Graassp Equity Research Services: Owner, SEBI Status and Complaint Record

Every time someone searches “best stock advisory in India,” hundreds of names show up, most of them unverified, unregulated, or both. Picking the right one takes more than reading a homepage.

Graassp Equity Research Services presents itself as a considered, community-focused research firm.

Some of that holds up under scrutiny. Some of it needs a harder look, starting with a gap in its own timeline that the firm’s marketing doesn’t address directly.

This page walks through who runs it, what its SEBI registration actually covers, and four specific concerns that come straight from the firm’s own public information, not speculation.

Graassp Equity Research Services Review

Graassp Equity Research Services was formally founded in 2023 and is headquartered in New Delhi. The firm traces its conceptual roots back to 2015, nearly a decade of stated groundwork before it became a registered entity.

Its positioning leans community-first.

According to its public disclosures, the firm focuses specifically on making financial knowledge accessible to people without formal finance education, including lower-income investors who may never have been told markets could work in their favour.

That framing is genuinely uncommon in a sector that usually markets almost exclusively to investors who are already comfortable.

Three services sit at the core of what it offers, and each one falls within what SEBI permits a registered Research Analyst to do:

• Smallcase Portfolios: theme-based stock baskets built around a specific investing idea or sector.
• Equity Research Reports: company-level analysis covering financials, valuations, and risk factors for individual stocks.
• Industry Research Reports: sector-level analysis mapping growth drivers and competitive dynamics across an industry.

The firm’s own disclosure states its services are limited to independent recommendations, not portfolio management or advisory services requiring a separate registration, and it explicitly states it does not guarantee returns.

That’s a compliance posture worth crediting; plenty of firms in this space aren’t nearly as upfront about it.

Abhishek Gupta Graassp Equity Research Services

Abhishek Gupta is the co-founder of Graassp Equity Research Services.

He holds an MBA in Finance from IBS Hyderabad and a B.Tech from VIT Vellore, and the firm’s website credits him with over 15 years of equity market experience.

His official role listing on the company website names him in four positions simultaneously: Customer Care Head, CEO, Compliance Officer, and Principal Officer.

That concentration is worth understanding properly, not just noting in passing. The Compliance Officer and Principal Officer roles carry specific regulatory responsibilities under SEBI’s Research Analyst Regulations.

In a larger firm, these roles sit apart from day-to-day business operations specifically so the compliance function can independently check that the business is staying within its regulatory boundaries.

With one person holding all four roles, that separation doesn’t exist. This isn’t a violation on its own; plenty of small proprietorship-run RA firms are structured exactly this way.

But it does mean that if a compliance gap ever surfaces, the person responsible for identifying it and the person responsible for the business that created it are the same individual.

Practically, that also means any internal grievance you raise goes directly to the person whose own conduct the grievance concerns.

Is Graassp Equity Research Services SEBI Registered?

Yes. Abhishek Gupta holds SEBI Research Analyst registration INH000015668, granted on March 21, 2024, with perpetual validity.

The SEBI registry lists the entity name as “Abhishek Gupta, Proprietor of Graassp Equity Research Services,” confirming the registration sits with Gupta individually as a sole proprietor, not with a separate corporate structure.

The registered contact email on file is [email protected], and the registered address is C 83B Jitar Nagar, near Gurudwara, Delhi, National Capital Territory of Delhi, 110051.

This is worth flagging directly: the firm’s own marketing describes it as based out of New Delhi, and the SEBI registry confirms an actual Delhi address, which is a point of consistency, not a red flag.

That distinction matters given the pattern seen elsewhere in this cluster, where a firm’s marketed location and its registered SEBI address don’t match. Here, they do.

The registration is independently verifiable on SEBI’s own database, and the zero-complaint record published on the firm’s website is a genuine positive worth acknowledging on its own terms.

That said, a valid registration only confirms the present. It says nothing about what happened before it existed, which is the specific gap covered next.

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Graassp Equity Research SEBI Registration Timeline Gap

Graassp Equity Research Services states it began operating in 2023. Its SEBI Research Analyst registration was granted in 2024.

That’s a real gap, and it matters because SEBI’s Research Analyst Regulations require registration before a firm provides research services commercially.

If the firm was building client relationships, offering research, or operating its service model at any point during that window before registration existed, that period sits outside the legal authorisation that’s supposed to cover it.

The firm’s own website frames 2015 to 2023 as a conceptual development phase, groundwork rather than active service delivery. That framing may well be accurate.

It’s also not independently verifiable from the outside, and it’s a direct, fair question to put to the firm before subscribing: what exactly was happening commercially between 2023 and the 2024 registration date, and under what authorisation?

Graassp Equity Research Services Complaint Data

SEBI requires every registered Research Analyst to publish monthly complaint disclosure data, updated by the 7th of every following month.

Here’s what Graassp has published so far:

Zero complaints across every published month. That’s worth taking seriously on its own terms.

In a space where SEBI’s SCORES platform receives thousands of grievances against research and advisory firms every year, a firm that’s maintained a clean record since 2023 is demonstrating something most competitors in this segment can’t.

Zero complaints in a real, checkable dataset is a genuine positive, not a hollow claim.

The problem is the date. The most recent entry is August 2025. Against a requirement to update this data by the 7th of every following month, that disclosure now sits several months behind where it should be.

An outdated table with a clean record tells you about the past. It tells you nothing about September 2025 onward, which is the period a prospective client actually needs to know about.

Both things are true at once: the underlying zero is a real, positive signal, and the fact that it hasn’t been kept current is a genuine compliance gap. Neither cancels the other out.

For a sense of what a very different complaint picture looks like, it’s worth comparing this against a firm with an actual track record of unresolved grievances, several complaints reported against a firm rather than zero, which shows just how far the range runs across this category.

Graassp Equity Research Pricing & Subscription Charges

None of Graassp’s three services carry visible pricing on the website. You can read exactly what each service claims to deliver, but the cost only comes up once you’ve already made contact.

This matters beyond simple transparency. SEBI caps total Research Analyst fees at ₹1,51,000 per client family per year, across every service combined.

Without visible pricing, there’s no way to check whether the combination of services you’re considering approaches or exceeds that cap before you’re already in a sales conversation.

Pricing transparency before contact is a basic standard for investor-friendly service, and its absence here shifts that entire calculation to after you’ve already engaged.

Not sure whether what you’re seeing, the timeline gap, the stale disclosure, or something else entirely, actually gives you grounds to act?

We review your specific situation against what SEBI actually requires, and help you build a complaint that holds up if you decide to escalate.

Register with us for a free consultation.

What Graassp Equity Research Services Is Actually Authorised to Do?

Abhishek Gupta’s RA registration maps onto three things Graassp already sells:

• Equity and Industry Research Reports, built on documented analysis
• Buy, hold, or sell calls, with proper risk disclosure attached
• Smallcase portfolios, through the approved platform

What it doesn’t cover is fund handling or performance-linked pay. Gupta can recommend a trade. He can’t execute one for you, manage your capital, or charge based on how your account performs.

If a conversation ever shifts from “here’s our research” to “let us handle this for you,” that’s the line this licence doesn’t extend past.

What Would Actually Be a Red Flag for Graassp Equity Research Services?

Not a generic warning list, this is checked against claims Graassp has already made about itself.

• Any guaranteed return language. The firm states it doesn’t guarantee returns. Anything that contradicts that directly is worth questioning.
• A fee tied to your profits. Outside what the licence permits, and inconsistent with a fee structure the firm hasn’t even published yet.
• Pressure to “upgrade” after a loss. A pattern seen repeatedly in this category, worth watching for given how little visibility you have before you’ve already engaged.
• Being asked to fund an account Graassp controls. That’s portfolio management, a service this registration doesn’t authorise.

None of this claims Graassp has done any of it. It’s the checklist worth running your own experience against.

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Also Read: Apex Capital Research shows a self-published 5-star customer review; know if it holds a value.

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How to Verify Graassp Equity Research Services Before You Subscribe?

How to File a Complaint Against Graassp Equity Research Services?

If the checks above turn up something that doesn’t add up, waiting rarely improves your position; evidence gets harder to gather the longer you leave it, and a firm that’s already been slow to update its own disclosures isn’t likely to move faster once you’re asking for a refund.

There’s a specific escalation path for this, and following it in order matters more than jumping straight to the most serious step.

• Start by contacting the firm directly. State the service, amount paid, and the gap between what was promised and delivered. Keep it in writing, and give 10 to 15 working days for a response.
• If that response is unsatisfactory or absent, escalate through a SEBI SCORES complaint, registered against INH000015668.
• For unresolved financial disputes, the SMART ODR portal provides structured mediation, linked to your existing SCORES case.
• If mediation fails, formal share market arbitration through NSE or BSE is the final, binding step.

If you want to know the full process in detail, check our guide on complaint against a SEBI registered research analyst.

Legal Disclaimer: This blog is based on Graassp Equity Research Services’ own public disclosures and SEBI’s registry data. No SEBI action has been issued against the firm as of the date of writing, and we make no independent claims about its legitimacy beyond what these sources confirm.

Conclusion

Abhishek Gupta holds a genuine SEBI Research Analyst registration, and Graassp Equity Research Services has maintained a zero-complaint record across every month it’s published. Both of those are real, and both deserve credit on their own terms.

Four specific questions sit underneath that clean surface, all visible from the firm’s own public information. The registration arrived a year after the firm says it started operating.

One person holds every accountable role in the business, including the compliance function meant to check that business. The complaint disclosure has gone unrefreshed for months past its own deadline.

And pricing stays invisible until after you’ve already made contact.

None of this requires outside information to observe; it’s all sitting in what the firm has already published. A registration and a clean record are the floor of due diligence, not the ceiling.

Ask the four questions above before you subscribe, not after.

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Frequently Asked Questions

1. Is Graassp Equity Research Services SEBI registered?

Yes. Abhishek Gupta holds SEBI Research Analyst registration INH000015668, granted in 2024, and it's independently verifiable on SEBI's own database.

2. Was Graassp Equity Research Services operating before it got SEBI registered?

The firm states it began operating in 2023, a year before its 2024 registration. Whether commercial research services were provided during that window is a direct question worth putting to the firm before subscribing.

3. Why does Graassp's complaint disclosure only go up to August 2025?

SEBI requires this data updated by the 7th of every following month. The most recent entry available is several months behind that requirement, which means current months aren't reflected in the public record.

4. Does Abhishek Gupta hold more than one role at Graassp?

Yes. He's listed as CEO, Compliance Officer, Principal Officer, and Customer Care Head simultaneously, meaning the same person overseeing the business also holds the role meant to check it independently.

5. Is Graassp Equity Research Services' zero-complaint record trustworthy?

The underlying number is genuine and independently checkable on SEBI's records. It reflects data only through August 2025 though, so it confirms the past, not necessarily the

6. What's the SEBI fee cap for a Research Analyst like Graassp?

₹1,51,000 per client family per year, across all services combined. Since Graassp doesn't publish pricing upfront, checking your total cost against this cap only becomes possible after you've already made contact.