Best Broker for IPO in India 2026 — Compare Top 4
Compare Zerodha, Upstox, Angel One and Groww on IPO process, charges, NRI support and platform rating.
Select brokers to compare (max 4):
| Feature |  Zerodha★4.5 1.6 Cr+ |  Upstox★4.2 1 Cr+ |  Angel One★4.1 2 Cr+ |  Groww★4.3 2 Cr+ |
|---|---|---|---|---|
| IPO Features | ||||
| IPO Rating | ★ 4.8/5 | ★ 4.5/5 | ★ 4.3/5 | ★ 4.5/5 |
| Application Time | 2 min | 3 min | 3 min | 2 min |
| UPI ASBA | ✅ | ✅ | ✅ | ✅ |
| Net Banking ASBA | ✅ | ❌ | ✅ | ❌ |
| SME IPO Support | ✅ | ✅ | ✅ | ❌ |
| NRI IPO Support | ❌ | ❌ | ✅ | ❌ |
| Fees | ||||
| Account Opening | Free | Free | Free | Free |
| Annual Maintenance | ₹300/year | Free (1st year) | ₹240/year | Free |
| Equity Delivery | Free | Free | Free | ₹20/order |
| Intraday | ₹20/order | ₹20/order | ₹20/order | ₹20/order |
| F&O | ₹20/order | ₹20/order | ₹20/order | ₹20/order |
| DP Charge (sell) | ₹15.34 + GST | ₹18.5 + GST | ₹20 + GST | ₹20 + GST |
| Platform | ||||
| App Rating | 4.4 / 5 | 4.3 / 5 | 4.2 / 5 | 4.5 / 5 |
| Trading Platform | Kite | Upstox Pro | Angel One Super App | Groww App |
| Founded | 2010 | 2012 | 1987 | 2016 |
| Broker Type | Discount | Discount | Hybrid | Discount |
| Best for | Active traders Open Account | New investors Open Account | NRI investors & research users Open Account | First-time investors Open Account |
Best for IPO beginners
Groww
Simplest UPI application, best-rated app (4.5★), zero AMC forever
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Editor's PickBest overall for IPO
Zerodha
Fastest application (2 min), SME IPO support, largest broker in India
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Best for NRI investors
Angel One
Only major discount broker with NRI IPO + ASBA + net banking support
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Detailed Head-to-Head Comparisons
Which broker is best for IPO investing in India?
For most retail investors applying for IPOs, Zerodha or Upstox offer the simplest process with 2-3 minute UPI applications. For NRI investors, Angel One is the only major discount broker with full NRI IPO support. For beginners who also want mutual funds, Groww's app experience is unmatched.
Frequently Asked Questions
Which broker is best for IPO in India?+
For most investors, Zerodha and Upstox offer the fastest IPO application process (2-3 minutes via UPI). Angel One is best for NRI investors as it supports NRI demat accounts for IPO applications.
Can I apply for IPO through Groww?+
Yes, Groww supports IPO applications via UPI. However, Groww does not support ASBA or SME IPOs. For SME IPOs, use Zerodha, Upstox, or Angel One.
Which broker has zero charges for IPO?+
All major brokers (Zerodha, Upstox, Angel One, Groww) charge zero brokerage on equity delivery and zero account opening fees. IPO applications are free on all platforms.
Can NRI apply for IPO through Zerodha?+
No, Zerodha does not support NRI demat accounts for IPO applications. NRI investors should use Angel One, ICICI Direct, or Kotak Securities for IPO applications.