Source: SEBI
From the prospectus, ordered by severity. Wording is close to the filing — not softened.
Market Risks
No assurance can be given regarding an active and/or sustained trading in the Equity Shares.
Market · high
Investment Risks
Investments in equity and equity-related securities involve a degree of risk.
Investment · high
Customer Dependency
Revenue from top two customers represented a high percentage of total revenue.
Operational · medium
Prepaid Payment Instruments Dependency
Significant dependency on prepaid payment instruments program management and distribution business.
Operational · medium
Growth Uncertainty
Recent growth rates may not indicate future performance.
Financial · medium
Expenditure Risks
If the increase in such expenditure is not offset by an increase in revenue from operations, it would have an adverse effect on our financial condition, results of operations and cash flows.
Financial · medium