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
Mirae Asset SharekhanSEBI INZ000171337
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹400/yr
- SME IPOs
- Not stated
- Delivery brokerage
- 0.30%
- Cost to sell ₹15,000 of IPO shares
- ₹53.10Brokerage and DP with GST, ours
Where Indiabulls Securities and Mirae Asset Sharekhan differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Indiabulls Securities | Mirae Asset Sharekhan |
|---|---|---|
| One mainboard lot, ₹15,000₹16.52 less at Indiabulls Securities | ₹36.58 | ₹53.10 |
| Two SME lots, ₹2,50,000₹813.02 less at Indiabulls Securities | ₹71.98 | ₹885.00 |
| A year: 12 mainboard lots sold₹198.24 less at Indiabulls Securities | ₹438.96 | ₹637.20 |
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, ₹400 a year, free for the first year at Mirae Asset Sharekhan.
- Equity delivery brokerage: 2.5% or ₹11 per executed order, whichever is lower at Indiabulls Securities, 0.30% of trade value at Mirae Asset Sharekhan.
- DP charge on selling shares: ₹20 or 0.02% of the value, whichever is higher, plus GST, when sold… at Indiabulls Securities, Nil when sold through Mirae Asset Sharekhan at Mirae Asset Sharekhan.
- SME IPOs: Yes, confirmed by Indiabulls Securities on 23 Oct 2026 at Indiabulls Securities, not stated at Mirae Asset Sharekhan.
The same at both: account opening and Mainboard IPOs.
Indiabulls Securities vs Mirae Asset Sharekhan: charges side by side
Differs 5 of 7 charges differ between Indiabulls Securities and Mirae Asset Sharekhan. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Indiabulls Securities | Mirae Asset Sharekhan |
|---|---|---|
| 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 | ₹400 a year, free for the first year |
| 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 | 0.30% of trade value (minimum 1 paisa a share) |
| 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) | Nil when sold through Mirae Asset Sharekhan |
| Registration | ||
| SEBI registration | INZ000036136 | INZ000171337 |
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 Mirae Asset Sharekhan pages.
Indiabulls Securities and Mirae Asset Sharekhan 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.
Mirae Asset Sharekhan
Strengths
- No DP charge on sales
- Free call and trade
- Research and branches
Worth checking
- Percentage brokerage on delivery
0.30% with no cap: ₹45 on a ₹15,000 sale.
- Options per lot
₹39 per lot each side.
- MTF at 18%
Margin trading interest is 18% a year.
Brokerage calculator: Indiabulls Securities vs Mirae Asset Sharekhan
Other comparisons
Every comparison with Indiabulls Securities or Mirae Asset Sharekhan, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Indiabulls Securities or Mirae Asset Sharekhan?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹36.58 in broker charges at Indiabulls Securities and ₹53.10 at Mirae Asset Sharekhan (our calculation). For two SME lots worth ₹2,50,000: Indiabulls Securities ₹71.98, Mirae Asset Sharekhan ₹885.00 (our calculation, brokerage and DP charge with GST).
How much would the difference between Indiabulls Securities and Mirae Asset Sharekhan be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Indiabulls Securities costs ₹198.24 less in broker charges (our calculation). Add the yearly AMC: Indiabulls Securities: ₹25 plus GST a month on the pricing page; Mirae Asset Sharekhan: ₹400 a year, free for the first year.
Can I apply for SME IPOs on Indiabulls Securities and Mirae Asset Sharekhan?
Indiabulls Securities lets you apply for SME IPOs; Mirae Asset Sharekhan does not say so on the pages we checked.
What is the demat AMC at Indiabulls Securities and Mirae Asset Sharekhan?
Indiabulls Securities: ₹25 plus GST a month on the pricing page. Mirae Asset Sharekhan: ₹400 a year, free for the first year.
What brokerage do Indiabulls Securities and Mirae Asset Sharekhan 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 ₹53.10 at Mirae Asset Sharekhan (our calculation from their published rates).