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Pools, for analysts
Joining
Under Profile & plans → Pools you see the pools that are open, what each carries, its price and the charter. Joining is accepting the charter: price, kinds, the split formula and floor, minimum activity, roster rules, GST treatment and notice for changes. A material change is a new charter version you are asked to accept again.
Before you can join you need a payout account: a linked account with the payment aggregator (Razorpay Route) in your own name. Pool fees are paid in one payment on the platform's gateway account and split at the aggregator into each analyst's linked account; the platform's share is zero. The aggregator checks your details once; until it is activated you can read charters but not join.
Your clients and your deposit
Each pool subscriber becomes your client. One KYC registry check is made for the subscriber and recorded on your register, as your outsourced agent and with the subscriber's consent; you may require your own check. Subscribers count for your SEBI deposit (₹1 lakh up to 150 clients, ₹2 lakh to 300, ₹5 lakh to 1,000, ₹10 lakh above). Set a client ceiling matched to the deposit you hold; pools stop enrolling new subscribers with you at that count. A part-time research analyst's ceiling is 75.
Pool clients are outside your desk plan's client band, so joining never moves you up a plan.
Publishing to a pool
Pick the pool as the audience in the composer. Every subscriber of the pool receives it at the same moment, like any plan. You share in a period only if you published to the pool at least the charter's minimum number of times in it.
How shares settle
At each subscriber's period end, their fee (less GST where you charge it and the gateway's charge at cost) is divided: an equal part among roster analysts who published to the pool, the rest by how many of each analyst's pieces the subscriber opened. Shares never depend on returns, accuracy or any measure of performance, and the settlement table may not be used as a performance claim.
Your share is held with the aggregator during the period and released at the end. If a subscriber cancels, the unexpired part is refunded pro rata and the held shares are reduced in the same proportion. The platform withholds tax deducted at source on the sale (section 194-O) and, for a GST-registered analyst, any GST collected at source the law requires, shows both on your statement and credits them to your PAN or GSTIN. The settlements table and its CSV are under Pools; a fee statement in your name goes to each subscriber.
Leaving
Leave a pool with 30 days' notice. Subscribers already enrolled receive your research to the end of their paid period, and you are settled for it.