Disclosures
Regulatory disclosures and compliance information
About the Research Analyst Entity
Springpad Wealth Solutions Private Limited ("Springpad") is a SEBI-registered Research Analyst entity, incorporated under the Companies Act, 2013, and having its registered office at Kolkata, West Bengal, India.
Springpad Wealth Solutions Private Limited is registered with the Securities and Exchange Board of India (SEBI)as a Research Analyst under Registration No. INH000022950, and enlisted with BSE (Enlistment No. 6743), pursuant to which it provides research and analytical insights on listed securities, asset classes, and investment strategies.
About the Promoters and Research Team
Springpad's research and advisory functions are managed by qualified professionals with strong academic and analytical backgrounds in Finance, Economics, and Quantitative Research.
Our team specializes in both fundamental and technical analysis and leverages data-driven frameworks to generate unbiased research insights.
All research recommendations, views, and opinions published by Springpad are based on independent analysis and professional judgment as of the date of publication.
Nature of Business Activities
Springpad Wealth Solutions Private Limited provides research reports, market outlooks, and investment insights on listed equities, derivatives, and related financial instruments.
Our research may include buy, sell, or hold recommendations, along with educational and analytical commentary intended to aid investors' understanding of the markets.
Important: All opinions are issued solely for informational purposes and are not investment advice or portfolio management services. Investors are advised to exercise independent judgment before making investment decisions.
Disciplinary History
There are no pending litigations, disciplinary actions, or proceedings against Springpad Wealth Solutions Private Limited or its directors under SEBI regulations, any other regulatory authority, or any court of law in India or abroad.
Terms and Conditions for Research Publications
Springpad has exercised due diligence in verifying the accuracy, reliability, and authenticity of the information contained in its reports and insights, based on data available from public sources, company disclosures, and third-party providers considered reliable.
However, Springpad does not guarantee the completeness, accuracy, or timeliness of such information.
Opinions expressed are based on information available as of the publication date and are subject to change without notice.
The Company does not accept liability for any direct or indirect losses arising from the use of its reports or information therein. Investors are strongly advised to perform independent analysis and seek professional advice before making investment decisions.
Conflict of Interest Disclosure
As of the date of publication of this disclosure:
- Springpad Wealth Solutions Private Limited does not hold any financial interest in the securities or companies covered by its research.
- Neither the Company nor its associates have beneficial ownership of 1% or more in the securities covered.
- There is no material conflict of interest at the time of publication of any research report.
- The Company and its research analysts are not affiliated with any brokerage firm, investment adviser, or intermediary that may benefit from the research content.
- The Company and its associates have not received any compensation from the companies covered in its research during the preceding twelve months.
- The Company and its associates have not managed or co-managed any public offering of securities of the companies covered in its research during the past twelve months.
- The Company and its employees have not served as officers, directors, or employees of any company covered by its research.
- The Company has not engaged in market-making activities for any of the companies it covers.
Use of Artificial Intelligence Tools
Disclosure of AI Tool Usage in Research Services
In accordance with Regulation 19(vii) and Regulation 24(7) of the SEBI (Research Analysts) Regulations, 2014, Springpad Wealth Solutions Private Limited hereby discloses the extent of use of Artificial Intelligence tools in providing research services.
Extent of AI Usage:
Springpad Wealth Solutions Private Limited may use artificial intelligence tools, irrespective of the scale and scenario of adoption, for servicing its clients. The AI tools are used to assist in data analysis, pattern recognition, market trend analysis, and generating research insights. However, all final research reports and recommendations are reviewed and approved by qualified research analysts.
Responsibilities:
The Research Analyst is solely responsible for:
- The security, confidentiality, and integrity of client data
- The use of any information or data for research services
- Research services based on output of Artificial Intelligence tools
- Compliance with all applicable laws and regulations
Client Data Protection:
All client data used in AI tools is processed in accordance with applicable data protection laws and SEBI regulations. We maintain strict confidentiality and security measures to protect client information.
Continuous Disclosure:
This disclosure is provided at the time of disclosing the terms and conditions of research services. We will make additional disclosures whenever required or if there are material changes in our AI usage.
Source of Information
All data, charts, and company information used in Springpad's research are obtained from sources such as company filings, public records, financial databases, and market data vendors believed to be reliable.
However, the Company does not represent that such information is accurate or complete and disclaims any responsibility for errors or omissions.
Investors are advised to independently verify the facts and conduct their own analysis before acting on any research or recommendation published by Springpad.
KYC & Records Maintenance
In accordance with Regulation 25(1) of the SEBI (Research Analysts) Regulations, 2014, Springpad will follow KYC procedures for fee-paying clients and maintain records of client interactions (including physical records signed by the client, call recordings, registered email communications, SMS records, and any other legally verifiable records) beginning with the first interaction and continuing until the completion of research services.
Such records are retained for a minimum period of five (5) years. Where a dispute has been raised, records shall be retained until resolution of the dispute. If SEBI requires specific records to be preserved, they will be retained until further intimation from SEBI.
Services Provided for Consideration
As interpreted under the SEBI (Research Analysts) Regulations, 2014, research services provided to any client availing other services from a SEBI-registered intermediary within the group may be treated as services provided for consideration, even if a separate fee is not charged directly for the research.
Model Portfolio (If Offered)
If Springpad provides recommendations of model portfolios, such model portfolio reports will include a factsheet outlining disclosures, rationale, methodology, launch date, update dates, and the type of model portfolio. Opinions on constituent securities will be consistent with opinions about those securities individually.
- Methodology & Labelling: Reports will define the selection framework (e.g., fundamental/technical), underlying universe/theme/sector, and be true-to-label with clear investment objectives.
- Investment Horizon & Updates: Investment horizon and rebalance frequency will be specified in advance; any rebalancing will be communicated with underlying rationale.
- Risk & Benchmarking: Risk disclosures will be provided and performance will be benchmarked against appropriate indices, validated by a SEBI-specified agency/body.
- Audit: Compliance with model portfolio obligations is covered under the annual compliance audit.
Compliance Audit Requirements
As per regulation 25(3) of the SEBI (Research Analysts) Regulations, 2014, Springpad Wealth Solutions Private Limited conducts annual compliance audit in respect of compliance with RA Regulations.
Annual Compliance Audit Process:
- Audit Completion: Annual compliance audit is completed within six months from the end of each financial year (i.e., by September 30th for the previous financial year ending March 31st)
- Audit Report Submission: Compliance audit report is submitted to RAASB/SEBI within a period of one month from the date of the audit report
- Adverse Findings: Any adverse findings of audit, along with action taken thereof duly approved by the management, are submitted to RAASB/SEBI within a period of one month from the date of the audit report but not later than October 31st of each year
- Client-Level Segregation Certificate: An annual certificate from a member of ICAI/ICSI/ICMAI or from an auditor confirming compliance with client level segregation requirements is maintained on record and forms part of the compliance audit
- Website Publication: The status of the compliance audit report is published on our website. Any adverse findings of audit, along with the action taken thereof, are also published on our website
- Client Access: The compliance audit report is provided to our clients upon request
Current Audit Status: Compliance audit reports starting from the financial year ending March 31, 2025, will be published on this website as per SEBI requirements. For access to compliance audit reports, please contact our compliance officer.
Client-Level Segregation
In accordance with Regulation 26C(5) of the SEBI (Research Analysts) Regulations, 2014, Springpad Wealth Solutions Private Limited maintains client-level segregation at research analyst's or research entity's group/family level.
Segregation Rules:
- Existing Clients: Existing clients who wish to avail services of the RA will not be eligible for availing distribution services within the group/family of the RA. Similarly, existing clients who wish to take distribution services will not be eligible for availing research services within the group/family of the RA
- New Clients: A new client will be eligible to avail either research services or distribution services within the group/family of RA. However, the option to avail either research services or distribution services shall be made available to such client at the time of on-boarding
- Existing Holdings: The client shall have discretion to continue holding assets prior to the applicability of this segregation under the existing research/distribution arrangement. However, the client shall not be forced to liquidate/switch such existing holdings
- Control Record: PAN of each client shall be the control record for identification and client-level segregation. In case of an individual client, "family of client" shall be reckoned as a single client and PAN of all members in "family of client" would jointly and severally be the control record
- Stock Broking: Stock broking is not considered as distribution activity for the purpose of regulation 26C of RA Regulations
- Institutional Clients: RAs providing research services exclusively to institutional clients and accredited investors may not be subject to compliance with the requirements of segregation of research and distribution activities provided that the client/investor signs a standard waiver stating the above
Annual Certification: RA maintains on record an annual certificate from a member of ICAI/ICSI/ICMAI or from an auditor (in case of individual RA)/statutory auditor (in case of a non-individual RA or research entity) confirming compliance with the client-level segregation requirements. Such annual certificate is obtained within six months from the end of the financial year starting from the financial year ending March 31, 2025, and forms part of compliance audit.
Disclaimer
Investments in securities markets are subject to market risks. Past performance is not indicative of future returns.
The research content published by Springpad Wealth Solutions Private Limited is intended for educational and informational purposes only and should not be construed as investment advice.
Springpad and its representatives are not responsible for any financial loss or damage arising from reliance on the research material or opinions expressed therein.
Contact Information
Compliance Officer
Mr. Aman Kumar Khandelia
Springpad Wealth Solutions Private Limited
Email: compliance@springpadwealth.com
SEBI Registration No.: INH000022950
BSE Enlistment No.: 6743
Investor Grievance Redressal
Investors may register complaints against the Research Analyst through the SEBI SCORES platform at https://scores.gov.in.
Regulatory Compliance
All disclosures are made in accordance with SEBI (Research Analyst) Regulations, 2014 and amendments thereof. This document is updated periodically to reflect any material changes. Please visit our website regularly for the latest information.