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
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 IIFL Capital and Mirae Asset Sharekhan differ
4 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | IIFL Capital | Mirae Asset Sharekhan |
|---|---|---|
| One mainboard lot, ₹15,000₹20.65 less at Mirae Asset Sharekhan | ₹73.75 | ₹53.10 |
| Two SME lots, ₹2,50,000₹118.00 less at IIFL Capital | ₹767.00 | ₹885.00 |
| A year: 12 mainboard lots sold₹247.80 less at Mirae Asset Sharekhan | ₹885.00 | ₹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 in the first year, then ₹250 plus GST a year at IIFL Capital, ₹400 a year, free for the first year at Mirae Asset Sharekhan.
- Equity delivery brokerage: 0.25% at IIFL Capital, 0.30% of trade value at Mirae Asset Sharekhan.
- DP charge on selling shares: ₹25 plus GST per scrip at IIFL Capital, Nil when sold through Mirae Asset Sharekhan at Mirae Asset Sharekhan.
The same at both: account opening, Mainboard IPOs and SME IPOs.
IIFL Capital vs Mirae Asset Sharekhan: charges side by side
Differs 4 of 7 charges differ between IIFL Capital and Mirae Asset Sharekhan. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | IIFL Capital | Mirae Asset Sharekhan |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 in the first year, then ₹250 plus GST a year | ₹400 a year, free for the first year |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes |
| SME IPOs | Not stated on the pages we checked | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | 0.25% | 0.30% of trade value (minimum 1 paisa a share) |
| DP charge on selling shares | ₹25 plus GST per scrip | Nil when sold through Mirae Asset Sharekhan |
| Registration | ||
| SEBI registration | INZ000164132 | 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 IIFL Capital and Mirae Asset Sharekhan pages.
IIFL Capital and Mirae Asset Sharekhan 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.
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: IIFL Capital vs Mirae Asset Sharekhan
Other comparisons
Every comparison with IIFL Capital or Mirae Asset Sharekhan, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, IIFL Capital or Mirae Asset Sharekhan?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹53.10 in broker charges at Mirae Asset Sharekhan and ₹73.75 at IIFL Capital (our calculation). For two SME lots worth ₹2,50,000: IIFL Capital ₹767.00, Mirae Asset Sharekhan ₹885.00 (our calculation, brokerage and DP charge with GST).
How much would the difference between IIFL Capital and Mirae Asset Sharekhan be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Mirae Asset Sharekhan costs ₹247.80 less in broker charges (our calculation). Add the yearly AMC: IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year; Mirae Asset Sharekhan: ₹400 a year, free for the first year.
Can I apply for SME IPOs on IIFL Capital and Mirae Asset Sharekhan?
Neither says clearly on its pages that SME IPOs can be applied for.
What is the demat AMC at IIFL Capital and Mirae Asset Sharekhan?
IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year. Mirae Asset Sharekhan: ₹400 a year, free for the first year.
What brokerage do IIFL Capital 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 ₹44.25 at IIFL Capital and ₹53.10 at Mirae Asset Sharekhan (our calculation from their published rates).