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
UpstoxSEBI INZ000315837
- Account opening
- ₹0
- Demat AMC
- ₹0 year 1, then ₹300/yr + GST
- SME IPOs
- Yes
- Delivery brokerage
- ₹20/order
- Cost to sell ₹15,000 of IPO shares
- ₹47.20Brokerage and DP with GST, ours
Where Sahi and Upstox differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Sahi | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000₹22.42 less at Sahi | ₹24.78 | ₹47.20 |
| Two SME lots, ₹2,50,000₹19.47 less at Sahi | ₹27.73 | ₹47.20 |
| A year: 12 mainboard lots sold₹269.04 less at Sahi | ₹297.36 | ₹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): Free at Sahi, ₹0 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- Equity delivery brokerage: ₹10 or 0.05% per order, whichever is lower at Sahi, ₹20 per executed order at Upstox.
- DP charge on selling shares: ₹13.50 per company at Sahi, ₹20 plus GST per scrip per day at Upstox.
- SME IPOs: not stated at Sahi, Yes, using the SME IPO filter in the IPO section. SME bids need a… at Upstox.
The same at both: account opening and Mainboard IPOs.
Sahi vs Upstox: charges side by side
Differs 5 of 7 charges differ between Sahi and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Sahi | Upstox |
|---|---|---|
| Open an account | ||
| Account opening | Free | ₹0 |
| Demat maintenance (AMC) | Free | ₹0 in the first year for new customers, then ₹300 plus GST a year (BSDA accounts have separate terms) |
| Apply for IPOs | ||
| Mainboard IPOs | Yes, free | Yes, in the IPO section of the app with a UPI mandate |
| SME IPOs | Not stated on the pages we checked | Yes, using the SME IPO filter in the IPO section. SME bids need a price; cut-off is not allowed |
| Sell your IPO shares | ||
| Equity delivery brokerage | ₹10 or 0.05% per order, whichever is lower | ₹20 per executed order |
| DP charge on selling shares | ₹13.50 per company (GST not stated; we add 18% in our calculation) | ₹20 plus GST per scrip per day (₹3.50 CDSL and ₹16.50 Upstox; ₹3.25 and ₹16.75 for women) |
| Registration | ||
| SEBI registration | INZ000317632 | INZ000315837 |
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 Sahi and Upstox pages.
Sahi and Upstox strengths and things worth checking
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.
Upstox
Strengths
- Zero commission on IPOs
- ₹0 account opening
- SME IPOs in the app
Worth checking
- Flat ₹20 on delivery
Even a small sale of IPO shares costs ₹20 brokerage plus a ₹20 plus GST DP charge.
- Dealer orders cost more
Call and trade and auto square-off cost ₹75 plus GST each.
- AMC after the first year
₹300 plus GST a year.
Brokerage calculator: Sahi vs Upstox
| Charge | Sahi | Upstox |
|---|
Ours, with NSE rates. Change the trade to see what Sahi and Upstox would each charge.
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Every comparison with Sahi or Upstox, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Sahi or Upstox?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹24.78 in broker charges at Sahi and ₹47.20 at Upstox (our calculation). For two SME lots worth ₹2,50,000: Sahi ₹27.73, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Sahi and Upstox be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Sahi costs ₹269.04 less in broker charges (our calculation). Add the yearly AMC: Sahi: Free; Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
Can I apply for SME IPOs on Sahi and Upstox?
Upstox lets you apply for SME IPOs; Sahi does not say so on the pages we checked.
What is the demat AMC at Sahi and Upstox?
Sahi: Free. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
What brokerage do Sahi and Upstox charge when I sell IPO shares?
Selling allotted shares is a delivery trade. On a ₹15,000 sale the brokerage with GST is ₹8.85 at Sahi and ₹23.60 at Upstox (our calculation from their published rates).