Quick Summary
Rio Capital Investment Advisor, operated by Bhini Chauhan from Indore, holds SEBI investment adviser registration INA000013402, valid since 31 May 2019 and perpetual. It lists two plans, Basic at ₹11,800 a month and Ultra at ₹90,000 a quarter or ₹1,51,000 plus GST a year. Its latest complaint data is for May 2025, which shows one resolved complaint. The website calls the firm a research house as well. We found no SEBI order against it as of 17 October 2026, which is not a clean certificate.
You may have seen Rio Capital advertised for intraday option and cash calls, with plans that look reasonably priced at first glance.
The fee list is shown openly, which is a point in its favour, and it also gives you something concrete to test against SEBI’s rules. This blog looks at Rio Capital Investment Advisor through its own disclosures.
We cover the registration, the plan prices against the fee cap, the complaint tables and the way the website describes itself, then turn the gaps into questions you can send in writing.
What Is Rio Capital Investment Advisor and What Do Its Services Include?
Rio Capital Investment Advisor presents itself as a SEBI registered investment adviser operated by Bhini Chauhan.
The office is in Indore, Madhya Pradesh.
The website says its approach is to understand clients’ financial objectives and tailor services to their needs.
It also talks about investment expertise, strategic insights and the use of market insights and technology.
The Services Listed
The services are Stock Option, Option Ultra, Stock Cash, Cash Ultra, Stock Future, Index Option and HNI services.
They cover intraday, ultra short term and short to medium term trading or investment categories.
The website does not describe each service in detail or explain what a client receives. So the names tell you the product type and little about the actual advice.
Minimum Amounts
The site states a minimum investment of ₹50,000 for Stock Option.
For Option Ultra, Stock Cash, Cash Ultra and Stock Future the minimum is ₹2,00,000.
These look like the capital a client is expected to deploy when acting on the advice.
Ask whether the minimum is a requirement of the advisory or only a suggestion.
Trading Style
Intraday and ultra short term calls in options and futures move fast.
SEBI’s own studies on individual derivatives traders have found that most lose money over time, and that is general context and not a statement about this adviser’s results.
Ask for the risk profile record that justified recommending these products to you.
Is Rio Capital Investment Advisor SEBI Registered?
The research shows the firm listed as a registered investment adviser.
Each point below is what the listing shows, and you should confirm it yourself before relying on this page.
- Registration number is INA000013402. The INA prefix marks an investment adviser, unlike INH for a research analyst or INP for a portfolio manager.
- Registered name is Rio Capital Investment Advisor, with Bhini Chauhan as the contact person. Ask whether it is a proprietorship, since that decides who answers for the advice.
- Validity runs from 31 May 2019 and is listed as perpetual. The registration is about seven years old.
- Address is Prakosht No. 207, Krishna Business Center, Plot No. 11, Scheme No. 54, Indore 452001, with the same correspondence address.
- Email on the listing is a general Gmail address, and not one on a firm owned domain. That is not unusual for a small adviser, but it makes it more useful to confirm the official channels.
You can check all this in a few minutes.
A SEBI investment advisor registration list lets you search by INA000013402, compare the name and category, and see whether the status is active.
A SEBI registration number search on the regulator’s own pages does the same job.
Do it before you pay anyone, and save a dated screenshot.
Registration shows that a firm may give investment advice. It does not describe the quality of advice or the fee.
Are Rio Capital Investment Advisor Fees Within SEBI Limits?
Rio Capital does show its prices, which many sites do not. The table below is how the website lists them.
| Plan | Monthly | Quarterly | Yearly |
| Basic Services | ₹11,800 | Not available | Not specified |
| Ultra Services | Not available | ₹90,000 | ₹1,51,000 plus GST |
SEBI sets a ceiling on what an adviser can charge in fixed fee mode.
The cap is ₹1,51,000 per client per family per year, and GST is treated separately.
The Ultra Yearly Price
The yearly Ultra price of ₹1,51,000 plus GST is the cap plus GST. At 18 percent that comes to ₹1,78,180 in all.
The research doc suggested this could exceed the cap.
On our reading, a base fee equal to the cap does not breach it, and the GST sits on top. Still, confirm in writing how GST is shown on the invoice.
The Ultra Quarterly Price
The quarterly price is ₹90,000. Two quarters come to ₹1,80,000 and four come to ₹3,60,000.
The cap covers what one client pays across a year.
So ask how the firm treats a client who renews for a second or third quarter, and whether the ₹90,000 includes GST.
The Basic Monthly Price
Basic is ₹11,800 a month, which is ₹1,41,600 over twelve months. That sits just under the cap.
The figure ₹11,800 happens to equal ₹10,000 plus 18 percent GST.
If so, the base fee is ₹1,20,000 a year, but the website does not say, so ask.
Taking More Than One Plan
The cap is per client across everything the adviser charges.
A client who took Basic for twelve months at ₹1,41,600 and also bought a yearly Ultra plan at ₹1,51,000 would pay ₹2,92,600 before GST.
We cannot say how Rio Capital handles this.
Ask how the firm tracks each client’s yearly total.
What The Plans Include
The website prices only Basic and Ultra, yet it lists seven services.
It does not say which services belong to which plan, or what separates the two.
Ask for a written table that maps each service to a plan, with the calls, timing and format for each.
Paid for a plan and unsure if the fee was within SEBI’s limit?
Our team reviews your payment proof and the plan details, drafts a written grievance to the adviser, and takes it to the right SEBI channel if the reply falls short. Register with us for a free consultation.
Before You Pay
Take these four steps first, since each costs nothing.
- Ask for the fee per plan in rupees, with GST on a separate line.
- Ask what happens if you renew for another quarter or year.
- Ask for the refund terms if you stop midway.
- Ask for the payment account name and match it to the registered name.
Rio Capital Investment Advisor Complaints Data and Missing Updates
The firm publishes a monthly trend and an annual trend. We read both and added the totals ourselves.
The monthly trend covers June 2024 to May 2025, twelve months.
Eleven of them show nothing, and May 2025 shows one complaint received and one resolved.
| Period | Received | Resolved | Pending |
| June 2024 to April 2025 (eleven months) | 0 | 0 | 0 |
| May 2025 | 1 | 1 | 0 |
| Total across twelve months | 1 | 1 | 0 |
The annual trend lists FY 2020-21 to FY 2024-25.
| Financial year | Carried forward | Received | Resolved | Pending |
| 2020-21 | 0 | 0 | 0 | 0 |
| 2021-22 | 0 | 0 | 0 | 0 |
| 2022-23 | 0 | 0 | 0 | 0 |
| 2023-24 | 0 | 0 | 0 | 0 |
| 2024-25 | 0 | 1 | 1 | 0 |
The Data Stops At May 2025
The latest monthly figure on the website is May 2025.
SEBI expects advisers to update complaint data by the 7th of each month, so a figure for September 2026 should have appeared by 7 October.
That leaves around sixteen months without a published update, if the page is as we saw it.
The page may have changed, so check it again and ask the adviser for the current record.
Which Year Holds the Complaint?
May 2025 falls in FY 2025-26, which begins in April 2025.
The annual table’s only complaint sits in FY 2024-25, and there is no row for FY 2025-26.
The monthly table starts in June 2024, so it does not show April or May 2024.
There are two ways to read this.
It may be two separate complaints, one in the first two months of FY 2024-25 and one in May 2025, or one complaint may be placed under a different year in each table.
The tables do not tell us which, so it is a fair question for the adviser.
The Years Before FY 2020-21
Registration began in May 2019, yet the annual table starts at FY 2020-21.
The months from registration to March 2020 are not shown, and the website does not explain why.
How To Read the Record?
One complaint, closed, with nothing pending, is a small record. It also cannot be called current when it ends in May 2025.
The tables do not say what the complaint was about.
A record that stops in 2025 cannot show how clients fared since.
If you ever need to raise a case, the guide on a complaint against investment advisor shows how such cases usually run, and it helps to know that before you commit money.
A search of SEBI’s public records found no SEBI order against Rio Capital Investment Advisor, Indore as of 17 October 2026.
That is not a clean certificate, because orders can be published later and our search was limited.
Is Rio Capital Investment Advisor a Research House or an Adviser?
Rio Capital Investment Advisor Indore website describes the firm as a research house providing trading tips and recommendations across equity, futures and options, commodities and other segments.
It also says it is a SEBI registered investment adviser.
Those are different regulated activities. A research analyst carries the INH prefix and an investment adviser carries INA.
Why the Wording Matters
The phrase research house and the phrase trading tips can blur what you are buying.
Advice to you must rest on your risk profile and suitability, which general tips do not.
Ask the firm to confirm in writing that it advises under INA000013402 and to say whether it also holds an INH registration.
Broad Disclaimers
The website’s disclaimer says information may not be accurate or complete and that the adviser has not independently verified everything.
Such lines are common, though they sit awkwardly beside a service you pay for.
Ask how the firm checks the data behind its calls and who takes responsibility for it.
What Does Rio Capital Website Say On Calls, SMS and Social Media?
The website says it may contact people by phone or SMS even if their numbers are registered under Do Not Disturb.
That is a point to weigh, since you may not want unsolicited contact.
You can ask in writing to be left off call lists, and keep the request. If calls continue after that, note the dates.
The Social Media Links
The site lists Facebook, Instagram, Twitter and Skype, and the research found that the links did not lead anywhere.
A working social page helps you check that a firm is genuine.
Ask the firm for its official social pages, if any, and rely only on those.
Checking Who Is Contacting You
Impersonators sometimes use the names of registered advisers.
Verify any caller by asking for the registration number and matching it to the listing, then reply only on the email in the SEBI record.
Are Rio Capital Investment Advisor Reviews Available Online?
The research for this blog did not include client reviews.
We have not described any, and a missing review should not be read as a good or bad sign.
Look for dated reviews on more than one platform.
Any review you read is an individual opinion that we have not verified, and the firm may dispute it.
What Should You Confirm With Rio Capital Before Choosing a Plan?
The gaps above can be turned into a short list.
Send these by email so you have a written reply, and wait for the answers before any money moves.
1. What is my total fee for twelve months?
Ask for the full amount across every plan you would take, with GST shown separately. Compare it with the ₹1,51,000 cap.
2. Which services does each plan cover?
Ask for a table that maps the seven services to Basic and Ultra, with the calls and timing for each.
3. Where is the current complaint data?
Ask for the monthly figures after May 2025 and for an explanation of the year in which the one complaint falls.
4. Can I have the agreement and MITC now?
Ask for both documents before payment, and keep the email as proof of when they arrived.
5. How are disputes settled?
Ask whether the agreement sends disputes to arbitration. Reading about arbitration in share market cases first helps you judge what such a clause would mean for you.
Rio Capital Investment Advisor Contact Details and Complaint Process
The listing shows a phone number, a Gmail address and Bhini Chauhan as the contact person.
The research does not show a separate grievance officer.
Write by email so you have a trail.
State your name, payment reference, the issue and the outcome you want in a reasonable time.
If the adviser does not reply or you disagree with the answer, the regulator’s online system is the usual next step.
The page on the SCORES SEBI complaint route covers what to attach and how a case moves after you file.
Keep every reply you get on that system, since they matter if the case has to go further.
For a payment disagreement that stays open, there is another route.
The SMART ODR portal brings in a neutral conciliator to go through your papers with you, so keep receipts and replies together.
Disclaimer
This blog is based on the firm’s published disclosures and publicly available SEBI records as of 17 October 2026. It does not allege wrongdoing, and the firm is welcome to share its side. We could not independently confirm how the listed prices are applied to individual clients, whether the prices include GST, the current state of the complaint tables, the year in which the reported complaint falls, or the content of any agreement beyond what the research showed.
Conclusion
Rio Capital Investment Advisor holds a SEBI investment adviser registration and publishes its prices, which is a start.
The harder part is that its quarterly Ultra price can pass the yearly cap on repeat, its complaint data stops in May 2025, and the website mixes research house language with adviser wording.
Before you pay, ask for your yearly total with GST, the plan wise service table, the MITC and the agreement. Keep every answer in writing.
Check the registration yourself and match the payment account to the registered name.
If the firm answers openly and quickly, you have a better basis to decide.
If a dispute arises later, write to the adviser first and then use the escalation routes in order.
Keep your receipts, emails and screenshots in one folder.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
The research shows it as an investment adviser under INA000013402, valid from 31 May 2019 and listed as perpetual. Confirm the details on SEBI's website and match the name on any payment page.
The website lists Basic at ₹11,800 a month, Ultra at ₹90,000 a quarter and Ultra at ₹1,51,000 plus GST a year. Ask how repeat quarters and GST are treated against SEBI's ₹1,51,000 cap.
The latest monthly table is May 2025 and shows one complaint received and resolved. The annual table shows one in FY 2024-25. Ask the adviser for current figures.
The website uses both terms. It states a SEBI investment adviser registration, INA000013402, so ask the firm to confirm in writing which registration covers the service you are offered.
The website says it may call or message even numbers registered under Do Not Disturb. You can ask in writing to be removed from call lists and keep the dates of any further contact.
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