Home / Numbers / Official figure

How many research analysts are registered with SEBI?

SEBI listed 2,329 registered research analysts on 31 October 2026 (SEBI) in its Recognised Intermediaries list. Research analysts are the firms and people registered to publish research and recommendations on securities. In the same SEBI section, 1,071 investment advisers were registered.

Source · SEBI, figure for October 2026 · checked

2,329
SEBI-registered research analysts · 31 October 2026
Range
2,329 research analysts on SEBI's list
Confidence
High: an official count
Last checked

The number of records on SEBI's Recognised Intermediaries list for Research Analysts. Firms and individual proprietors are both counted, one record each.

The figures side by side

MeasureFigureSource
SEBI-registered research analysts2,329SEBI, Oct 31, 2026
SEBI-registered investment advisers1,071SEBI, Oct 31, 2026

How we got this number

  1. Open SEBI's Recognised Intermediaries page for Research Analyst and read the record count under the list: 'Registered intermediaries as on date Oct 31, 2026', 2329 records.
  2. Read the same count for Investment Advisers from SEBI's list for that category: 1071 records on the same date.
  3. Keep both as counts of registrations, not of clients or of research published.

What this number does not tell you

  • SEBI's page is a live list, not a dated report. It said 'as on date Oct 31, 2026' when read on 1 November 2026, so the number changes as registrations are granted or cancelled.
  • The list counts registrations. Companies and individual proprietors both appear, so it is not a count of people.
  • SEBI shows only the current list, so there is no month-by-month history on this page.

Sources

  1. SEBI, Recognised Intermediaries: Research Analyst, Oct 31, 2026Note: (Registered intermediaries as on date Oct 31, 2026) 1 to 25 of 2329 records
  2. SEBI, Recognised Intermediaries: Investment Adviser, Oct 31, 2026Note: (Registered intermediaries as on date Oct 31, 2026) 1 to 25 of 1071 records

Worked out by us: 2,329 (The record count 2329 printed on SEBI's Research Analyst list, written with a thousands separator); 1,071 (The record count 1071 printed on SEBI's Investment Adviser list, written with a thousands separator).

Questions people ask

How many SEBI-registered research analysts are there?

2,329 on 31 October 2026, according to SEBI's Recognised Intermediaries list.

Is a research analyst the same as an investment adviser?

No. They are separate SEBI registrations. SEBI listed 2,329 research analysts and 1,071 investment advisers on 31 October 2026.

Where can I check whether a research analyst is registered?

On SEBI's Recognised Intermediaries page for Research Analyst, which lists each registered name with its registration number and validity.

Read next

This figure is from SEBI's own release or a report quoting it. We recheck it monthly. If you have a newer or better source, send it to us.

Numbers like this, sourced and dated, in the daily brief. Nine stories every morning at 09:15 IST.

Get the brief free →

Ask Kriyā what this number means for your product