NSE · Source: SEBI
From the prospectus, ordered by severity. Wording is close to the filing — not softened.
Market Risk
There is no formal market for the Equity Shares, and the Floor Price, Cap Price, and Offer Price should not be seen as indicative of future market prices.
General · high
Investment Risk
Investors should not invest unless they can afford to lose their entire investment.
General · high
Regulatory Risk
The Equity Shares have not been approved by SEBI, which does not guarantee the accuracy of the Red Herring Prospectus.
General · high
Dependency on Customers
If our customers choose not to source their requirements from us or to terminate our contracts or purchase orders or tenders, our business, cash flows, financial condition and results of operations may be adversely affected.
Operational · high
Supplier Dependency
We are dependent on our top ten suppliers and failure to maintain our relationship with our suppliers could adversely affect our business, financial condition, results of operations and prospects.
Operational · high
Cyclical Business Nature
Our business is cyclical in nature on account of it being geopolitically driven and subject to government budget cycles.
Operational · medium
Export Dependency
65.52% and 48.61% of revenue from operations was from exports in Fiscal 2025 and 2024 respectively.
Operational · medium
Quality Standards
High quality standards and stringent performance requirements by customers may impact operations.
Operational · medium
What the business leans on, as the filing describes it.