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Source: SEBI
From the prospectus, ordered by severity. Wording is close to the filing — not softened.
Market Risk
No assurance of an active market for the shares post-listing.
Market · high
Financial Risk
Negative cash flows from operating and investing activities.
Financial · high
Operational Risk
Dependency on third-party suppliers for scrap materials.
Operational · medium
Regulatory Risk
Compliance with stringent environmental regulations.
Regulatory · medium
What the business leans on, as the filing describes it.