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
SahiSEBI INZ000317632
- Account opening
- ₹0
- Demat AMC
- ₹0
- SME IPOs
- Not stated
- Delivery brokerage
- ₹10 or 0.05%, lower
- Cost to sell ₹15,000 of IPO shares
- ₹24.78Brokerage and DP with GST, ours
Where Indiabulls Securities and Sahi differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Indiabulls Securities | Sahi |
|---|---|---|
| One mainboard lot, ₹15,000₹11.80 less at Sahi | ₹36.58 | ₹24.78 |
| Two SME lots, ₹2,50,000₹44.25 less at Sahi | ₹71.98 | ₹27.73 |
| A year: 12 mainboard lots sold₹141.60 less at Sahi | ₹438.96 | ₹297.36 |
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, Free at Sahi.
- Equity delivery brokerage: 2.5% or ₹11 per executed order, whichever is lower at Indiabulls Securities, ₹10 or 0.05% per order, whichever is lower at Sahi.
- DP charge on selling shares: ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold… at Indiabulls Securities, ₹13.50 per company at Sahi.
- SME IPOs: Yes, confirmed by Indiabulls Securities on 23 Oct 2026 at Indiabulls Securities, not stated at Sahi.
The same at both: account opening and Mainboard IPOs.
Indiabulls Securities vs Sahi: charges side by side
Differs 5 of 7 charges differ between Indiabulls Securities and Sahi. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Indiabulls Securities | Sahi |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | Free |
| Demat maintenance (AMC) | ₹25 plus GST a month on the pricing page; ₹300 a year plus GST on the DP schedule | Free |
| Apply for IPOs | ||
| Mainboard IPOs | Yes. The home page describes ASBA, where the money stays in your bank account until allotment | Yes, free |
| 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 | ₹10 or 0.05% per order, whichever is lower |
| 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) | ₹13.50 per company (GST not stated; we add 18% in our calculation) |
| Registration | ||
| SEBI registration | INZ000036136 | INZ000317632 |
For other trading, equity intraday, Futures and Margin trading (MTF) interest differ too. Intraday, futures, call and trade and margin charges are on the Indiabulls Securities and Sahi pages.
Indiabulls Securities and Sahi 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.
Sahi
Strengths
- ₹10 cap
- ₹0 AMC and account opening
- IPOs free
Worth checking
- Newer broker
Registered with SEBI in 2024.
- DP charge
₹13.50 per sale.
Brokerage calculator: Indiabulls Securities vs Sahi
| Charge | Indiabulls Securities | Sahi |
|---|
Ours, with NSE rates. Change the trade to see what Indiabulls Securities and Sahi would each charge.
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Frequently asked questions
Which is cheaper for selling IPO shares, Indiabulls Securities or Sahi?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹24.78 in broker charges at Sahi and ₹36.58 at Indiabulls Securities (our calculation). For two SME lots worth ₹2,50,000: Indiabulls Securities ₹71.98, Sahi ₹27.73 (our calculation, brokerage and DP charge with GST).
How much would the difference between Indiabulls Securities and Sahi be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Sahi costs ₹141.60 less in broker charges (our calculation). Add the yearly AMC: Indiabulls Securities: ₹25 plus GST a month on the pricing page; Sahi: Free.
Can I apply for SME IPOs on Indiabulls Securities and Sahi?
Indiabulls Securities lets you apply for SME IPOs; Sahi does not say so on the pages we checked.
What is the demat AMC at Indiabulls Securities and Sahi?
Indiabulls Securities: ₹25 plus GST a month on the pricing page. Sahi: Free.
What brokerage do Indiabulls Securities and Sahi 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 ₹8.85 at Sahi (our calculation from their published rates).