The resolution of investor grievances is an indicator of the efficient working of the regulatory mechanism in a country. Although the securities market in India has witnessed a significant growth since the establishment of SEBI but as far as SEBIs performance in redressing the grievances of investors is concerned especially in case of women investors, SEBI needs to review its grievance redressal mechanism. Winning the confidence of its investors especially women investors is very important for the regulator. Women being risk averse investors have greater concerns about the efficiency of the grievance redressal mechanism and are less likely to invest in the securities market in the absence of an effective grievance redressal mechanism. Therefore, the study is an attempt to probe into the efficiency of the grievance redressal mechanism set up by SEBI in solving the problems of women stock investors of Punjab. For the purpose of the study, data was collected from primary sources using a pre tested, well structured questionnaire. Descriptive Statistics as well as Percentage Analysis have been used in order to analyze the collected data. The results of the study brought out that majority of the women did not register a complaint with SEBI because they were not aware about the procedure of complaint registration. Among those who registered their complaints, had registered their complaints online, but still a number of them made use of the investor helpline numbers in order to register their complaints. As far as the reply to these complaints is concerned, all the complaints were attended to but grievance cases with multiple issues were found difficult to resolve and hence the complaints in such cases remained pending. The paper suggests that SEBI needs to carry out extensive investor education initiatives in order to educate the women investors about its grievance redressal mechanism, to empower them and to increase their participation in the stock market. Moreover, SEBI should invite suggestions from the investors in order to improve its already existing grievance redressal mechanism.