Indiabulls SecuritiesSEBI INZ000036136
- Account opening
- ₹0
- Demat AMC
- ₹25/month + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹11 or 2.5%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹36.58Brokerage and DP with GST, ours
JainamSEBI INZ000198735
- Account opening
- ₹0
- Demat AMC
- Not stated
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 (DIY) or 0.4%
- Cost to sell ₹15,000 of IPO shares
- ₹44.84Brokerage and DP with GST, ours
Where Indiabulls Securities and Jainam differ
6 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Indiabulls Securities | Jainam |
|---|---|---|
| One mainboard lot, ₹15,000₹8.26 less at Indiabulls Securities | ₹36.58 | ₹44.84 |
| Two SME lots, ₹2,50,000₹27.14 less at Jainam | ₹71.98 | ₹44.84 |
| A year: 12 mainboard lots sold₹99.12 less at Indiabulls Securities | ₹438.96 | ₹538.08 |
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): ₹25 plus GST a month on the pricing page at Indiabulls Securities, not stated at Jainam.
- Equity delivery brokerage: 2.5% or ₹11 per executed order, whichever is lower at Indiabulls Securities, DIY: ₹20 per order at Jainam.
- DP charge on selling shares: ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold… at Indiabulls Securities, DIY: ₹18 per scrip at Jainam.
- Mainboard IPOs: Yes. The home page describes ASBA, where the money stays in your bank… at Indiabulls Securities, not stated at Jainam.
- SME IPOs: Yes, confirmed by Indiabulls Securities on 23 Oct 2026 at Indiabulls Securities, not stated at Jainam.
The same at both: account opening.
Indiabulls Securities vs Jainam: charges side by side
Differs 6 of 7 charges differ between Indiabulls Securities and Jainam. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Indiabulls Securities | Jainam |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 online |
| Demat maintenance (AMC) | ₹25 plus GST a month on the pricing page; ₹300 a year plus GST on the DP schedule | Not stated on the pages we checked |
| Apply for IPOs | ||
| Mainboard IPOs | Yes. The home page describes ASBA, where the money stays in your bank account until allotment | Not stated on the pages we checked |
| SME IPOs | Yes, confirmed by Indiabulls Securities on 23 Oct 2026 (not yet stated on its pricing page) | Not stated on the pages we checked |
| Sell your IPO shares | ||
| Equity delivery brokerage | 2.5% or ₹11 per executed order, whichever is lower | DIY: ₹20 per order; Premium: 0.4% |
| DP charge on selling shares | ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold through Indiabulls Securities (₹30 or 0.03% otherwise) | DIY: ₹18 per scrip; Premium: ₹25 per request plus GST |
| Registration | ||
| SEBI registration | INZ000036136 | INZ000198735 |
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 Indiabulls Securities and Jainam pages.
Indiabulls Securities and Jainam strengths and things worth checking
Indiabulls Securities
Strengths
- Flat ₹11 per order
- ₹0 account opening
- Fixed MTF rate
- SME IPOs
Worth checking
- Brokerage on delivery
₹11 per order on delivery, where some brokers charge ₹0.
- AMC from the start
₹25 plus GST a month (₹300 plus GST a year); the pricing page does not mention a free first year.
Jainam
Strengths
- Two plans
Worth checking
- Premium delivery is 0.4%
₹60 on a ₹15,000 sale on the Premium plan. Our calculator uses the DIY plan.
- DIY dealer orders cost ₹70
Plus ₹20 brokerage and GST.
Brokerage calculator: Indiabulls Securities vs Jainam
| Charge | Indiabulls Securities | Jainam |
|---|
Ours, with NSE rates. Change the trade to see what Indiabulls Securities and Jainam would each charge.
Other comparisons
Every comparison with Indiabulls Securities or Jainam, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Indiabulls Securities or Jainam?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹36.58 in broker charges at Indiabulls Securities and ₹44.84 at Jainam (our calculation). For two SME lots worth ₹2,50,000: Indiabulls Securities ₹71.98, Jainam ₹44.84 (our calculation, brokerage and DP charge with GST).
How much would the difference between Indiabulls Securities and Jainam be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Indiabulls Securities costs ₹99.12 less in broker charges (our calculation). Add the yearly AMC: Indiabulls Securities: ₹25 plus GST a month on the pricing page; Jainam: not stated.
Can I apply for SME IPOs on Indiabulls Securities and Jainam?
Indiabulls Securities lets you apply for SME IPOs; Jainam does not say so on the pages we checked.
What is the demat AMC at Indiabulls Securities and Jainam?
Indiabulls Securities: ₹25 plus GST a month on the pricing page. Jainam: not stated.
What brokerage do Indiabulls Securities and Jainam charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹12.98 at Indiabulls Securities and ₹23.60 at Jainam (our calculation from their published rates).