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
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 IIFL Capital and Upstox differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | IIFL Capital | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000₹26.55 less at Upstox | ₹73.75 | ₹47.20 |
| Two SME lots, ₹2,50,000₹719.80 less at Upstox | ₹767.00 | ₹47.20 |
| A year: 12 mainboard lots sold₹318.60 less at Upstox | ₹885.00 | ₹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 in the first year, then ₹250 plus GST a year at IIFL Capital, ₹0 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- Equity delivery brokerage: 0.25% at IIFL Capital, ₹20 per executed order at Upstox.
- DP charge on selling shares: ₹25 plus GST per scrip at IIFL Capital, ₹20 plus GST per scrip per day at Upstox.
- SME IPOs: not stated at IIFL Capital, Yes, using the SME IPO filter in the IPO section. SME bids need a… at Upstox.
The same at both: account opening and Mainboard IPOs.
IIFL Capital vs Upstox: charges side by side
Differs 5 of 7 charges differ between IIFL Capital and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | IIFL Capital | Upstox |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹0 in the first year, then ₹250 plus GST a year | ₹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 | Yes, in the IPO section of the app with a UPI mandate |
| SME IPOs | Not stated on the pages we checked | 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 | 0.25% | ₹20 per executed order |
| DP charge on selling shares | ₹25 plus GST per scrip | ₹20 plus GST per scrip per day (₹3.50 CDSL and ₹16.50 Upstox; ₹3.25 and ₹16.75 for women) |
| Registration | ||
| SEBI registration | INZ000164132 | INZ000315837 |
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 Upstox pages.
IIFL Capital and Upstox 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.
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: IIFL Capital vs Upstox
| Charge | IIFL Capital | Upstox |
|---|
Ours, with NSE rates. Change the trade to see what IIFL Capital and Upstox would each charge.
Other comparisons
Every comparison with IIFL Capital or Upstox, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, IIFL Capital or Upstox?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹47.20 in broker charges at Upstox and ₹73.75 at IIFL Capital (our calculation). For two SME lots worth ₹2,50,000: IIFL Capital ₹767.00, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between IIFL Capital and Upstox be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Upstox costs ₹318.60 less in broker charges (our calculation). Add the yearly AMC: IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year; Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
Can I apply for SME IPOs on IIFL Capital and Upstox?
Upstox 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 Upstox?
IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
What brokerage do IIFL Capital 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 ₹44.25 at IIFL Capital and ₹23.60 at Upstox (our calculation from their published rates).