Equity Basket

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Green Energy Portfolio

2Y CAGR

XX.X%

5Y CAGR

XX.X%

Since Inception

XX.X%

🔒 Returns are visible to logged-in investors only.

▲

High Volatility Investment

Minimum Investment

₹1,01,849

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The thinking
behind the basket.

We saw it before others did.

The thesis began with a visit to a solar module manufacturer in Surat in 2019. Before green energy became a theme on Smallcase, we were sitting across from the founders building it.

We backed the whole chain, not just solar panels.

Manufacturing. Components. EPC. Transmission. Storage. The energy transition creates winners across every layer. We built this basket to capture the full infrastructure of that shift.

Policy tailwind, entrepreneurial proof.

India's production-linked incentives and renewable commitments create a policy floor. But every company in this basket earns its place on fundamental strength, not policy hope.

Corrections later, the thesis has only grown stronger.

This sector has faced volatility. We have not exited. When the fundamentals are intact, the price going down is not a signal to leave. It is sometimes a signal to review and, when warranted, add.

Believe India's energy story is only starting.

You believe that India's commitment to renewable energy is structural and two-decade in scope, and you want to invest accordingly, not just follow the hype.

Want Sector depth over sector breadth.

You want a thematic basket where the thesis is coherent and specific. Clean energy, in full depth across the entire value chain, not a generic ESG fund.

Prefer Conviction held through volatility.

You understand thematic baskets have sharp corrections. You want to invest with a manager who will explain what changed and what did not when the price moves.

I visited a solar module manufacturer in Surat in 2019. What I saw told me this was not a subsidy story. This was a manufacturing revolution. We launched the basket in March 2021. The thesis has not changed.

Arvind Kothari

Founder - Niveshaay

Live performance unlocks
after login.

2Y CAGR

XX.X%

5Y CAGR

XX.X%

Since Inception

XX.X%

🔒 Returns are visible to logged-in investors only.

▲

High Volatility Investment

Equity baskets like this carry high volatility. Returns shown on the platform are calculated as per SEBI norms and are not a promise of future performance. Past performance does not guarantee future results.

Minimum Investment Amount

₹97,020

Get access from ₹1,200/m

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Sector / Company Type	Weight
Solar Manufacturing Large Cap · Domestic module leader	XX.X%
Clean Energy EPC Mid Cap · Project builder	XX.X%
Energy Storage Mid Cap · Battery technology	XX.X%
Power Transmission Mid Cap · Grid infrastructure	XX.X%
Solar Components Small Cap · Component supplier	XX.X%
	XX.X%

+15 more holdings hidden

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How weights
are decided.

Weights are set by business potential and earnings visibility, balanced against valuation, management quality, and how much each name should influence the portfolio. Higher-conviction positions carry more weight. We rebalance when the thesis changes, and every change is explained in a Manager's Update.

NIAPL NIA

Grievance Redressal Matrix

Details of Designation	Contact Person Name	Address	Contact No.	Email ID	Working Hours
Grievance Officer	Vikram Sharma	508, SNS Platina, Nr. Someshwara Enclave, Vesu, Surat, Gujarat 395007	7859870559	research@niveshaay.com	10.30AM to 5.00PM

Disposal of complaints

Current Month Monthly Annual

Received From	Pending at End of Last Month	Received	Resolved*	Total Pending*	Pending > 3 months	Avg. Resolution Time* (in days)
Investors	0	0	0	0	0	0
SEBI Scores	0	0	0	0	0	0
Other Sources	0	0	0	0	0	0
Grand Total	0	0	0	0	0	0

Month	Carried Forward	Received	Resolved*	Pending*
October-2023	0	0	0	0
November-2023	0	0	0	0
December-2023	0	0	0	0
January-2024	0	0	0	0
February-2024	0	0	0	0
March-2024	0	0	0	0
April-2024	0	0	0	0
May-2024	0	0	0	0
June-2024	0	0	0	0
July-2024	0	0	0	0
August-2024	0	0	0	0
September-2024	0	0	0	0
Grand Total	0	0	0	0

Year	Carried Forward	Received	Resolved*	Pending*
2021 - 2022	0	0	0	0
2022 - 2023	0	0	0	0
2023 - 2024	0	0	0	0
Grand Total	0	0	0	0

Grievance Redressal Matrix

Details of Designation	Contact Person Name	Address	Contact No.	Email ID	Working Hours
Grievance Officer	Vikram Sharma	508, SNS Platina, Nr. Someshwara Enclave, Vesu, Surat, Gujarat 395007	7859870559	research@niveshaay.com	10.30AM to 5.00PM

Disposal of complaints

Current Month Monthly Annual

Received From	Pending at End of Last Month	Received	Resolved*	Total Pending*	Pending > 3 months	Avg. Resolution Time* (in days)
Investors	0	0	0	0	0	0
SEBI Scores	0	0	0	0	0	0
Other Sources	0	0	0	0	0	0
Grand Total	0	0	0	0	0	0

Month	Carried Forward	Received	Resolved*	Pending*
September-2025	0	0	0	0
October-2025	0	0	0	0
November-2025	0	1	0	1
December-2025	1	0	1	0
January-2026	0	1	0	1
February-2026	1	0	1	0
March-2026	0	0	0	0
April-2026	0	0	0	0
May-2026	0	1	0	1
June-2026	1	0	1	0
July-2026	0	0	0	0
August-2026	0	0	0	0

Year	Carried Forward	Received	Resolved*	Pending*
2023 - 2024	—	0	0	0
2024 - 2025	—	0	0	0
2025 - 2026	—	0	0	0
Grand Total	—	0	0	0

Definitions

Resolved - Resolved complaints include any previous month’s complaints resolved in the current month.
Pending - Total pending includes complaints unresolved as of the last day of the month.
Average resolution time = total days taken to resolve complaints / total complaints resolved in the month.

Contact us directly at research.smallcase@niveshaay.com for assistance with any queries, complaints or grievances. We will ensure your grievance is resolved within 21 calendar days. If you feel that your grievance is not redressed satisfactorily, you may lodge a complaint with SEBI through the Scores website, the SEBI Scores app for Android or iOS, or the Online Dispute Resolution portal.

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I/We are subscribing to the research services for our own benefit and consumption, and any reliance placed on the research report provided by the research analyst shall be as per our own judgment and assessment of the conclusions contained in the research report.

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The RA does not engage in services such as profit sharing or representation that its Services guarantee a minimum return.

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The RA does not include within the ambit of the Services execution of any trades, investment decisions and/or buy-sell orders for the Client. The terms and conditions and the consent thereon are for the research services provided by the RA and RA cannot execute/ carry out any trade (purchase/ sell transaction) on behalf of the client. Thus, the Client is advised not to permit RA to execute any trade on the Client’s behalf.

The RA shall render the Services on a best effort basis.

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In the event of any grievance arising out of or relating to the Terms or Services (including (i) non-receipt of research report or (ii) missing pages or inability to download the entire report) the Client may reach out to Vikram Sharma at research@niveshaay.com and the RA shall be responsible to resolve the grievance in a transparent and timely manner but not later than a period of 21 calendar days from the date of communication of such a grievance or such time period as may be prescribed by SEBI from time to time.

If the grievance is not redressed satisfactorily, the Client may, in accordance with the SCORES guidelines, escalate the same through the SCORES Portal in accordance with the process laid out therein. Alternatively, the Client can initiate dispute resolution through the Online Dispute Resolution portal, a dispute resolution mechanism that includes mediation and/or conciliation and/or arbitration, in accordance with the procedure specified by SEBI.

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The RA reserves the right to amend these Terms contained herein by posting the revised terms on the Website and/or Digital Medium and/or by way of email, by giving a notice of 15 days.
The RA may change or discontinue, temporarily or permanently, any feature or component of the Services at any time without prior notice to the Client. The RA shall not be liable to the Client or to any third party for any modification, suspension or discontinuance of any feature or component of the Services. The RA reserves the right to determine at its own discretion, the timing and content of software updates, which may be automatically downloaded and installed by an application without any prior notice to the Client.
The Client hereby accepts that he may, from time to time, receive from the RA or its affiliates or partners, communications such as service announcements, advertisements or administrative communications.
All information provided by the Client to the RA shall be accurate, current and complete. Client shall be solely responsible for the accuracy and correctness of all information provided by him. The RA shall not be liable for any loss or costs incurred by any party due to any incorrect or mistaken information provided by the Client.
Any link on the Website to a third-party site is not an endorsement of that website. The use or browsing by a Client of any other website shall be subject to the terms and conditions in each such website.
The RA shall not be liable for any unauthorised access to the Client’s data or any unauthorized transmissions sent through the Services.
The Client shall not (whether online or otherwise) describe itself as an agent or representative of the RA or make any representations to any other Client or any third party or give any warranties which may require the Company to undertake or be liable for, whether directly or indirectly, any obligation and/or responsibility to any other Client or any third party.
The RA shall not be liable for any breach of these general Terms due to any force-majeure event such as act of god, fire, lightning, explosion, flood, inclement weather conditions, power failures, epidemic, pandemic, failure in any communication systems, equipment breakdown, strikes, lock-out or any other cause beyond the control of the Company
The RA has a contractual arrangement with a vendor - CASE Platforms Private Limited (formerly known as “Smallcase Technologies Private Limited”; hereinafter “CPPL”); whereby CPPL provides a technology SaaS solution and related back-end infrastructure. CPPL does not provide any investment advice or research recommendation, nor does it make any claim of returns or performance with respect to any advice or recommendation. All services with respect to research and recommendations are only provided by the Research Analyst.
As a part of the technology SaaS solution and related back-end infrastructure offered by CPPL, the RA may also offer an optional mechanism to its clients to facilitate transactions on the research recommendations. The RA does not receive any commission, fees or any other type of remuneration from the CPPL for the same. The client is free to use this optional service as per his/her/its own discretion.
The RA has not outsourced any of its core research and compliance activities to CPPL. The RA has full control and authority on all such activities and might just use CPPL’s technology SaaS solution and related back-end infrastructure as a tool or technology layer.
CPPL is an authorized third party vendor/partner of the RA and the Client consents to the RA for sharing his/her/its account related information with authorized vendors/partners.
The Client agrees and confirms that the RA may engage agents and/or third-party vendors/partners for carrying out the acts mentioned in or in relation to rendering its Services. The Client consents to sharing of his/its account related information to such authorized agents / third party vendors/partners engaged by the RA.
Please refer further disclosures on the website

25.

These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA) and RA cannot execute/carry out any trade (purchase/sell transaction) on behalf of the Client. Thus, the Client(s) are advised not to permit RA to execute any trade on their behalf.

26.

The fee charged by RA to the Client will be subject to the maximum amount prescribed by SEBI/ Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients). Note:

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

27.

Fees to RA may be paid by the Client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally the Client can make payments through Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (i.e. currently recognized RAASB).

28.

The RA is required to abide by the applicable regulations/ circulars/ 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 endeavor to promptly inform the Client of any conflict of interest that may affect the Services being rendered to the Client.

29.

Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the Client by the RA.

30.

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

31.

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

32.

The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the Client.

33.

Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.

34.

The RA shall never ask for the Client’s login credentials and OTPs for the Client’s Trading Account, Demat Account and Bank Account. Never share such information with anyone including RA.

35. Grievance Redressal Process

For any grievances,

Step 1: The client should first contact the RA using the details on its website or following contact details

Designation	Contact Person	Address	Contact No.	Email ID	Working Hours
Grievance Officer	Vikram Sharma	508, SNS Platina, Nr. Someshwara Enclave, Vesu, Surat, Gujarat 395007	7859870559	research@niveshaay.com	10.30AM to 5.00PM

Step 2: If the resolution is unsatisfactory, the client can also lodge grievances through SEBI’s SCORES platform

Step 3: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal

36. Usage of Artificial Intelligence (AI) for the purpose of providing Services to Clients

There is no use of Artificial Intelligence for the purpose of providing Services to Clients.

37.

We are licensed to operate under the Corporate license category.

38. Most Important Terms and Conditions (MITC)

1. These terms and conditions, and consent thereon are for the research services provided by the Research Analyst (RA) and RA cannot execute/carry out any trade (purchase/sell transaction) on behalf of, the client. Thus, the clients are advised not to permit RA to execute any trade on their behalf.

2. The fee charged by RA to the client will be subject to the maximum of amount prescribed by SEBI/ Research Analyst Administration and Supervisory Body (RAASB) from time to time (applicable only for Individual and HUF Clients). Note:

2.1. The current fee limit is Rs 1,51,000/- per annum per family of client for all research services of the RA.

2.2. The fee limit does not include statutory charges.

2.3. The fee limits do not apply to a non-individual client / accredited investor.

3. RA may charge fees in advance if agreed by the client. Such advance shall not exceed the period stipulated by SEBI; presently it is yearly. In case of pre-mature termination of the RA services by either the client or the RA, the client shall be entitled to seek refund of proportionate fees only for unexpired period.

4. Fees to RA may be paid by the client through any of the specified modes like cheque, online bank transfer, UPI, etc. Cash payment is not allowed. Optionally the client can make payments through Centralized Fee Collection Mechanism (CeFCoM) managed by BSE Limited (i.e. currently recognized RAASB).

5. The RA is required to abide by the applicable regulations/ circulars/ 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 endeavor to promptly inform the client of any conflict of interest that may affect the services being rendered to the client.

6. Any assured/guaranteed/fixed returns schemes or any other schemes of similar nature are prohibited by law. No scheme of this nature shall be offered to the client by the RA.

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

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

9. The SEBI registration, Enlistment with RAASB, and NISM certification do not guarantee the performance of the RA or assure any returns to the client.

10. For any grievances, Step 1: the client should first contact the RA using the details on its website or the contact details in the Grievance Redressal Matrix above. Step 2: If the resolution is unsatisfactory, the client can also lodge grievances through SEBI’s SCORES platform at www.scores.sebi.gov.in. Step 3: The client may also consider the Online Dispute Resolution (ODR) through the Smart ODR portal at smartodr.in

11. Clients are required to keep contact details, including email id and mobile number/s updated with the RA at all times.

12. The RA shall never ask for the client’s login credentials and OTPs for the client’s Trading Account Demat Account and Bank Account. Never share such information with anyone including RA.

License Holder Details

License Holder Name: NIVESHAAY INVESTMENT ADVISORS PRIVATE LIMITED
Brand Name: Niveshaay
SEBI Registration No.: INH000027830 registered as a Research Analyst
Registered Address: 508, SNS Platina, Nr. Someshwara Enclave, Vesu, SURAT, GUJARAT - 395007
CIN/DPIN/LLPIN: U66110GJ2025PTC162046
BSE Registration No.: 7247
Support Telephone: 7859870559
Support Email: research.smallcase@niveshaay.com
Compliance Officer: Vikram Sharma — research@niveshaay.com
Grievance Officer: Vikram Sharma — research@niveshaay.com

Green Energy Portfolio

The thinking
behind the basket.

We saw it before others did.

We backed the whole chain, not just solar panels.

Policy tailwind, entrepreneurial proof.

Corrections later, the thesis has only grown stronger.

This basket is
for you, if you

Believe India's energy story is only starting.

Want Sector depth over sector breadth.

Prefer Conviction held through volatility.

Live performance unlocks
after login.

Subscribe to see the
constituents of this portfolio.

+15 more holdings hidden

How weights
are decided.

Green Energy Portfolio

The thinkingbehind the basket.

We saw it before others did.

We backed the whole chain, not just solar panels.

Policy tailwind, entrepreneurial proof.

Corrections later, the thesis has only grown stronger.

This basket isfor you, if you

Believe India's energy story is only starting.

Want Sector depth over sector breadth.

Prefer Conviction held through volatility.

Live performance unlocksafter login.

Subscribe to see theconstituents of this portfolio.

+15 more holdings hidden

How weightsare decided.

The thinking
behind the basket.

This basket is
for you, if you

Live performance unlocks
after login.

Subscribe to see the
constituents of this portfolio.

How weights
are decided.