Palantir

• A blockchain token designed to track the price of Palantir Technologies Inc. (NASDAQ: PLTR).

• It is not a share. Holding the token does not confer ownership of the company, voting rights, or a direct claim against it.

• It offers fractional, round-the-clock price exposure without opening a foreign brokerage account. For the full process, see our guide on how to buy Palantir stock in India.

• Founded: 2003

• Headquarters: Denver, Colorado, United States

• CEO: Alex Karp (co-founder)

• Listed on: Nasdaq (PLTR)

• Sector: Data analytics software

• Palantir builds data integration and analysis platforms, originally for government and defence clients.

• Its commercial segment has grown around the Artificial Intelligence Platform product.

• Revenue is concentrated among a relatively small number of large contracts.

• Government revenue comes from US and allied defence and civilian agencies.

• Commercial revenue, led by US companies, is the fastest-growing segment.

• Products include Gotham, Foundry, Apollo and AIP.

• You get price exposure to the underlying instrument.

• You do not get shareholder voting rights.

• Dividend or distribution treatment depends on the issuer's structure and is often not passed through.

• You take on issuer and custodian risk in addition to the price risk of the underlying.

Pros:

• US commercial growth has been rapid.

• It has strong government relationships.

• Margins are high.

Cons:

• The stock trades at a large valuation premium.

• Government budgets drive a large share of revenue.

• International commercial growth has lagged.

• Counterparty risk: if the issuer or custodian fails, the backing may not be recoverable.

• Tracking risk: the token price can diverge from the underlying, particularly outside US market hours when the underlying does not trade.

• Liquidity risk: on-chain liquidity is thinner than the underlying market, so spreads can widen sharply.

• Regulatory risk: India does not yet have a settled framework for tokenised equities, and tax treatment remains unclear.

• Price risk specific to the underlying instrument.