Swastika Investmart Limited has announced receiving regulatory approval from the Securities and Exchange Board of India (SEBI) to operate as a Research Analyst. The company informed the BSE about this regulatory milestone on December 13, 2025, pursuant to Regulation 30 of the SEBI Listing Regulations.

SEBI Research Analyst Registration Details

The company has been granted the Certificate of Registration as Research Analyst under SEBI's regulatory framework. The key details of this approval are presented below:

Business Impact and Regulatory Significance

The SEBI Research Analyst registration represents a material regulatory development for Swastika Investmart Limited's business operations. This approval enables the company to undertake and publish research reports while carrying out research analyst activities in compliance with the applicable regulatory framework.

The registration provides several operational advantages:

• Legal authorization to undertake regulated research activities
• Ability to publish research reports under SEBI guidelines
• Enhanced regulatory compliance framework
• Improved credibility in the research and analytics domain
• Support for proposed business operations in research services

Regulatory Compliance Framework

The approval was obtained under Regulation 9 of the Securities and Exchange Board of India (Research Analysts) Regulations, 2014. The company must operate as a Research Analyst subject to the conditions specified in the Act and the regulations made thereunder.

The company has fulfilled all continuous disclosure requirements under Sub-Para 12 of Para B of Part A of Schedule III pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. This information has also been made available on the company's website at www.swastika.com for stakeholder reference.

Swastika Investmart Limited, a member of the National Stock Exchange (NSE), has been imposed with a monetary penalty of Rs 1,50,000 by the NSE for operational irregularities. The penalty comes in light of non-compliances reported in the company's internal audit report for the period of October 2024 to March 2025.

Penalty Details and Non-Compliance Issues

The NSE imposed the penalty based on the following key points:

• The penalty was levied under Exchange Circular Nos. NSE/INSP/51110 dated January 24, 2022, and NSE/INSP/53530 dated September 2, 2022.
• The non-compliances were identified through an internal audit report submitted by Swastika Investmart for the period October 2024 to March 2025.
• The company received the penalty order on November 17, 2025.

Nature of Non-Compliances

The operational irregularities reported include:

• Improper maintenance of logs for sharing weekly Statement of Accounts with clients
• Non-availability of pre-trade evidence for two sample clients
• Allowing trading in the account of a minor

Company's Statement

Swastika Investmart has stated that the penalty has no impact on its financial, operational, or other business activities. The company made this disclosure in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The company has duly informed the BSE Limited about this penalty as per the regulatory requirements. This transparency in reporting is in line with the ongoing efforts to maintain investor trust and adhere to regulatory standards in the Indian capital markets.

Conclusion

The penalty highlights the importance of strict operational compliance in the financial services sector. Swastika Investmart's prompt disclosure and assertion of no material impact on its operations demonstrate the company's approach to addressing regulatory concerns.