Disclaimer

Last updated: 8 September 2026

1. Who we are and our regulatory status

AlphaResearch (alpharesearch.smartailabs.in) is an independent investment-research publication operated by SmartAI Labs. It publishes written research, charts and videos on Indian markets: IPO reviews, stock and sector notes, mutual-fund explainers and data stories.

AlphaResearch and SmartAI Labs are not registered with the Securities and Exchange Board of India (SEBI) as an Investment Adviser under the SEBI (Investment Advisers) Regulations, 2013, or as a Research Analyst under the SEBI (Research Analysts) Regulations, 2014. We are not a stockbroker, sub-broker, merchant banker, portfolio manager, depository participant, mutual-fund distributor or any other SEBI-registered intermediary, and we do not hold any licence from the Reserve Bank of India, IRDAI or PFRDA.

Reading this site, watching our videos, subscribing to our feed or channel, or commenting on our content does not create an adviser–client, broker–client or any other professional relationship between you and us. We do not know who you are and we do not offer to.

2. What our content is, and what it is not

AlphaResearch publishes research with a verdict. A verdict such as “Subscribe”, “Neutral” or “Avoid”, any score, rating, price-band comment, valuation table or chart is AlphaResearch’s own independent opinion about a specific offer or security at a specific price, formed from publicly available information as of the date printed on that page or in that video.

All of it is general in nature and addressed to no one in particular. It is not personalised investment advice, and not an offer, solicitation, invitation or recommendation to buy, sell, subscribe to, hold or refrain from any security, IPO, mutual fund or other financial product. It does not take into account your investment objectives, financial situation, tax position, time horizon or risk tolerance, none of which we know. A verdict that fits the offer on paper may be entirely wrong for you.

3. No guarantee; forward-looking statements

We try to be accurate, but we give no assurance, express or implied, that any content is accurate, complete, current or fit for any purpose. Our opinions reflect our judgement on the date shown and can change without notice as new filings, subscription data, listing outcomes or market conditions arrive. We have no obligation to update, correct or withdraw anything already published, and an old verdict left online is not a fresh one.

Statements about future revenue, margins, listing gains, subscription levels or valuation multiples are forward-looking and rest on assumptions that may not hold. A company’s reported financial history, an index’s past return or the listing performance of earlier IPOs is not indicative of future results.

4. Sources and third-party data

Figures on this site are taken from the red herring prospectus (RHP), draft red herring prospectus (DRHP) or abridged prospectus filed by the issuer, stock-exchange filings and notices, and the press or broker coverage named in the Sources section of each article. Where we quote subscription data, peer multiples or anchor allocations, they come from exchange data or third-party trackers and are dated on the page that cites them.

Those documents can themselves contain errors, be restated, or be superseded by a later filing, and we may make mistakes in transcribing, converting units (lakh, crore) or computing ratios. Before you act on any number, verify it in the original filing on the SEBI, NSE or BSE website. Links to third-party websites are provided for convenience; we do not control their content and a link is not an endorsement of the site, its owner or its opinions.

5. Grey market premium (GMP)

Some IPO pages mention a grey market premium. The grey market is an informal, unofficial and unregulated over-the-counter market. Its quotes cannot be verified, are set by a small number of participants, move sharply within a day and are frequently wrong about the eventual listing price. We quote GMP only as one signal of street sentiment at the time of writing, never as a forecast of listing gains, and never as a reason to apply. AlphaResearch and its people do not participate in the grey market, and we do not encourage anyone to do so.

6. Risk warning

Investing in securities, including applying for shares in an IPO, involves risk. You can lose some or all of the money you invest. Shares may list below the issue price and may stay there; small- and mid-cap and SME listings can be illiquid, making it hard to sell at any price; allotment is not guaranteed; funds blocked under ASBA are unavailable to you until unblocked; and companies can fail. Leverage, derivatives and margin funding multiply all of these risks.

Nothing here replaces your own judgement or professional advice. Before you act on anything published by AlphaResearch, consult a SEBI-registered investment adviser or research analyst who knows your circumstances, and read the offer document, including the “Risk Factors” section, in full.

7. Positions, conflicts and independence

Each article carries a “Position disclosure” line inside its verdict stating whether AlphaResearch or the people who wrote it hold, or intend to apply for, the security discussed, and naming any listed peers that appear only as comparables. Where the line says “none”, we hold nothing in the issuer as of that page’s date.

AlphaResearch does not publish paid promotions or sponsored reviews. We have not received, and do not accept, compensation of any kind from issuers, promoters, merchant bankers, registrars, brokers, distributors or fund houses for covering, rating or omitting any offer. Our verdicts are not influenced by advertising. If any of this ever changes for a particular piece, the conflict will be disclosed prominently on that page and in the corresponding video description before or at the time of publication.

Everything on this page applies equally to AlphaResearch’s YouTube videos and Shorts, thumbnails, on-screen text, video descriptions, pinned and reply comments, community posts, and any copy of our content syndicated through RSS or reproduced on another platform. Video titles or thumbnails phrased as a question — “Apply or Not?”, “Worth It?” — are the search phrasing people actually type; they are not advice to any viewer, and the answer inside is our opinion under the terms above.

We do not give buy, sell or apply instructions in comments, chats or direct messages, and we never ask for money, account details or OTPs. Anyone doing so in our name is an impersonator; please report them to the platform.

9. Limitation of liability

To the fullest extent permitted by applicable law, AlphaResearch, SmartAI Labs, and their owners, directors, employees, contributors and contractors shall not be liable for any loss or damage of any kind — direct, indirect, incidental, consequential, special or punitive, including loss of capital, lost profits, missed allotments or opportunity cost — arising out of or in connection with your access to, reliance on, or inability to access any content published by AlphaResearch, even if we were told the possibility of such loss existed. You use this site and our videos entirely at your own risk, and any decision you make on the basis of our content is yours alone.

10. Intellectual property

Unless otherwise stated, all text, charts, tables, thumbnails, video storyboards, scripts and code on this site are © AlphaResearch / SmartAI Labs. You may quote short excerpts for commentary, criticism or news reporting provided you attribute them to AlphaResearch and link to the source page. Republishing a page, video or substantial part of either — on a website, app, newsletter, channel or messaging group — without our written permission is not allowed. Company names, tickers and logos belong to their respective owners and are used only to identify the securities discussed.

11. Governing law and jurisdiction

This disclaimer, and any dispute arising from your use of AlphaResearch, is governed by the laws of India, without regard to conflict-of-law principles. Subject to any mandatory law that provides otherwise, the competent courts in India shall have exclusive jurisdiction over any such dispute. If any part of this disclaimer is held unenforceable, the rest continues to apply.

12. Changes to this disclaimer and contact

We may revise this disclaimer at any time. The revised version applies from the moment it is published here, and the “Last updated” line at the top shows the current date. Continued use of the site after a change means you accept it. This page is the complete disclaimer; the shorter paragraph in the footer of every page and at the end of every RSS item summarises it and links here.

There is no public contact address for AlphaResearch at present. For corrections, source disputes or takedown requests, see the About page for how the site is produced, or leave a comment on the corresponding YouTube video; we read them. For how research is done, see Methodology.