Best Demat App to Apply for IPOs in India (2026)

Applying for an IPO is done via UPI through your broker app. These apps make IPO application smooth — clear listings, one-tap UPI mandate and reliable allotment handling.

Our top pick for this is Zerodha — India's most trusted discount broker. Free equity delivery, the polished Kite platform, Console reporting and the free Varsity education library make it the default first account for serious long-term investors.

#NameScoreAccount OpeningDemat AMCDelivery BrokerageIntraday & F&O
1ZerodhaTop pick9.4/10₹0 (free)₹300 / yr (1st yr free)₹0 (free)₹20 or 0.03% (lower)
2Groww9.2/10₹0 (free)₹0 (free)₹0 (free)₹20 or 0.05% (lower)
3Angel One8.8/10₹0 (free)₹240 / yr (1st yr free)₹0 (free)₹20 or 0.25% (lower)
4Upstox8.6/10₹0 (free)₹300 / yr (1st yr free)₹20 / order₹20 or 0.1% (lower)

Best overall

1

Zerodha

India's most trusted discount broker. Free equity delivery, the polished Kite platform, Console reporting and the free Varsity education library make it the default first account for serious long-term investors.

9.4
/ 10
Account Opening
₹0 (free)
Demat AMC
₹300 / yr (1st yr free)
Delivery Brokerage
₹0 (free)
Intraday & F&O
₹20 or 0.03% (lower)
  • Free equity delivery
  • Best-in-class Kite platform & Console
  • Huge, stable, trusted user base
  • Free Varsity learning
  • ₹300/yr AMC from the second year
  • No free call-and-trade advisory
  • Occasional load at market open
Open account Official site
2

Groww

The simplest app for first-time investors, now one of India's largest brokers by active users. Stocks, mutual funds, IPOs and ETFs in one clean interface with zero account opening and zero AMC.

9.2
/ 10
Account Opening
₹0 (free)
Demat AMC
₹0 (free)
Delivery Brokerage
₹0 (free)
Intraday & F&O
₹20 or 0.05% (lower)
  • Free delivery, zero opening & zero AMC
  • Easiest app for beginners
  • Stocks + mutual funds in one place
  • Fast paperless KYC
  • DP charge (~₹20) when you sell shares
  • Fewer advanced trader tools
  • Lighter charting than Kite/Fyers
Open account Official site
3

Angel One

A full-featured app that blends discount pricing with research and advisory. Zero account opening, free first-year AMC and a feature-rich platform make it a strong all-rounder for Indian investors.

8.8
/ 10
Account Opening
₹0 (free)
Demat AMC
₹240 / yr (1st yr free)
Delivery Brokerage
₹0 (free)
Intraday & F&O
₹20 or 0.25% (lower)
  • Free equity delivery
  • Research, advisory & smart-API
  • First-year AMC waived
  • Large branch + support network
  • Higher intraday % rate than peers
  • App can feel feature-heavy for beginners
  • Upsell of advisory products
Open account Official site
4

Upstox

A fast, reliable discount broker backed by Ratan Tata and Tiger Global. Flat ₹20 trades, a snappy app and frequent free-account-opening offers make it a popular Zerodha alternative.

8.6
/ 10
Account Opening
₹0 (free)
Demat AMC
₹300 / yr (1st yr free)
Delivery Brokerage
₹20 / order
Intraday & F&O
₹20 or 0.1% (lower)
  • Frequent free account opening
  • Fast, stable app
  • Flat ₹20 trades
  • Good for intraday
  • Delivery is not free
  • AMC after first year
  • Fewer learning resources than Zerodha
Open account Official site

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Charges verified June 2026 from each broker's official site; they can change — confirm before opening. Information only, not financial advice.