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
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 IIFL Capital and Zerodha differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | IIFL Capital | Zerodha |
|---|---|---|
| One mainboard lot, ₹15,000₹58.41 less at Zerodha | ₹73.75 | ₹15.34 |
| Two SME lots, ₹2,50,000₹751.66 less at Zerodha | ₹767.00 | ₹15.34 |
| A year: 12 mainboard lots sold₹700.92 less at Zerodha | ₹885.00 | ₹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 in the first year, then ₹250 plus GST a year at IIFL Capital, Free in the first year for resident individuals, then ₹300 a year plus… at Zerodha.
- Equity delivery brokerage: 0.25% at IIFL Capital, ₹0 at Zerodha.
- DP charge on selling shares: ₹25 plus GST per scrip at IIFL Capital, ₹13 plus GST per scrip at Zerodha.
- SME IPOs: not stated at IIFL Capital, Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and… at Zerodha.
The same at both: account opening and Mainboard IPOs.
IIFL Capital vs Zerodha: charges side by side
Differs 5 of 7 charges differ between IIFL Capital and Zerodha. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | IIFL Capital | Zerodha |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 for individual accounts (₹500 for NRI, partnership, LLP and corporate accounts) |
| Demat maintenance (AMC) | ₹0 in the first year, then ₹250 plus GST a year | Free in the first year for resident individuals, then ₹300 a year plus GST, charged quarterly |
| Apply for IPOs | ||
| Mainboard IPOs | Yes | Yes, through Kite or Console with a UPI mandate |
| SME IPOs | Not stated on the pages we checked | 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 | 0.25% | ₹0 |
| DP charge on selling shares | ₹25 plus GST per scrip | ₹13 plus GST per scrip (₹3.50 CDSL, ₹9.50 Zerodha); ₹15.34 with GST |
| Registration | ||
| SEBI registration | INZ000164132 | INZ000031633 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the IIFL Capital and Zerodha pages.
IIFL Capital and Zerodha 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.
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: IIFL Capital vs Zerodha
| Charge | IIFL Capital | Zerodha |
|---|
Ours, with NSE rates. Change the trade to see what IIFL Capital and Zerodha would each charge.
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Every comparison with IIFL Capital or Zerodha, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, IIFL Capital or Zerodha?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹15.34 in broker charges at Zerodha and ₹73.75 at IIFL Capital (our calculation). For two SME lots worth ₹2,50,000: IIFL Capital ₹767.00, Zerodha ₹15.34 (our calculation, brokerage and DP charge with GST).
How much would the difference between IIFL Capital and Zerodha be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Zerodha costs ₹700.92 less in broker charges (our calculation). Add the yearly AMC: IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year; Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
Can I apply for SME IPOs on IIFL Capital and Zerodha?
Zerodha 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 Zerodha?
IIFL Capital: ₹0 in the first year, then ₹250 plus GST a year. Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….
What brokerage do IIFL Capital 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 ₹44.25 at IIFL Capital and ₹0.00 at Zerodha (our calculation from their published rates).