In a regulatory development, 5paisa Capital Limited, one of India’s prominent fintech and online broking platforms, has been advised by the Securities and Exchange Board of India (SEBI) to surrender its Research Analyst Registration Certificate after failing to renew it within the stipulated timeframe.
The advisory was communicated by SEBI via email on October 28, 2025, following prior correspondence about the expiry of the registration and a Show Cause Notice issued under Section 12(3) of the SEBI Act, 1992. The company has been directed to submit an online application for surrender through the BSE portal.
Reason for surrender
The regulator’s directive stems from non-compliance with the renewal requirements laid out in the SEBI (Research Analysts) Regulations, 2014.
According to Clause 3 of the Second Schedule of the regulations, every research analyst must:
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Pay the prescribed renewal fees every five years from the date of registration, and
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Ensure payment within three months prior to the expiry of the certificate’s validity.
5paisa Capital, however, failed to remit the renewal fees on time, leading to the expiry of its Research Analyst Certificate.
Impact on business
Despite the regulatory advisory, 5paisa Capital clarified that the move would have no significant impact on its operations or financial performance.
In a statement to the exchanges, the company said:
“Research Analyst activity is not a core business segment of the company. The surrender of the Research Analyst Certificate does not have any material impact on the operations or financials of 5paisa Capital Limited.”
The company emphasized that its core fintech, broking, and investment services will continue without disruption.
Company’s response and compliance stance
5paisa Capital has assured SEBI that it will initiate the process to surrender the certificate as advised and reiterated its commitment to maintaining robust corporate governance and full compliance with SEBI Listing Regulations.
The company noted that it remains focused on strengthening its core fintech offerings, including digital brokerage, mutual fund distribution, and financial advisory services, to enhance customer experience and market competitiveness.
As India’s fintech ecosystem continues to evolve under tighter regulatory oversight, 5paisa Capital’s compliance action highlights the increasing emphasis on timely regulatory renewals and adherence to operational transparency within the sector.
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