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
SAMCOSEBI INZ000002535
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹400/yr + taxes
- SME IPOs
- Not stated
- Delivery brokerage
- ₹20 cap
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Indiabulls Securities and SAMCO differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Indiabulls Securities | SAMCO |
|---|---|---|
| One mainboard lot, ₹15,000₹10.62 less at Indiabulls Securities | ₹36.58 | ₹47.20 |
| Two SME lots, ₹2,50,000₹24.78 less at SAMCO | ₹71.98 | ₹47.20 |
| A year: 12 mainboard lots sold₹127.44 less at Indiabulls Securities | ₹438.96 | ₹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): ₹25 plus GST a month on the pricing page at Indiabulls Securities, ₹0 in the first year, then ₹400 plus taxes a year for individuals at SAMCO.
- Equity delivery brokerage: 2.5% or ₹11 per executed order, whichever is lower at Indiabulls Securities, ₹20 per executed order or 2.5%, whichever is lower at SAMCO.
- DP charge on selling shares: ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold… at Indiabulls Securities, ₹20 plus taxes within SAMCO at SAMCO.
- SME IPOs: Yes, confirmed by Indiabulls Securities on 23 Oct 2026 at Indiabulls Securities, not stated at SAMCO.
The same at both: account opening and Mainboard IPOs.
Indiabulls Securities vs SAMCO: charges side by side
Differs 5 of 7 charges differ between Indiabulls Securities and SAMCO. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Indiabulls Securities | SAMCO |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹25 plus GST a month on the pricing page; ₹300 a year plus GST on the DP schedule | ₹0 in the first year, then ₹400 plus taxes a year for individuals |
| Apply for IPOs | ||
| Mainboard IPOs | Yes. The home page describes ASBA, where the money stays in your bank account until allotment | Yes |
| 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 | ₹20 per executed order or 2.5%, whichever is lower (the headline says 0.25% or ₹20) |
| 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) | ₹20 plus taxes within SAMCO; ₹25 or 0.02%, whichever is higher, plus taxes outside |
| Registration | ||
| SEBI registration | INZ000036136 | INZ000002535 |
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 SAMCO pages.
Indiabulls Securities and SAMCO 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.
SAMCO
Strengths
- ₹20 cap
Worth checking
- Two delivery rates on one page
The headline says 0.25% or ₹20 and the table says 2.5% or ₹20. Both cap at ₹20.
- AMC after year one
₹400 plus taxes a year.
- Dealer orders
₹50 plus taxes per order.
Brokerage calculator: Indiabulls Securities vs SAMCO
| Charge | Indiabulls Securities | SAMCO |
|---|
Ours, with NSE rates. Change the trade to see what Indiabulls Securities and SAMCO would each charge.
Other comparisons
Every comparison with Indiabulls Securities or SAMCO, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Indiabulls Securities or SAMCO?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹36.58 in broker charges at Indiabulls Securities and ₹47.20 at SAMCO (our calculation). For two SME lots worth ₹2,50,000: Indiabulls Securities ₹71.98, SAMCO ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Indiabulls Securities and SAMCO be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Indiabulls Securities costs ₹127.44 less in broker charges (our calculation). Add the yearly AMC: Indiabulls Securities: ₹25 plus GST a month on the pricing page; SAMCO: ₹0 in the first year, then ₹400 plus taxes a year for individuals.
Can I apply for SME IPOs on Indiabulls Securities and SAMCO?
Indiabulls Securities lets you apply for SME IPOs; SAMCO does not say so on the pages we checked.
What is the demat AMC at Indiabulls Securities and SAMCO?
Indiabulls Securities: ₹25 plus GST a month on the pricing page. SAMCO: ₹0 in the first year, then ₹400 plus taxes a year for individuals.
What brokerage do Indiabulls Securities and SAMCO 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 SAMCO (our calculation from their published rates).