Quick Summary
Investomania Research Services Private Limited holds SEBI Research Analyst registration INH000009898, active since June 16, 2022, on a perpetual basis, under contact person Akashdeep Chandel. Its yearly pricing plans sit at or under SEBI’s annual fee cap, but its monthly and quarterly options annualise to several times that limit. Its own website states a fixed 2027 expiry that contradicts SEBI’s perpetual record, carries a fictional 1998 founding date on its About Us page, and lists a contact number that does not match SEBI’s record for that role. This page covers the registration, the pricing structure, the complaint data, and what these inconsistencies mean.
Investomania Research prices its yearly plans right at SEBI’s fee cap, and its monthly plans at nearly five times that same cap.
That is not a pricing quirk. It is a structure that rewards a client for committing to a full year upfront and quietly ignores the cap for anyone who signs up “just to try it out” first.
This page covers the registration, the full pricing breakdown against SEBI’s limit, the complaint record, and a set of inconsistencies on the firm’s own website worth checking before you pay.
Is Investomania Research SEBI Registered?
Yes. Investomania Research Services Private Limited holds an active, non-individual SEBI Research Analyst registration under number INH000009898, valid from June 16, 2022, on a perpetual basis.
The registered contact person on file is Akashdeep Chandel.
The firm’s own website independently confirms this same registration number and describes itself as a body corporate Research Analyst, consistent with the private limited structure shown in SEBI’s record. That cross-check is a genuine positive.
No SEBI enforcement or adjudication order against this registration was found in the research behind this review. Treat that as a neutral finding rather than a clearance, since it reflects what has surfaced publicly.
What Entity and Registration Details Does Investomania Research Carry?
The table below lays out the full registration picture as it appears on SEBI’s own record.
| Field | Detail |
|---|---|
| Registered name | Investomania Research Services Private Limited |
| SEBI RA registration no. | INH000009898 |
| Registration validity | June 16, 2022, Perpetual |
| Contact person | Akashdeep Chandel |
| Registered email | [email protected] |
| Registered telephone | 91 7580808069 |
| Registered address | Naman Exotica, P. No 14, F. No. 301, Clerk Town, Kadnagpur, Nagpur, Maharashtra, 440004 |
| Correspondence address | 7 MIG Muninagar, First Floor Office No. 1, Indore Road, Ujjain, Madhya Pradesh, 456010 |
The registration has been active for roughly four years at the time of this review. A registered office in Nagpur alongside a correspondence address in Ujjain is not unusual for a firm operating across multiple cities, but it is worth knowing if you need to reach the firm by post.
Does Investomania Research’s Pricing Exceed SEBI’s Fee Cap?
This is the most detailed finding in this review, and it deserves a full breakdown rather than a simple yes or no.
Investomania publishes full pricing across three product lines, Stock Cash, MCX, and HNI Cash, each offered at four billing frequencies.
| Plan | Monthly | Quarterly | Half Yearly | Yearly |
|---|---|---|---|---|
| Stock Cash | Rs 20,000 | Rs 45,000 | Rs 75,000 | Rs 1,35,000 |
| MCX | Rs 15,000 | Rs 35,000 | Rs 45,000 | Rs 85,000 |
| HNI Cash | Rs 60,000 | Rs 90,000 | Rs 1,10,000 | Rs 1,51,000 |
Annualising each figure against SEBI’s Rs 1,51,000 per family annual cap for individual and HUF clients shows a consistent pattern. The yearly price for every plan sits at or under the cap, but the shorter billing options annualise to well above it.
HNI Cash is the starkest example. Its yearly price, Rs 1,51,000, lands exactly at SEBI’s cap. Its monthly price, if paid every month for a year, comes to Rs 7,20,000, nearly 4.8 times the annual ceiling.
Stock Cash paid monthly works out to Rs 2,40,000 a year, and paid quarterly to Rs 1,80,000 a year, both above the cap. Only its half-yearly and yearly options stay within it. MCX is the closest to fully compliant, with only its monthly option, Rs 1,80,000 a year, exceeding the limit.
Why Monthly Plans Silently Breach the SEBI Fee Limit
This is a meaningfully different pattern from other Research Analysts found to exceed the cap elsewhere in this series, where every billing option was priced above it. Here, the annual price is calibrated right at or under the ceiling, which suggests deliberate awareness of the cap, while the monthly and quarterly options, usually the more approachable entry point for a new client, are not similarly constrained.
A client who signs up for just a month to try it out, then renews monthly through the year, ends up paying substantially more than SEBI’s fee limit permits, without necessarily realising it.
What Does Investomania Research’s Complaint Record Show?
SEBI’s disclosure shows just one complaint per year for three straight years, 2024-25 through 2026-27, all resolved with none pending.
On paper, this looks clean, but it is self-reported by the firm and not independently audited, and a low count can just as easily reflect a small client base or dissatisfied clients who never filed as it can genuinely good service.
For the full year-by-year table and what this data does and does not prove, the Investomania Research Services reviews page on this site covers it alongside what actual users report.
What Inconsistencies Appear on Investomania Research’s Own Website?
Three specific inconsistencies on the firm’s own website are worth checking directly, since each comes from the company’s own published pages rather than a third-party claim.
1. Website States Fixed 2027 Expiry, Different From SEBI’s Own Record
Every disclosure table, including the homepage footer, the dedicated SEBI Registered Research Analyst Name page, the About Us page, the Complaint Board page, and the Grievance Redressal page, states the registration is valid from June 16, 2022 to June 15, 2027. SEBI’s record lists the validity as perpetual, with no expiry date at all.
This is not a cosmetic mismatch. Perpetual validity and a five year term that lapses in 2027 are two different regulatory statuses, and the site’s version understates how the registration actually stands. It most likely reflects the site never being updated after SEBI moved this class of registration to perpetual validity, but confirm the current status directly on SEBI’s live database rather than relying on the figure the site displays.
2. A 7+Years Of Experience Claim On About Us
The About Us page contains unedited website template content, including a fictional 1998 founding date. The page includes a Company Started, New Milestone, First Award, 100 Employees timeline using generic placeholder text carried over from a stock website theme, and lists the company’s founding year as 1998, impossible to reconcile with a firm SEBI registered in 2022 and marketed elsewhere on the same site as having 7 plus years of experience.
3. Contact Details Disclosed On Website Doesn’t Match SEBI’s Records
The contact number shown against the registered office does not match SEBI’s own listed telephone details. SEBI’s record lists the registered telephone, matching the number the site separately attributes to CEO and Principal Officer Akashdeep Chandel. But the Contact Details field in the site’s main disclosure table, positioned directly against the registered office address where an investor would expect SEBI’s own listed number, instead shows a different number, which the Grievance Redressal page attributes to Compliance Officer Subodh Jain.
The number presented as the entity’s headline disclosure contact is not the one SEBI has on file for that role, which matters if you are trying to reach the correct person for a regulatory matter rather than a general sales query.
Investomania Research Services: Fake or Real?
Putting the registration, the pricing, the complaint data, and the website inconsistencies together gives a more complete answer than any single piece on its own.
Investomania Research is a genuinely SEBI-registered firm. That much is real and independently verifiable. The registration number, the contact person, and the registered address all cross-check correctly against SEBI’s own database.
What is harder to call entirely clean is everything sitting alongside that registration. A pricing structure that keeps yearly plans at the cap while letting monthly plans run to nearly five times it. A complaint table that looks spotless but rests entirely on self-reported, unaudited data. A website that gets its own registration expiry wrong, carries a fabricated company history, and lists the wrong contact number against its own registered office.
None of these individually prove the firm is fake. Together, they describe a registered firm that has not been careful, consistent, or fully transparent about its own basic facts, which is a reasonable standard to expect from any firm asking for your money before its pricing, its history, or its contact details are even checked.
How Do You File a Complaint Against Investomania Research?
If your own experience with Investomania Research has not matched what was promised, or if you were charged under one of the monthly or quarterly plans without realising the annual cost exceeded SEBI’s cap, a defined escalation path is available.
Start by saving your payment receipts for whichever plan and billing frequency you subscribed to, along with any messages or calls describing what was promised.
Write to Investomania Research directly, using the correct contact details confirmed on this page rather than the mismatched number on the firm’s own disclosure table, and give the firm time to respond in writing before escalating.
If the response is unsatisfactory, file a SEBI SCORES complaint using registration number INH000009898, attaching your payment records and the pricing evidence above if your complaint relates to the fee cap.
But if SCORES does not resolve the matter, SMART ODR offers structured online mediation as the next stage.
If your issue involves a different Research Analyst entirely, the complaint against SEBI registered research analyst page on this site covers that broader process.
Charged more than expected on a monthly Investomania Research plan?
We check your billing against SEBI’s fee cap, confirm whether it qualifies as a valid complaint, and prepare your SCORES filing from start to finish. Register with us for a free consultation.
Conclusion
Investomania Research holds a genuine SEBI registration, and its yearly pricing sits within SEBI’s fee cap. Both of those facts are real and checkable.
What sits alongside them is a monthly and quarterly pricing structure that annualises to several times the cap, a clean complaint table that rests entirely on self-reported data, and three separate inconsistencies on the firm’s own website. None of this proves wrongdoing on its own, but none of it should be ignored either.
Verify the registration yourself, read the pricing table against SEBI’s cap before choosing a billing frequency, and check the firm’s contact details independently rather than relying on what its own disclosure page shows.
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Frequently Asked Questions
Yes. Investomania Research Services Private Limited holds SEBI Research Analyst registration INH000009898, active since June 16, 2022, on a perpetual basis, with Akashdeep Chandel listed as the contact person.
Its yearly plans sit at or under the cap, but its monthly and quarterly options do not. The HNI Cash monthly plan, for example, annualises to Rs 7,20,000, nearly 4.8 times SEBI's Rs 1,51,000 annual limit.
Its disclosure shows one complaint per year for three consecutive years, all resolved with none pending. This is a self-reported figure that SEBI does not independently audit before publication.
The website states the registration is valid until June 15, 2027, but SEBI's own record shows perpetual validity with no expiry. This likely reflects the site not being updated after SEBI changed this registration class to perpetual.
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