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
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 Mirae Asset Sharekhan and Upstox differ
5 of the 7 charges we compare differ for an IPO investor.
| Cost to sell IPO shares (ours) | Mirae Asset Sharekhan | Upstox |
|---|---|---|
| One mainboard lot, ₹15,000₹5.90 less at Upstox | ₹53.10 | ₹47.20 |
| Two SME lots, ₹2,50,000₹837.80 less at Upstox | ₹885.00 | ₹47.20 |
| A year: 12 mainboard lots sold₹70.80 less at Upstox | ₹637.20 | ₹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): ₹400 a year, free for the first year at Mirae Asset Sharekhan, ₹0 in the first year for new customers, then ₹300 plus GST a year at Upstox.
- Equity delivery brokerage: 0.30% of trade value at Mirae Asset Sharekhan, ₹20 per executed order at Upstox.
- DP charge on selling shares: Nil when sold through Mirae Asset Sharekhan at Mirae Asset Sharekhan, ₹20 plus GST per scrip per day at Upstox.
- SME IPOs: not stated at Mirae Asset Sharekhan, 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.
Mirae Asset Sharekhan vs Upstox: charges side by side
Differs 5 of 7 charges differ between Mirae Asset Sharekhan and Upstox. Same charges are greyed. ₹0 free Not stated not on the broker's pages
| Charge | Mirae Asset Sharekhan | Upstox |
|---|---|---|
| Open an account | ||
| Account opening | ₹0 | ₹0 |
| Demat maintenance (AMC) | ₹400 a year, free for the first year | ₹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 | 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 | 0.30% of trade value (minimum 1 paisa a share) | ₹20 per executed order |
| DP charge on selling shares | Nil when sold through Mirae Asset Sharekhan | ₹20 plus GST per scrip per day (₹3.50 CDSL and ₹16.50 Upstox; ₹3.25 and ₹16.75 for women) |
| Registration | ||
| SEBI registration | INZ000171337 | 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 Mirae Asset Sharekhan and Upstox pages.
Mirae Asset Sharekhan and Upstox strengths and things worth checking
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.
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: Mirae Asset Sharekhan vs Upstox
Other comparisons
Every comparison with Mirae Asset Sharekhan or Upstox, or pick any two brokers.
Frequently asked questions
Which is cheaper for selling IPO shares, Mirae Asset Sharekhan or Upstox?
Selling one mainboard lot of IPO shares (₹15,000) costs ₹47.20 in broker charges at Upstox and ₹53.10 at Mirae Asset Sharekhan (our calculation). For two SME lots worth ₹2,50,000: Mirae Asset Sharekhan ₹885.00, Upstox ₹47.20 (our calculation, brokerage and DP charge with GST).
How much would the difference between Mirae Asset Sharekhan and Upstox be over a year?
If you sell 12 mainboard lots of ₹15,000 in a year, Upstox costs ₹70.80 less in broker charges (our calculation). Add the yearly AMC: Mirae Asset Sharekhan: ₹400 a year, free for the first year; Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
Can I apply for SME IPOs on Mirae Asset Sharekhan and Upstox?
Upstox lets you apply for SME IPOs; Mirae Asset Sharekhan does not say so on the pages we checked.
What is the demat AMC at Mirae Asset Sharekhan and Upstox?
Mirae Asset Sharekhan: ₹400 a year, free for the first year. Upstox: ₹0 in the first year for new customers, then ₹300 plus GST a year.
What brokerage do Mirae Asset Sharekhan 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 ₹53.10 at Mirae Asset Sharekhan and ₹23.60 at Upstox (our calculation from their published rates).