Rupeezy vs Zerodha for IPO investors

Rupeezy vs Zerodha for IPO investors: 6 of the 7 charges we compare differ. Rupeezy does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. On brokerage alone, one mainboard lot (₹15,000) costs ₹17.70 less at Zerodha (our calculation). Zerodha lets you apply for SME IPOs; Rupeezy does not say so on the pages we checked. All figures are from each broker's own website, read 23 Oct 2026.

By IPO24by7 Research. Updated 23 Oct 2026.

RupeezySEBI INZ000187932

Account opening: ₹0
Demat AMC: ₹0
SME IPOs: Not stated
Delivery brokerage: 0.1%
Cost to sell ₹15,000 of IPO shares: Not publishedBrokerage 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 Rupeezy and Zerodha differ

6 of the 7 charges we compare differ for an IPO investor.

Cost to sell IPO shares (ours)	Rupeezy	Zerodha
One mainboard lot, ₹15,000Brokerage ₹17.70 less at Zerodha; a DP charge is not published	₹17.70 brokerage; DP charge not published	₹15.34
Two SME lots, ₹2,50,000Brokerage ₹295.00 less at Zerodha; a DP charge is not published	₹295.00 brokerage; DP charge not published	₹15.34
A year: 12 mainboard lots soldBrokerage ₹212.40 less at Zerodha; a DP charge is not published	₹212.40 brokerage; DP charge not published	₹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): Zero AMC for life for accounts opened after 15 Jun 2024 at Rupeezy, Free in the first year for resident individuals, then ₹300 a year plus… at Zerodha.
Equity delivery brokerage: 0.1% on buy and sell at Rupeezy, ₹0 at Zerodha.
DP charge on selling shares: not stated at Rupeezy, ₹13 plus GST per scrip at Zerodha.
Mainboard IPOs: not stated at Rupeezy, Yes, through Kite or Console with a UPI mandate at Zerodha.
SME IPOs: not stated at Rupeezy, Yes, NSE and BSE SME IPOs through UPI. Only one bid per SME IPO, and… at Zerodha.

The same at both: account opening.

Rupeezy vs Zerodha: charges side by side

Differs 6 of 7 charges differ between Rupeezy and Zerodha. Same charges are greyed. ₹0 free Not stated not on the broker's pages

Charge	Rupeezy	Zerodha
Open an account
Account opening	₹0	₹0 for individual accounts (₹500 for NRI, partnership, LLP and corporate accounts)
Demat maintenance (AMC)	Zero AMC for life for accounts opened after 15 Jun 2024	Free in the first year for resident individuals, then ₹300 a year plus GST, charged quarterly
Apply for IPOs
Mainboard IPOs	Not stated on the pages we checked	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	0.1% on buy and sell	₹0
DP charge on selling shares	Not stated for market sales (₹25 for off-market transfers)	₹13 plus GST per scrip (₹3.50 CDSL, ₹9.50 Zerodha); ₹15.34 with GST
Registration
SEBI registration	INZ000187932	INZ000031633

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 Rupeezy and Zerodha pages.

Rupeezy and Zerodha strengths and things worth checking

Rupeezy

Strengths

Zero AMC
Lower MTF

Worth checking

Delivery has no cap
0.1% on each side: ₹15 on a ₹15,000 sale, more on bigger ones.
DP charge on market sales not stated
Check it before you sell IPO shares.

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: Rupeezy vs Zerodha

Charge	Rupeezy	Zerodha

Ours, with NSE rates. Change the trade to see what Rupeezy and Zerodha would each charge.

Other comparisons

Every comparison with Rupeezy or Zerodha, or pick any two brokers.

Frequently asked questions

Which is cheaper for selling IPO shares, Rupeezy or Zerodha?

Rupeezy does not publish its DP charge, so the full cost of selling IPO shares cannot be compared. On brokerage alone, one mainboard lot (₹15,000) costs ₹17.70 less at Zerodha (our calculation). For two SME lots worth ₹2,50,000: Rupeezy ₹295.00 brokerage; DP charge not published, Zerodha ₹15.34 (our calculation, brokerage and DP charge with GST).

How much would the difference between Rupeezy and Zerodha be over a year?

Not in full, because Rupeezy does not publish its DP charge. On brokerage alone, 12 mainboard lots of ₹15,000 cost ₹212.40 less at Zerodha (our calculation).

Can I apply for SME IPOs on Rupeezy and Zerodha?

Zerodha lets you apply for SME IPOs; Rupeezy does not say so on the pages we checked.

What is the demat AMC at Rupeezy and Zerodha?

Rupeezy: Zero AMC for life for accounts opened after 15 Jun 2024. Zerodha: Free in the first year for resident individuals, then ₹300 a year plus….

What brokerage do Rupeezy 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 ₹17.70 at Rupeezy and ₹0.00 at Zerodha (our calculation from their published rates).