge not published |
| Two SME lots, ₹2,50,000Brokerage ₹147.50 less at Kotak Securities (Kotak Neo); a DP charge is not published | ₹767.00 | ₹590.00 brokerage; DP charge not published |
| A year: 12 mainboard lots soldBrokerage ₹106.20 less at Kotak Securities (Kotak Neo); a DP charge is not published | ₹885.00 | ₹424.80 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.
- Demat maintenance (AMC): ₹0 in the first year, then ₹250 plus GST a year at IIFL Capital, ₹0 for a basic services demat account at Kotak Securities (Kotak Neo).
- Equity delivery brokerage: 0.25% at IIFL Capital, 0.20% at Kotak Securities (Kotak Neo).
- DP charge on selling shares: ₹25 plus GST per scrip at IIFL Capital, not stated at Kotak Securities (Kotak Neo).
- SME IPOs: not stated at IIFL Capital, Yes. Kotak Neo says SME IPOs can be applied for in its current IPO… at Kotak Securities (Kotak Neo).
The same at both: account opening and Mainboard IPOs.
IIFL Capital vs Kotak Securities (Kotak Neo): charges side by side
Differs 5 of 7 charges differ between IIFL Capital and Kotak Securities (Kotak Neo). Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | IIFL Capital | Kotak Securities (Kotak Neo) |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 on the Trade Free plan (₹99 one time on Trade Free Youth, for under 30s) |
| Demat maintenance (AMC) | ₹0 in the first year, then ₹250 plus GST a year | ₹0 for a basic services demat account (BSDA) with holdings up to ₹4 lakh; other AMC not stated on the pricing page |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes, on Kotak Neo with UPI |
| SME IPOs | Not stated on the pages we checked | Yes. Kotak Neo says SME IPOs can be applied for in its current IPO section with UPI |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.25% | 0.20% (Trade Free Pro: 0.10%; Trade Free Youth: ₹0) |
| DP charge on selling shares | ₹25 plus GST per scrip | Not stated on the pages we checked |
| Registration | ||
| SEBI registration | INZ000164132 | INZ000200137 |
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 IIFL Capital and Kotak Securities (Kotak Neo) pages.
IIFL Capital and Kotak Securities (Kotak Neo) strengths and things worth checking
IIFL Capital
Strengths
- Full-service support
- Lower AMC
Worth checking
- Percentage brokerage on delivery
0.25% with no cap: ₹37.50 on a ₹15,000 sale.
- DP charge
₹25 plus GST per sale.
- System square-off
₹100 per order.
Kotak Securities (Kotak Neo)
Strengths
- ₹10 intraday and F&O
- SME IPOs
- Lower MTF on Pro
Worth checking
- Delivery is a percentage
0.20% on the default plan with no cap stated: ₹30 on a ₹15,000 sale.
- DP charge and AMC not on the pricing page
Check them before you sell IPO shares.
Brokerage calculator: IIFL Capital vs Kotak Securities (Kotak Neo)
| Charge | IIFL Capital | Kotak Securities (Kotak Neo) |
|---|
Ours, with NSE rates. Change the trade to see what IIFL Capital and Kotak Securities (Kotak Neo) would each charge.
Other comparisons
Every comparison with IIFL Capital or Kotak Securities (Kotak Neo), or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, IIFL Capital or Kotak Securities (Kotak Neo)?
Kotak Securities (Kotak Neo) 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 Kotak Securities (Kotak Neo) (our calculation). For two SME lots worth ₹2,50,000: IIFL Capital ₹767.00, Kotak Securities (Kotak Neo) ₹590.00 brokerage; DP charge not published (our calculation, brokerage and DP charge with GST).
How much would the difference between IIFL Capital and Kotak Securities (Kotak Neo) be over a year?
Not in full, because Kotak Securities (Kotak Neo) does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹106.20 less at Kotak Securities (Kotak Neo) (our calculation).
Can I apply for SME IPOs on IIFL Capital and Kotak Securities (Kotak Neo)?
Kotak Securities (Kotak Neo) lets you apply for SME IPOs; IIFL Capital does not say so on the pages we checked.
What is the demat AMC at IIFL Capital and Kotak Securities (Kotak Neo)?
IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year. Kotak Securities (Kotak Neo): ₹0 for a basic services demat account.
What brokerage do IIFL Capital and Kotak Securities (Kotak Neo) charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹44.25 at IIFL Capital and ₹35.40 at Kotak Securities (Kotak Neo) (our calculation from their published rates).