Quick Summary
Pheonix Capital Research is the trade name of Raksha Sharma, a SEBI registered research analyst (INH000022446) with an address in Udaipur, Rajasthan. The firm sells quarterly “Stock Option” call packages, with one invoice showing ₹80,000 for a single quarter, marked non refundable. Calls and updates go out over WhatsApp. Before you pay, it’s worth knowing exactly what an RA registration covers, and what it doesn’t. Here’s the full profile.
You’ve probably come across Pheonix Capital Research through a call, an ad, or a WhatsApp message offering option trading calls, and now you’re checking who’s behind it.
That’s exactly the right instinct, especially before handing over a five-figure fee for a single quarter.
On this page, we look at who owns the firm, what its SEBI registration means, what it sells, and the checks worth running before you subscribe.
If you’ve already had a bad experience and want to report financial fraud India, our team can point you to the right forum.
What Is Pheonix Capital Research?
Let’s start with the basics, because the business structure decides who is responsible for what.
Pheonix Capital Research operates as a proprietorship, not a company.
That means the registered person behind it, Raksha Sharma, is the one SEBI holds accountable for the firm’s research and conduct.
Its invoices give an address on Savina Main Road, Udaipur, Rajasthan 313002, along with the website name pheonixcapitalresearch and email addresses on the same domain.
Some of the firm’s emails spell the name “Pheonix Capital Research,” while its invoices and registration use “Pheonix.”
If you’ve searched either spelling, you’re looking at the same Udaipur-based firm in the documents we reviewed.
Who Owns Pheonix Capital Research?
People often search for the person behind a research firm, and here the answer is on public record.
SEBI’s records list Raksha Sharma as the proprietor of Pheonix Capital Research, registered as a research analyst.
In a proprietorship, the proprietor is the registered intermediary, so complaints about the firm’s service ultimately sit against that registration.
The firm also works through representatives who call and message clients.
Any representative dealing with you should be able to tell you their role, and research analysts’ staff are generally expected to hold the relevant NISM certification. It’s fair to ask.
Is Pheonix Capital Research SEBI Registered?
Yes, and it helps to understand what that registration actually allows. “SEBI registered” means “accountable under specific rules,” not “risk free.”
The firm is registered as a research analyst with registration number INH000022446. You can confirm this yourself on SEBI’s list of registered intermediaries.
A research analyst publishes research and recommendations that should be backed by research reports.
Personalised advice, built around one client’s money, goals, and risk, needs a separate investment adviser registration.
Knowing this difference helps you judge the kind of service you’re getting.
Pheonix Capital Research Services and Packages
Here’s what the firm actually sells, based on its own invoices. This tells you what you’d be paying for and on what terms.
The invoices we reviewed are for “Stock Option” service on a quarterly basis.
One of them shows ₹80,000 for the quarter from 2 July to 2 October 2026, inclusive of GST.
Each invoice lists terms that include “Payment is Non Refundable” and a note that subscription charges, once paid, aren’t refundable.
Disputes are placed under the jurisdiction of courts in Udaipur.
That non-refundable line doesn’t override SEBI’s own rules on research analyst fees.
If you’re already in a disagreement over fees or service, our page on the complaint against Pheonix Capital Research explains the refund rules and the exact route to SEBI.
According to the firm’s own email, service during an extension period is delivered through WhatsApp, with trade updates carrying a target and stop loss, and clients asked to trade only the number of lots given.
A Client Complaint Against Pheonix Capital Research
One client has formally complained about his experience with the firm. We’ve kept the full details on separate pages so each one stays focused.
In short, he paid ₹1,35,000 in fees in mid 2026 and recorded a ₹5.3 lakh options loss in his P&L for the same period.
The firm’s written reply offered a one-month extension and said no loss recovery is guaranteed. The dispute’s outcome isn’t known yet.
If you want to see what happened on the calls and chats, the Pheonix Capital Research reviews page lays out his experience along with the firm’s side.
Before You Subscribe to Pheonix Capital Research
If you haven’t paid yet, you’re in the strongest position you’ll ever be in. Run these checks first.
- Verify the registration on SEBI’s website and note the exact name and number.
- Ask for the full terms in writing before paying, especially the refund and fee sections.
- Ask the representative their role and whether they hold NISM certification.
- Record calls and keep chats, because spoken promises are hard to prove later.
- Slow down on any loss recovery pitch. It’s the moment people pay the most and think the least.
- Decide your own lot size. Never let anyone push you into quantity your capital can’t carry.
Thinking of paying Pheonix Capital Research, or already paid and unsure what you signed up for?
Send us the invoice and terms you received. We’ll tell you what to check before you go any further. Register with us for a free consultation.
Disclaimer: This page is based on the firm’s invoices and emails, SEBI’s public records, and one client’s documents shared with us with his identity removed. It makes no finding against Pheonix Capital Research or Raksha Sharma, and any dispute mentioned had not been decided at the time of writing.
Conclusion
Pheonix Capital Research is a proprietorship run by Raksha Sharma and registered with SEBI as a research analyst, selling quarterly option call packages from Udaipur.
That registration gives you rights, from written terms before payment to a formal complaint route, but it doesn’t guarantee results.
Check the registration, read the terms, keep your calls and chats, and decide your own trade size before you commit any money.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
SEBI's records list Raksha Sharma as the proprietor of Pheonix Capital Research, registered as a research analyst with number INH000022446. As a proprietorship, she is the registered intermediary.
Yes, as a research analyst with registration number INH000022446. That registration covers research and recommendations; personalised investment advice needs a separate investment adviser registration.
The firm's invoices and registration use "Pheonix," while some of its emails use "Phoenix." In the documents we reviewed, both refer to the same Udaipur based research analyst firm.
One invoice we reviewed shows ₹80,000 for a quarterly stock option package, inclusive of GST, with terms stating payment is non refundable. Ask for the full terms in writing before paying.
Its invoices give an address on Savina Main Road, Udaipur, Rajasthan 313002. Confirm the registered address on SEBI's website before you deal with the firm.
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