Quick Summary
StockBazaari holds a genuine SEBI Research Analyst registration, INH000018665, listed to Nishita Jain as proprietor, out of Indore, with BSE enlistment 6590. You can confirm it on sebi.gov.in in two minutes, and no SEBI orders appear against it in the public record. The catch sits on the firm’s own website. Its disclosure page names Nishita Jain as the research analyst, while its disclaimer page names Shubham Jain. One licence, two names. This page shows you what the registration confirms, what the name gap means for accountability, and how to verify the rest yourself.
Someone from StockBazaari gave you a SEBI number, and you want to know whether it holds up.
It does. INH000018665 is real, active, and yours to check in two minutes.
What the number cannot settle is a question the firm’s own website raises: who the registered analyst actually is, and when the firm was registered. On both, its own pages disagree with SEBI’s record.
Start with the licence, then look at what the paperwork says.
Is StockBazaari SEBI Registered or Not?
Yes. StockBazaari holds an active SEBI Research Analyst registration under number INH000018665.
The registration is held by Nishita Jain, proprietor of StockBazaari, based in Indore, Madhya Pradesh. The firm’s BSE enlistment number is 6590.
You can verify this yourself.
Go to sebi.gov.in, open Intermediaries, choose Registered Intermediaries, select Research Analyst from the dropdown, and search INH000018665.
The result confirms the name, the number, and the status. Check that it reads Active, not Suspended or Cancelled.
The registration carries perpetual validity from October 21, 2024, which means it does not expire unless SEBI suspends or cancels it, or the analyst surrenders it.
No SEBI orders, penalties, show-cause notices, or arbitration proceedings appear against this entity in the public record at the time of writing.
Where Does the Firm’s Paperwork Disagrees With SEBI?
Two details on StockBazaari’s own website do not match SEBI’s record, and both are worth knowing before you pay.
The reader who checks the firm’s paperwork against the register finds a different name in one place and a different date in another. Neither is a small typo.
Here is each one:
1. The Name
The disclosure page, which is the SEBI-mandated document meant to help investors make an informed decision, names Nishita Jain as the research analyst.
That matches the register exactly.
The disclaimer page, on the same website, names Shubham Jain as the SEBI Registered research analyst, and the site’s reproduction and copyright terms run through “Mr. Shubham Jain.”
Only Nishita Jain holds INH000018665 on SEBI’s record. Shubham Jain appears nowhere in the register under this number.
This matters for a practical reason. When you take advice from a research analyst, accountability for that advice runs through the registered person.
If the firm cannot state consistently who that person is, you cannot be certain the individual behind your recommendations is the one SEBI actually holds responsible.
2. The Date
The firm’s disclosure document states it was registered on January 31, 2024.
SEBI’s register shows validity from October 21, 2024.
Where a firm’s own paperwork disagrees with the regulator’s record, the register is the source that governs, so October 21, 2024, is the date to rely on.
Neither of these proves wrongdoing.
Both show that the firm’s own documents are not fully consistent with SEBI’s record, which is exactly the kind of thing worth resolving before you hand over money, not after.
Before paying, ask the firm directly which named individual holds INH000018665, and confirm the answer against sebi.gov.in rather than against any single page of their own site.
What Does This Registration Actually Confirm?
A SEBI Research Analyst registration is a real credential, and it is worth knowing what it proves, because it proves less than most people assume.
To register, the analyst had to hold the required NISM certification, meet a fit and proper standard, run a compliant website with the mandated disclosures, and put a compliance framework in place.
That is an entry check. It confirms the firm was eligible to operate on the day it registered.
It does not rate the research. It does not confirm the calls have worked. It does not police customer service or refunds.
And it does not, on its own, resolve which named person is answering for the advice.
There is also a scope limit worth carrying with you. A Research Analyst is permitted to publish research for a broad audience.
It is not permitted to give personalised, account-specific investment advice, which is the Investment Adviser’s domain and needs a separate registration.
Registration answers one question: Is this firm allowed to give research?
It does not answer whether it will treat you fairly, refund you, or advise you well.
Those are separate questions, and the full read on the firm’s own paperwork, including its refund terms and disclosures, is set out in our StockBazaari reviews.
What to Verify Before You Pay?
Two checks take under ten minutes between them, and both come straight from what this page has covered.
The first is the name.
Confirm on sebi.gov.in which individual holds INH000018665, and treat that as the only name that matters, whatever the firm’s various pages say.
The second is the account.
The firm’s own website warns that scammers use its name on Telegram, WhatsApp, and Instagram to collect payments into personal accounts, and states that its only authorised account is in the name StockBazaari.
So before paying, confirm the account name reads StockBazaari exactly, and never send money to a personal name or UPI ID.
If you have already paid and something has gone wrong, the grounds for a complaint and the full filing route are covered in our guide on how to complaint against StockBazaari.
Not sure the person who called you is the one the licence actually covers?
We will confirm who holds the registration, check the payment account against the register, and tell you where you stand before you commit a rupee.
Conclusion
StockBazaari is SEBI registered under INH000018665, held by Nishita Jain as proprietor, with BSE enlistment 6590, and the registration is real and verifiable.
No SEBI orders have been issued against it in the public record so far.
What the registration cannot resolve is the firm’s own paperwork disagreeing with SEBI’s record in two places, on the analyst’s name and on the registration date.
Verify the name on sebi.gov.in, confirm any payment goes to the StockBazaari account and not a personal one, and treat the registration as the floor of your due diligence, not the ceiling.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes. It holds Research Analyst registration INH000018665 under Nishita Jain, proprietor, based in Indore, with BSE enlistment 6590. You can confirm it on sebi.gov.in by searching that number and checking the status reads Active.
SEBI's register names Nishita Jain. The firm's own disclaimer page names Shubham Jain instead. Only Nishita Jain holds the registration on record, so that is the name to verify against before you pay.
SEBI's register shows validity from October 21, 2024. The firm's disclosure document claims January 31, 2024. Where they conflict, the SEBI register governs, so October 21, 2024 is the date to rely on.
No. Registration is an eligibility check, not a quality guarantee. SEBI does not verify that a firm's calls perform, and Regulation 16(b) bars any registered analyst from promising assured returns.
The firm's own site warns that scammers use its name to collect money in personal accounts. Confirm the payment account reads StockBazaari exactly, and never send money to a personal name or UPI ID.
Add us as a preferred source on Google »
