Quick Summary
Sungrow Research and Financial Services Private Limited holds SEBI Research Analyst registration INH000014067, active since December 2023, based in Jhansi, Uttar Pradesh. Its Long Term plan is priced at exactly ₹1,51,000 a year, the precise SEBI ceiling, with zero margin either way. Two other plans, Intraday and BTST/Short Term, actually breach the limit once annualised. Its monthly complaint table also lists the months out of order, with January 2025 appearing between February 2026 and December 2025.
Sungrow Research and Financial Services Private Limited holds SEBI Research Analyst registration INH000014067, active since 18 December 2023, run by directors including Diwakar Kumar Gupta.
The registration is genuine. Its pricing tells three different stories depending on which plan you’re looking at: one that’s fine, two that breach the limit, and one priced at the exact ceiling itself.
This page walks through the registration, all four pricing plans checked properly, and a complaint disclosure with its months out of sequence.
Sungrow Research and Financial Services
Sungrow Research provides trading and investment recommendations across intraday, BTST, mid-term, and long-term segments in the Indian equity market.
Its stated approach involves assessing company financials and management information before selecting stocks, with a quality-over-quantity positioning rather than high-volume tips.
Services include a dedicated relationship manager, phone and WhatsApp support, and free investor education.
None of this establishes wrongdoing on its own.
What matters is whether the pricing and disclosures actually hold up.
Is Sungrow Research SEBI Registered?
Yes, confirmed directly on the firm’s own site and its published disclosure document.
| Detail | Information |
|---|---|
| Name | Sungrow Research and Financial Services Private Limited |
| SEBI Registration Number | INH000014067 |
| Validity | 18 December 2023, Perpetual |
| Address | H. No. 465/15C, Dadiyapura, Near Bapu ka Tapu Medical, Jhansi, Uttar Pradesh 284001 |
| Contact Person | Diwakar Gupta |
| Email Name | sungrowresearch |
An INH number means Research Analyst. It permits publishing research to a general subscriber base.
It doesn’t permit personalised advice built around one client’s own finances, trade execution, or portfolio management.
This registration sits with a private limited company, not an individual.
Corporate records list three directors behind the entity: Prem Lata Bisht, Shubham Verma, and Diwakar Kumar Gupta.
Does Sungrow Research Pricing Breach The ₹1,51,000 SEBI Fee Cap?
Four plans, four different outcomes once you check them properly.
SEBI allows a Research Analyst to charge at most ₹1,51,000 a year, per client family, excluding GST.
The Published Price List
| Plan | Price, Excl. GST | Cycle |
|---|---|---|
| Intraday | ₹15,000 | Monthly |
| BTST / Short Term | ₹40,000 | Quarterly |
| Mid Term | ₹75,000 | Half-Yearly |
| Long Term | ₹1,51,000 | Yearly |
Two Plans Breach the Limit
Intraday, renewed monthly for a year, comes to ₹1,80,000, over the ceiling by ₹29,000.
BTST / Short Term, renewed quarterly, comes to ₹1,60,000, over by ₹9,000.
Mid Term Sits Just Under; Long Term Sits Exactly On It
Mid Term, billed twice a year, comes to ₹1,50,000, just ₹1,000 under the ceiling.
Long Term is priced at exactly ₹1,51,000, matching the SEBI limit precisely, to the rupee.
A price landing exactly on the regulatory ceiling isn’t a coincidence worth ignoring.
It suggests the ceiling itself was the starting point for setting the fee, rather than the fee being based on the actual value of a year of research.
It leaves zero room for anything else, including GST if that were somehow calculated differently, or any add-on charged alongside it.
If you’re on the Long Term plan, don’t assume there’s any margin at all.
Any additional charge, of any kind, would push the real annual cost over the legal limit.
Also Read: Sumit Khare has a plan that costs ₹20,000 per month, which becomes ₹2,40,000 annually when the recurring fee is calculated.
What Does Sungrow Research’s Complaint Data Show?
The numbers themselves are light: one complaint total. The way the table presents them is worth a closer look.
| Year | Received | Resolved | Pending |
|---|---|---|---|
| 2023-24 | 0 | 0 | 0 |
| 2024-25 | 0 | 0 | 0 |
| 2025-26 | 1 | 1 | 0 |
| Total | 1 | 1 | 0 |
One complaint since registration, resolved. That’s a genuinely light record, worth stating plainly.
The monthly trend table has a real presentation problem, though.
Listed in order, it runs July 2026, June 2026, May 2026, where the single complaint actually appears, April 2026 back through February 2026, and then, out of nowhere, January 2025 sits between February 2026 and December 2025.
That single row is out of sequence with everything around it, making the table harder to read accurately than it should be for something meant to give investors a clear complaint history.
Separately, the current complaint status is dated August 2026, but the monthly trend table itself stops at July 2026, meaning the most recent month isn’t actually reflected in the detailed table.
Does Sungrow Research’s Website Language Cross a Line?
The pricing pages use return-focused language including “Reasonable Return,” “Descent Returns,” and a strategy positioned to “beat index returns,” setting expectations around outcomes rather than describing the research process itself.
The site also uses “safest and most secure investment guidance” and “approachable profit” phrases that lean toward certainty a research service can’t actually promise.
One small detail is worth a mention too.
The “How We Work?” section on Sungrow Research’s site repeats the same “friendly interaction” bullet twice, word for word, a sign the page hasn’t been carefully reviewed.
The last bullet also leans into outcome language, calling the service “result-oriented” and promising “pure satisfaction.”
It repeatedly describes its offering as “guidance,” “counselling,” and helping clients reach their “financial targets,” language that blurs the line between general research and the kind of personalised advisory that a Research Analyst registration doesn’t actually cover.
Also Read: Sudip Brahmachary website promotes phrases such as “A Grade researched calls only” and premium channel services without any disclosure or records.
How To File a Complaint Against Sungrow Research?
Given the Long Term plan’s zero-margin pricing and the two plans that already breach the limit, a complaint here has firmer ground than a dispute over research quality alone.
Write to the RA firm’s email ID directly, describing exactly what you were told, what you paid, and what you want resolved.
If that doesn’t resolve things, here’s where the matter goes next.
- File your complaint on the SEBI SCORES complaint portal.
- If SCORES alone doesn’t settle it, the SMART ODR registration platform brings in a neutral party next.
- Where that still doesn’t resolve things, Share Market Arbitration produces a binding decision.
For the full walkthrough of every stage, our guide to a complaint against a SEBI registered research analyst covers the entire process in order.
Paying for a plan priced at exactly the legal limit, with nothing to spare?
We’ll check your actual total against the SEBI ceiling and help you put your case on record properly. Register with us for a free look at your situation.
Disclaimer
Everything above comes from Sungrow Research’s own published material.
Nothing here accuses the firm of wrongdoing, and no SEBI order currently stands against it.
Confirm every detail yourself before acting on it. This page is meant to help you ask better questions, not to replace a lawyer or a financial adviser.
Conclusion
Sungrow Research and Financial Services Private Limited holds a genuine SEBI registration, INH000014067, active since December 2023.
Two of its four plans, Intraday and BTST / Short Term, breach the SEBI fee cap once annualised.
Its Long Term plan is priced at exactly the ceiling, leaving no margin at all, and its complaint table lists at least one month clearly out of sequence.
Check your real annual cost against ₹1,51,000 directly, and don’t assume the Long Term plan has any room to spare.
Report. Recover. Stay Fraud Free.
Frequently Asked Questions
Yes, held by Sungrow Research and Financial Services Private Limited since December 2023, confirmed directly on the firm's own site and disclosure document.
Intraday and BTST / Short Term both breach it once annualised. Mid Term stays just under the limit, and Long Term sits at exactly ₹1,51,000.
Yes, but with zero margin. It's priced at exactly the SEBI ceiling, leaving no room for any additional charge of any kind.
Mostly, though one row is out of sequence. January 2025 appears between February 2026 and December 2025 in the monthly trend table.
A private limited company, with three named directors on record, not a sole proprietorship.
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