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Source: SEBI
From the prospectus, ordered by severity. Wording is close to the filing — not softened.
Market Risk
There has been no formal market for these shares, and no assurance can be given regarding an active or sustained trading in the Equity Shares.
Market · high
Investment Risk
Investments in equity involve risk, and bidders should only invest if they can afford to lose their entire investment.
Investment · high
Regulatory Risk
The Equity Shares have not been approved by SEBI, which does not guarantee the accuracy of the prospectus.
Regulatory · high
What the business leans on, as the filing describes it.