Quick Summary
Goldman Sachs (India) Securities Private Limited holds SEBI Research Analyst registration INH000001493, active since August 21, 2015 on a perpetual basis, under Compliance Officer Anil Rajput. The registration is confirmed on both SEBI’s own record and the firm’s website. Its Research Analyst disclosure page carries no pricing, no plan selector, and no retail sign-up flow, since the firm’s research is delivered through institutional and private wealth relationships rather than a public subscription product. Its five-year SEBI complaint disclosure shows a single complaint, received and resolved in 2024-25. This page covers the registration, how access actually works, and what to check if someone offers you a Goldman Sachs research plan.
Goldman Sachs India holds a genuine SEBI Research Analyst registration, and one detail about it surprises most first-time readers.
There is no page on Goldman Sachs’s website where an individual investor can sign up for its research service, see a price, or make a payment.
That is not a compliance gap. It reflects how the firm’s research business is actually structured, and it matters directly if anyone has approached you offering a Goldman Sachs research subscription.
This page covers the registration, what the firm actually offers, how access works in practice, and what its complaint record shows.
Is Goldman Sachs India SEBI Registered?
Yes. Goldman Sachs (India) Securities Private Limited holds an active SEBI Research Analyst registration under number INH000001493, valid from August 21, 2015, on a perpetual basis.
The SEBI-listed contact person is Anil Rajput, and the registered and correspondence address listed as 9th and 10th Floor, Ascent-Worli, Sudam Kalu Ahire Marg, Worli, Mumbai, Maharashtra 400025.
This registration is independently confirmed on Goldman Sachs’s own website, on a dedicated Research Analyst disclosure page listing the same registration number, the same registered office, and the same telephone number that appear in SEBI’s record.
That page also links directly to the firm’s Grievance Redressal and Escalation Matrix, its Minimum Mandatory Terms and Conditions for research clients, its Annual Compliance Audit Report, its Investor Charter, and its published Investor Complaints data.
No SEBI enforcement or adjudication order against this registration turned up in general web searches at the time of this review. Treat that as a neutral finding rather than a clearance. It reflects what has surfaced publicly and does not rule out matters still under review.
What Services Does Goldman Sachs India Offer?
Goldman Sachs (India) Securities Private Limited undertakes Merchant Banking, Securities, and Research businesses in India. Its Research Analyst registration specifically governs the research and recommendation activity it publishes under SEBI’s Research Analyst Regulations.
As part of the wider Goldman Sachs India group, the firm also provides investment banking, private wealth and asset management, and broader securities services, though those activities sit outside this particular RA registration.
Its own SEBI disclosure page states plainly that registration granted by SEBI and NISM certification in no way guarantee performance or assure returns. That is the same caveat every SEBI registered Research Analyst is required to carry, and it applies here exactly as it would to a much smaller firm.
Can You Actually Subscribe to Goldman Sachs India’s Research?
This is the question most individual investors researching this firm actually want answered, and the honest answer is more complicated than a simple yes.
Picture an investor who reads that Goldman Sachs holds SEBI registration INH000001493 and wants to become a research client the way they would sign up for a smaller Research Analyst’s monthly or yearly plan. Here is what that search actually turns up.
1. There Is No Sign-Up Page
The Research Analyst page carries no Register, Sign Up, or Get Started button, only compliance disclosures and linked PDFs.
Searching the wider site turns up client login portals, career pages, and market commentary, but nothing resembling an account creation flow for a research subscription.
2. There Is No Published Price
A retail-facing Research Analyst typically shows Monthly, Quarterly, Half-Yearly, and Yearly tiers with a fee attached to each.
Goldman Sachs shows none of this, so there is no way to know what a research relationship would cost, or whether it is open at all to someone without an existing institutional or private wealth relationship with the firm.
3. There Is No Payment Mechanism
With no plan and no price, there is also no checkout page, no UPI or card option, and no invoice trigger.
The only outward-facing next step on the disclosure page is a newsletter subscription for Goldman Sachs’s Briefings email and links to general market Insights content, neither of which makes someone a registered research client.
This pattern lines up with how SEBI’s fee cap rule itself is structured. The Rs 1,51,000 per family annual cap applies specifically to individual and HUF clients.
Institutional and other non-individual clients negotiate fees bilaterally and are not subject to that cap, which fits a firm whose stated client base is corporations, financial institutions, governments, and high net worth individuals served through relationship-driven banking rather than a retail subscription product.
The realistic path for an individual to access Goldman Sachs India’s research is through an existing Private Wealth Management or institutional relationship, not through the public Research Analyst disclosure page.
An investor expecting a retail sign-up and payment flow the way they would find on a smaller Research Analyst’s website would come away unable to complete anything, since none of those steps exist on Goldman Sachs’s site.
Also Read: Shri Money SEBI Order, on what happens when an RA skips the mandatory disclosures SEBI requires with every recommendation.
Who Runs Goldman Sachs India and How Transparent Is Its Compliance Setup?
The Compliance Officer named on Goldman Sachs India’s own disclosure page, Anil Rajput, matches the contact person SEBI’s registration record lists for INH000001493. That match between an independent regulator’s record and the firm’s own published document is a genuine cross-check any investor can run themselves.
The firm’s escalation matrix also lays out a two-level escalation path below the compliance officer, names a separate Principal Officer, and states directly that the company has no designated CEO, a specific and checkable disclosure rather than an omission.
Corporate filings show Goldman Sachs (India) Securities Private Limited sits within a wider group of related entities, including Goldman Sachs (India) Capital Markets Limited, Goldman Sachs (India) Finance Private Limited, Goldman Sachs (India) Alternative Investment Management Private Limited, and Goldman Sachs Asset Management (India) Private Limited, all operating from the same Worli, Mumbai address.
The Research Analyst entity reported revenue above Rs 1,000 crore for the year ending March 31, 2025, with a team size of 333 employees as of October 2024. Scale of this kind does not by itself say anything about service quality, but it does place Goldman Sachs India in a materially different category from a small proprietorship or startup Research Analyst.
What Does Goldman Sachs India’s SEBI Complaint Record Show?
SEBI requires every Research Analyst to publicly disclose annual investor complaint data. The table below shows all five reporting years available for Goldman Sachs India.
| Year | Carried Forward | Received | Resolved | Pending |
|---|---|---|---|---|
| 2022-23 | 0 | 0 | 0 | 0 |
| 2023-24 | 0 | 0 | 0 | 0 |
| 2024-25 | 0 | 1 | 1 | 0 |
| 2025-26 | 0 | 0 | 0 | 0 |
| 2026-27 | 0 | 0 | 0 | 0 |
| Grand Total | 0 | 1 | 1 | 0 |
Across five reporting years, Goldman Sachs India shows a single formal SEBI complaint, received and resolved in 2024-25, with nothing pending in any year.
This low volume is worth reading in both directions. It suggests a largely dispute-free record on SEBI’s own dashboard. It also means the data carries limited weight on how the firm would handle a dispute at meaningfully greater scale, simply because so few cases exist to judge that from.
Are There Any Independent User Reviews of Goldman Sachs India?
A search across major review platforms surfaced one review worth noting, a one-star rating on JustDial under the listing for Goldman Sachs India Securities Pvt Ltd in Mumbai.
Posted by a user named ARAFAT and dated July 22, 2024, the review alleges the company is fraudulent and took the reviewer’s money. No transaction amount, product, date, or supporting documentation is visible, and there is no company response recorded.
We are reporting what this reviewer said on a public platform. We are not independently verifying this account, and no SEBI order confirming this conduct has been issued as of the date of this review.
Even a globally regulated, well-capitalized institution can attract a public complaint of this kind, however thin on detail. Firm size, brand recognition, and regulatory pedigree reduce certain risks, but they are not a guarantee against a dispute-free experience. None of it replaces an investor’s own diligence in reading a firm’s disclosures and complaint process before relying on any research service.
This single review is not evidence of wrongdoing by Goldman Sachs.
How Do You Spot a Fake Goldman Sachs Advisory Offer?
The absence of a retail sign-up flow, covered earlier on this page, matters most in exactly this context.
If someone contacts you offering a Goldman Sachs research subscription, a paid alert service, or a guaranteed-return trading plan under the Goldman Sachs name, treat it with serious caution.
A few checks are worth running before you send any money or share any documents. Confirm any communication comes from a Goldman Sachs email address rather than a generic or lookalike domain. Ask for the specific SEBI registration number being used and cross-check it against INH000001493 on SEBI’s own website. And remember that Goldman Sachs India’s actual research relationships run through private wealth or institutional channels, not a cold call or a social media message offering a subscription plan.
If you believe you have been misled by someone falsely claiming to represent Goldman Sachs, document everything you were shown, including screenshots, payment proof, and the registration number they quoted.
From there, the complaint against SEBI registered research analyst page on this site covers how to raise the matter formally against whoever misused the name, starting with a written notice and a chronological account of what happened.
If that first step does not resolve things, the same page walks you through escalating via SEBI SCORES, SEBI’s official investor grievance portal.
Alongside this, it also explains what information and documents to keep ready, so you can submit the complaint with the necessary details and supporting evidence.
And if SCORES still leaves the matter unresolved, SMART ODR offers structured, neutral online conciliation as the next stage before formal arbitration.
Been offered a “Goldman Sachs” research plan and unsure if it is genuine?
We check the registration details against SEBI’s official record, confirm whether the offer matches Goldman Sachs’s actual service structure, and guide you on reporting it if it does not. Register with us for a free consultation.
Conclusion
Goldman Sachs India genuinely holds SEBI Research Analyst registration INH000001493, and its compliance disclosures are unusually thorough, down to naming its own escalation matrix and confirming it has no designated CEO.
What makes this firm different from most entries on this site is the near absence of a public complaint history and the complete absence of a retail product to complain about in the first place. Its research relationships run through institutional and private wealth channels, not a subscription plan.
If you are evaluating Goldman Sachs India itself, verify the registration directly on SEBI’s website and read its published disclosures. If you have been offered a Goldman Sachs branded research plan through a cold call, WhatsApp message, or social media post, treat that as a strong warning sign rather than an opportunity.
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Frequently Asked Questions
Yes. Goldman Sachs (India) Securities Private Limited holds SEBI Research Analyst registration INH000001493, active since August 21, 2015 on a perpetual basis, with Anil Rajput listed as the SEBI contact person.
Not through a public sign-up flow. Goldman Sachs India's Research Analyst disclosure page has no pricing, plan selector, or payment mechanism. Its research relationships are delivered through institutional and private wealth channels rather than a retail subscription.
Across five reporting years from 2022-23 to 2026-27, Goldman Sachs India's SEBI disclosure shows a single complaint, received and resolved in 2024-25, with nothing pending in any year.
Be cautious. No public retail research subscription could be confirmed to exist on Goldman Sachs's own website. Verify any offer's SEBI registration number against INH000001493 directly on SEBI's website before paying anything.
Anil Rajput is listed as the Compliance Officer on Goldman Sachs India's own disclosure page, matching the contact person named in SEBI's official registration record for INH000001493.
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