Terms & Conditions

1. Introduction

These Terms and Conditions (“Terms”) govern the relationship between We Capitalize (brand name of Gowtham Kumaresh, hereinafter referred to as the “RA” or “Research Analyst”) and the subscriber or user of its research services (hereinafter referred to as the “Client”).

These Terms are prepared and published in compliance with the SEBI (Research Analysts) Regulations, 2014 (“RA Regulations”) and include the Most Important Terms and Conditions (MITC) as mandated by SEBI. They are effective from Aug 2026 and supersede all prior versions.

2. Standard Terms of Service

2.1 Availing the Services

By accepting delivery of the research service, you as a Client of the RA confirm that you have elected to subscribe to the research service of the RA at your sole discretion. The RA confirms that research services shall be rendered in accordance with the applicable provisions of the RA Regulations.

2.2 Obligations of the RA and Client

The RA and the Client shall be bound by the Securities and Exchange Board of India Act, 1992 (“SEBI Act”) and all the applicable rules and regulations of SEBI, including the RA Regulations and relevant notifications of the Government, as may be in force from time to time.

2.3 Client Information and KYC

The Client shall furnish all such details in full as may be required by the RA in its standard form, with supporting details as may be made mandatory by the Research Analyst Administration and Supervisory Body (“RAASB”) / SEBI from time to time. The RA shall collect, store, upload and check KYC records of the Clients with the KYC Registration Agency (KRA) as specified by SEBI from time to time.

2.4 Consent and Acknowledgement

By giving consent (online or offline) to the terms and conditions mentioned in this agreement, you hereby confirm that you have read and understood the terms and conditions applicable to a Research Analyst as defined under Regulation 2(1)(u) of the SEBI (Research Analysts) Regulations, 2014, including the fee structure.

You hereby agree and acknowledge that you are subscribing to the research services for your own benefit and consumption, and any reliance placed on the research report provided by the RA shall be as per your own judgement and assessment of the conclusions contained in the research report.

3. Declaration of the Research Analyst

We, We Capitalize (Gowtham Kumaresh), agree and acknowledge that:

• We are duly registered with SEBI as a Research Analyst pursuant to the SEBI (Research Analysts) Regulations, 2014. Our registration details are: Name: Gowtham Kumaresh; SEBI Reg. No.: INH000028981; Validity: Perpetual (subject to compliance).
• We have the registration and qualifications required to render the services contemplated under the RA Regulations, and the same are valid and subsisting.
• Research services provided by us do not conflict with or violate any provision of law, rule or regulation, contract, or other instrument to which the RA is a party or to which any of the RA’s property is or may be subject.
• The maximum fee that may be charged by the RA is INR 1,51,000/- per annum per family of client (applicable to individual and HUF clients; further detailed in the MITC below). The fee limit does not include statutory charges and does not apply to non-individual clients or accredited investors.
• The recommendations provided by the RA do not provide any assurance of returns.
• We are not engaged in any additional professional or business activities, on a whole-time basis or in an executive capacity, which interfere with, influence, or have the potential to interfere with or influence the independence of the research report and/or recommendations contained therein.

4. Consideration and Mode of Payment

The Client shall duly pay to the RA the agreed fees, if any, for the services that the RA renders, along with applicable statutory charges. Such fees and statutory charges are payable through the manner and mode(s) as may be specified by the RA.

Permitted Payment Modes

• Fees may be paid via cheque, online bank transfer, UPI, or any other mode permitted by SEBI. Cash payment is strictly prohibited.
• The Client may optionally make payments through the Centralised Fee Collection Mechanism (CeFCoM) managed by BSE Limited (the currently recognised RAASB).
• The RA may charge fees in advance if agreed upon by the Client. Such advance shall not exceed one quarter, as stipulated by SEBI.
• In case of pre-mature termination of RA services by either party, the Client shall be entitled to seek a refund of proportionate fees only for the unexpired period. Please refer to our Refund Policy for full details.

5. Risk Factors and Conflict of Interest

5.1 Risk Factors

All research recommendations are based on the RA’s analysis of publicly available information and known observations as of the date of preparation or publication. The RA cannot guarantee returns, profits, accuracy, or risk-free outcomes from the use of research services. Any investment made based on research recommendations is entirely at the Client’s own risk.

5.2 Conflict of Interest

The RA shall adhere to the applicable regulations, circulars, and directions specified by SEBI and RAASB from time to time in relation to the disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavour to promptly inform the Client of any conflict of interest that may affect the services being rendered. Further details are available in our Disclosure Document.

6. Termination of Relationship

The RA may suspend or terminate rendering of research services to the Client on account of suspension or cancellation of the RA’s registration by SEBI.

• In case of suspension of the certificate of registration for more than 60 (sixty) days, the RA shall refund fees received (if any) on a pro-rata basis for the period from the effective date of suspension to the end of the subscription period.
• In case of cancellation of the RA registration, the RA shall refund fees received (if any) on a pro-rata basis for the remaining subscription period from the effective date of cancellation.
• In all cases of premature termination by either the RA or the Client for other valid reasons, the Client shall be entitled to a proportionate refund only for the unexpired subscription period. Please refer to our Refund Policy for complete details.

7. Grievance Redressal and Dispute Resolution

Any grievance related to (i) non-receipt of a research report, (ii) missing pages or inability to download the report, or (iii) any other deficiency in the research services provided by the RA, shall be escalated promptly by the Client through the channels below. The RA shall resolve grievances within 21 days of receipt, in a transparent manner.

1. 1

   Contact the Research Analyst Directly

   Raise your grievance directly with We Capitalize. We shall strive to resolve it immediately, and not later than 21 days from the date of receipt.

   Primary Email: contact@wecapitalize.in

2. 2

   SEBI SCORES 2.0

   If the resolution is unsatisfactory or not received within 21 days, lodge a complaint on SEBI’s centralised grievance redressal system, SCORES 2.0, at scores.sebi.gov.in. Complaints follow a two-level review: first by RAASB, then by SEBI.

3. 3

   SMART ODR — Online Dispute Resolution

   For unresolved disputes, file a complaint on the SMART ODR platform for resolution through online conciliation or arbitration. Any dispute may also be resolved through arbitration or such other modes as specified by SEBI from time to time.

For a comprehensive view of the grievance mechanism, including SEBI contact details and the physical complaints address, please refer to our dedicated Grievance Redressal page and Investor Charter.

8. Most Important Terms and Conditions (MITC)

8.1 Fee Cap

The fee charged by the RA to the Client will be subject to the maximum amount prescribed by SEBI / RAASB from time to time (applicable only to Individual and HUF clients):

• The current fee limit is ₹1,51,000/- per annum per family of client for all research services of the RA combined.
• The fee limit does not include statutory charges.
• The fee limits do not apply to a non-individual client or accredited investor.

8.2 Advance Fees and Refunds

The RA may charge fees in advance if agreed by the Client. Such advance shall not exceed one quarter, as presently stipulated by SEBI. In case of pre-mature termination of RA services by either party, the Client shall be entitled to seek a refund of proportionate fees only for the unexpired period.

8.3 Permitted Payment Modes

Fees to the RA may be paid through any of the specified modes: cheque, online bank transfer, UPI, or other SEBI-approved modes. Cash payment is not allowed. Optionally, the Client may make payments through the Centralised Fee Collection Mechanism (CeFCoM) managed by BSE Limited (the currently recognised RAASB).

8.4 Conflict of Interest Disclosure

The RA is required to abide by the applicable regulations, circulars, and directions specified by SEBI and RAASB from time to time in relation to disclosure and mitigation of any actual or potential conflict of interest. The RA will endeavour to promptly inform the Client of any conflict of interest that may affect the services being rendered.

8.5 Prohibition on Assured Returns

8.6 No Guarantee of Returns or Performance

The RA cannot guarantee returns, profits, accuracy, or risk-free investments from the use of the RA’s research services. All opinions, projections, and estimates of the RA are based on the analysis of available data under certain assumptions as of the date of preparation or publication of the research report.

Any investment made based on recommendations in research reports is subject to market risks, and recommendations do not provide any assurance of returns. There is no recourse to claim any losses incurred on investments made based on the recommendations in the research report. Any reliance placed on the research report shall be as per the Client’s own judgement and assessment of the conclusions contained therein.

8.7 SEBI Registration Does Not Guarantee Performance

Registration granted by SEBI, enlistment with BSE and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

8.8 Grievance Escalation Matrix (MITC)

1. 1

   Contact the Research Analyst Directly

   Primary Email: contact@wecapitalize.in
   WhatsApp: +91 70100 67041

2. 2

   SEBI SCORES 2.0

   scores.sebi.gov.in  |  SEBI Toll Free: 1800 266 7575 / 1800 22 7575

3. 3

   SMART ODR

   smartodr.in

8.9 Account Credentials — Security Warning

8.10 Keeping Contact Details Updated

Clients are required to keep contact details, including email ID and mobile number(s), updated with the RA at all times to ensure timely delivery of research reports and service communications.

9. General Provisions

9.1 Governing Law and Jurisdiction

These Terms and Conditions shall be governed by and construed in accordance with the laws of India. All disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of courts having jurisdiction over Palani, Tamil Nadu, India.

9.2 Severability

If any provision of these Terms is held to be invalid, unlawful, or unenforceable by a court of competent jurisdiction, such provision shall be severed from the remaining provisions. The remaining provisions shall continue in full force and effect as if the severed provision had not been included.

9.3 Communications

• By subscribing to our services, Clients consent to receive SMS, emails, and Telegram messages, including research reports, service updates, and regulatory communications.
• Redistribution or unauthorised sharing of research reports or recommendations is strictly prohibited. Offenders may face legal action and subscription cancellation without refund.
• Clients assume full responsibility for their investment decisions. If they choose to trade based on the RA’s research reports, the resulting risks and outcomes are solely theirs.

9.4 Force Majeure

The Research Analyst shall not be liable for delays or failures in performance due to causes beyond its reasonable control, including but not limited to natural disasters, acts of war, civil unrest, power failure, internet outages, or regulatory actions by SEBI or other governmental authorities.

9.5 Acknowledgement and Consent

By subscribing to our services, you confirm that you agree to all clauses of these Terms and Conditions with your own free will and informed consent, and that you have had adequate opportunity to read, understand, and seek clarification on any provision before consenting.

10. Regulatory Disclaimer