Risk Disclosure Statement
Last updated: September 2026
Unlisted and pre-IPO equity is a materially different asset class from listed, exchange-traded shares. This statement summarises the principal risks involved. It is not exhaustive, and you should read it alongside independent professional advice before proceeding with any transaction.
1. Not Exchange-Traded
Unlisted securities are not listed or traded on any recognised stock exchange such as the NSE or BSE. There is no centralised, transparent order book, and transactions are conducted off-market through privately negotiated, bilateral transfers.
2. Liquidity Risk
There is no continuous market for unlisted shares. Selling a holding depends entirely on finding a willing counterparty at an acceptable price, which may take considerable time — or may not be possible at all. You should be prepared to hold an unlisted position for an extended and indefinite period.
3. Price and Valuation Risk
Because there is no exchange-determined price, valuations for unlisted shares are indicative and can vary significantly between different platforms, desks, and points in time. The price you pay may not reflect the company's fundamental value, and there is no guarantee that value will be realised on any future listing or sale.
4. Regulatory Status
Unlisted share transactions of this nature are not covered by the investor-protection mechanisms, disclosure norms, or grievance-redressal frameworks that apply to SEBI-regulated stock exchanges. There is no investor protection fund or exchange-backed settlement guarantee for these transactions.
5. Limited Disclosure
Unlisted companies are not bound by the continuous disclosure obligations that apply to listed companies. Financial statements, related-party transactions, and material developments may be less frequently or less comprehensively disclosed than you would expect from a listed entity.
6. No Assurance of Listing or Exit
Any reference to a company's potential future listing is speculative. There is no assurance that a company under coverage will list on a public exchange, or that it will do so within any particular timeframe, or at a valuation favourable to you.
7. Transfer and Settlement Risk
Transfers of unlisted shares are conducted off-market and typically require execution of transfer instructions and demat account processing. Delays, documentation errors, or counterparty issues can affect settlement timelines.
8. Suitability
Unlisted equity is generally more appropriate for investors who understand these risks, have an appropriate risk appetite and time horizon, and are in a position to bear the potential loss of their invested capital. It may not be suitable for all investors.
9. Independent Advice
Satvic Capitals Private Limited does not provide investment, legal, or tax advice. You are strongly encouraged to consult your own financial advisor, tax consultant, and legal counsel before entering into any unlisted share transaction.
10. Educational Purpose Only
All information on this Site — including research notes, pricing references, and coverage commentary — is provided solely for educational and informational purposes. It does not constitute investment advice or a recommendation to buy or sell any security. Please carry out your own due diligence before proceeding with any trade.
11. Mandatory KYC Documentation
To engage in any trade, the following three KYC documents are mandatory: a copy of your Client Master List (CML), a copy of your PAN card, and a copy of a cancelled cheque. Transactions cannot be processed without these documents.
By proceeding to enquire about, or transact in, any counter referenced on this Site, you confirm that you have read and understood this Risk Disclosure Statement.