Source: SEBI
From the prospectus, ordered by severity. Wording is close to the filing — not softened.
Market Risk
There is no assurance of active trading or price stability post-listing.
Market · high
Cash Flow Risk
The company has experienced negative cash flows, particularly in Fiscal 2026.
Financial · high
Customer Concentration Risk
Top 10 customers accounted for 28.79%, 32.08%, and 29.82% of revenue from operations in Fiscals 2026, 2025, and 2024.
Operational · medium
Supplier Concentration Risk
Top 10 suppliers accounted for 67.60%, 74.14%, and 77.64% of total purchases in Fiscals 2026, 2025, and 2024.
Operational · medium
Geographic Concentration Risk
Revenue from operations concentrated in Western and Southern India.
Operational · medium
Regulatory Compliance Risk
The company is required to comply with various laws and regulations.
Regulatory · medium
What the business leans on, as the filing describes it.