Dhaval Packaging IPO
Dhaval Packaging LtdSME
This IPO has listed.
- Open date
- 30 Jul 2026
- Close date
- 3 Aug 2026
- Min. Investment
- ₹2,32,800
- Lot Size
- -
- Fresh Issue
- ₹36.31 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers56.38x
- Non-Institutional Investors55.50x
- Retail-Individual Investors40.28x
- Total46.56x
Schedule
- Completed: IPO open date30 Jul 2026
- Completed: IPO close date3 Aug 2026
- Completed: Allotment date4 Aug 2026
- Completed: Funds unblock or debit5 Aug 2026
- Completed: Tentative listing date6 Aug 2026
About
Promoter shareholding in Dhaval Packaging Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Manish Nanalal Dagla | 31,50,000 | 31.54% | 31,50,000 | 22.93% |
| Dhaval Nanalal Dagla | 30,50,000 | 30.54% | 30,50,000 | 22.20% |
| Shah Aalap Dipak | 6,80,000 | 6.81% | 6,80,000 | 4.95% |
| Jigar Harivadan Contractor | 7,30,000 | 7.31% | 7,30,000 | 5.31% |
| Jigar Manubhai Shah | 5,30,000 | 5.31% | 5,30,000 | 3.86% |
| Ishita Manish Dagla | 8,10,000 | 8.11% | 8,10,000 | 5.90% |
| Ankit Harivadan Contractor | 1,00,000 | 1.00% | 1,00,000 | 0.73% |
| Jaymin Rameshchandra Contracto | 25,000 | 0.25% | 25,000 | 0.18% |
Dhaval Packaging IPO Strengths & Risks
- Long standing relationships with a diversified customer base.
- Business Model focused on customized solutions and strong customer relationships.
- Experienced Promoters and management team.
- Risks Relating to the Business: The company depends on a limited number of suppliers for its raw material requirements of the company's business. Further, the company does not have definitive agreements or fixed terms of trade with most of its suppliers. Failures to successfully leverage the company's relationships with existing suppliers or to identify new suppliers could adversely affect its business operations.
- Risks Relating to the Business: Any disruptions to the supply, or increases in the pricing, of the raw materials and finished products that the company procure, may adversely affect the supply and pricing of its products and, in turn, adversely affect the company's business, cash flows, financial condition and results of operations.
- Risks Relating to the Business: The company revenues are significantly dependent on certain geographical regions, and any adverse developments in these regions could adversely impact its business, financial condition and results of operations.
- Risks Relating to the Business: The company's manufacturing facilities are located only in the state of Gujarat. Any adverse developments affecting its operations in the Gujarat could have an adverse impact on the company's revenue and results of operations.
- Risks Relating to the Business: The company's business is operating under various laws which require it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business, and if the company is unable to obtain these approvals and the renewals, the company's business operations could be adversely affected thereby impacting its revenues and profitability.
- Risks Relating to the Business: The company's business operations are highly dependent on the efficient functioning of its manufacturing machinery, and any breakdown, malfunction or technical failure may adversely affect the company's production and profitability.
- Risks Relating to the Business: The company operates the company's business from leased premises, including certain premises held under short-term lease arrangements, and any disruption or non-renewal of such leases may adversely affect the company's business.
- Risks Relating to the Business: The company has not yet placed orders in relation to the capital expenditure to be incurred for the proposed purchase of equipment / machineries. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment / machineries in a timely manner, or at all, the same may result in time and cost over-runs.
- Risks Relating to the Business: The company has experienced growth in recent years and may be unable to sustain its growth or manage it effectively. The company cannot assure you that the company will be able to successfully execute its growth strategies, which could affect the company's business, prospects, results of operations and financial condition.
- Risks Relating to the Business: Any shortage, delay, in the procurement of Raw Materials and other Inputs in these materials could materially and adversely affect its business operations, financial performance, and profitability.
- Risks Relating to the Business: Any inability to pass on increased price of key raw material, polymer, used for manufacturing its products may affect the company's profitability.
- Risks Relating to the Business: Sustainability-driven material shifts and regulation may lower demand for plastic IML/End Caps and adversely affect the company's business, financial condition, and results of operations.
- Risks Relating to the Business: The company has certain outstanding litigation against the Company, Directors and Promoters an adverse outcome of which may adversely affect its business, reputation and results of operations.
- Risks Relating to the Business: The company intend to utilise a portion of the Net Proceeds for funding our capital expenditure requirements. This includes Construction of shed of proposed set up of unit at Plot no. 552 at GIDC, Sanand, Ahmedabad and which may be subject to risk of unanticipated delays in implementation, cost overruns and other project risks and uncertainties.
- Risks Relating to the Business: The company has significant capital expenditure requirements and may require additional funding in the future.The company's inability to obtain such funding on time or on acceptable terms may adversely affect its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: There have been certain instances of delays in payment of certain statutory dues by it. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on its financial condition and cash flows.
- Risks Relating to the Business: The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
- Risks Relating to the Business: There have been instances of delays in filings of certain forms which were required to be filed as per the reporting requirements as well as discrepancies in the forms submitted to the Registrar of Companies (ROC)/Central Registration Centre (CRC) in accordance with the Companies Act, 2013.
- Risks Relating to the Business: Any defect, contamination, or non-conformity in the company's packaging products used for food applications could result in reputational loss and potential regulatory action.
- Risks Relating to the Business: The company has entered into and may enter into related party transactions in the future also, which may have an adverse effect on its business, prospects, results of operations and financial condition.
- Risks Relating to the Business: The company's business is dependent on the growth and performance of the FMCG, food, dairy, and SAW pipe manufacturing industries, and any slowdown or adverse developments in these industries may adversely affect its business, financial condition, and results of operations.
- Risks Relating to the Business: The company faces intense competition from domestic and international players with larger resources and advanced technological capabilities, which may adversely affect its market share, pricing, and growth prospects.
- Risks Relating to the Business: Entry of low-cost imported products in the Indian market may adversely impact its pricing, margins, and market share.
- Risks Relating to the Business: The company's dependence on electronic and automation components used in its manufacturing machinery may adversely affect the company's production and delivery schedules.
- Risks Relating to the Business: Any defect or quality issue in the company's products may adversely impact its reputation, customer trust, and financial performance.
- Risks Relating to the Business: The company's revenues are concentrated in a few end-use industries, and any slowdown or shift in those industries could adversely affect its business, results of operations, financial condition, and cash flows.
- Risks Relating to the Business: Effective inventory management is crucial to avoid overstocking or stockouts, and any failures may adversely impact its business, financial condition, and results of operations.
- Risks Relating to the Business: If the company is unable to effectively manage or expand its sales and service network or pursue the company's growth strategy, the company's business prospects, financial condition, and results of operations may be adversely affected.
- Risks Relating to the Business: The company is seeking to diversify its product portfolio; however, there can be no assurance that such initiatives will achieve the intended results or reduce our dependence on the company's existing products.
- Risks Relating to the Business: The company's manufacturing operations are subject to environmental, and safety regulations, and any non-compliance could adversely affect its business operations and reputation.
- Risks Relating to the Business: The company's inability to keep pace with changing packaging design trends or customer preferences may adversely affect its competitiveness and business growth.
- Risks Relating to the Business: The company is dependents on its Promoters and Directors, the company's other key managerial personnel, senior management personnel and employees (including qualified and skilled personnel with technical expertise) for the continued success of its business through their continuing services and strategic guidance and support and if the company is unable to recruit and retain such personnel, the company's business, results of operations, financial condition and cash flows may be adversely affected.
- Risks Relating to the Business: Certain immediate relatives of the company's Promoters, who are deemed to be part of the Promoter Group under the SEBI ICDR Regulations, have not provided their consent, information, or confirmations, and the Company has accordingly sought exemption from SEBI under Regulation 300 of the SEBI ICDR Regulations.
- Risks Relating to the Business: The company is subject to counterparty credit risk, and delays or defaults in payments from its customers may adversely affect the company's business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company has certain outstanding borrowings which require significant cash flows to service and are subject to conditions and restrictions under its financing arrangements, which may limit the company's operational flexibility. Any failures to comply with financial and other covenants under these borrowings could adversely affect the company's business, financial condition, and results of operations.
- Risks Relating to the Business: The may face several risks associated with the construction of the building of the Proposed Facility, which could hamper its growth, prospects, cash flows and business and financial condition
- Risks Relating to the Business: Currency fluctuations pose a financial risk by increasing the cost of imported products, creating uncertainty in pricing and margins, and potentially eroding profitability if not effectively managed.
- Risks Relating to the Business: If the company is unable to protect, maintain, or obtain registrations for its intellectual property, including trademarks and patents, or if such rights are infringed, the company's business, reputation, and financial condition may be adversely affected.
- Risks Relating to the Business: Failures to meet the company's production timelines may impact its reputation and could also lead to cancellation of the company's orders.
- Risks Relating to the Business: The company's insurance coverage may not be adequate to protect it against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
- Risks Relating to the Business: The company's net cash flows have been negative in some years in the past. Any negative cash flow in the future may affect its liquidity and financial condition.
- Risks Relating to the Business: The company is dependents on the availability of timely and cost-efficient third-party transportation and logistics service providers for the delivery of its products to customer locations.
- Risks Relating to the Business: Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- Risks Relating to the Business: Misconduct or errors by manpower engaged by it could expose us to business risks or losses that could affect the company's business prospects, results of operations and financial condition.
- Risks Relating to the Business: The company's Promoter Directors do not have any prior experience of being a director in any other listed company in India and this may present certain potential challenges for the Company.
- Risks Relating to the Business: The company is subject to the risk of failures of, or a material weakness in, the company's internal control systems, may result in a material effect on its business, financial condition and results of operations.
- Risks Relating to the Business: The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further the company has not identified any alternate source of financing the Objects of the Issue. Any shortfall in raising / meeting the same could adversely affect its growth plans, business operations and financial condition.
- Risks Relating to the Business: The company's funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of the Net Proceeds.
- Risks Relating to the Business: The company's Promoters hold Equity Shares in the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Risks Relating to the Business: The company's funding requirements and the proposed deployment of Net Proceeds are not appraised by any independent agency, which may affect its business and results of operations.
- Risks Relating to the Business: The company's Promoters have given personal guarantees in relation to certain debt facilities provided to the Company by its lenders. In the event of default on the debt obligations, the personal guarantees may be invoked thereby adversely affecting the company's Promoters ability to manage the affairs of the Company and consequently this may impact its business, prospects, financial condition and results of operations.
- Risks Relating to the Business: The company has relied on third party reports and not independently verified certain data in this Draft Red Herring Prospectus, and any errors or discrepancies in the same may.
- Risks Relating to the Business: Any inability to maintain customer satisfaction, service quality and product standards, or to retain and expand the company's customer base, could adversely affect its business, financial condition and results of operations.
- Risks Relating to the Business: The company's business operations may be disrupted by an interruption in power supply which may impact its business operations.
- Risks Relating to the Business: The company has certain contingent liabilities and its financial condition and profitability may be adversely affected if any of these contingent liabilities materialize.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by its Promoters could be lower than the Issue Price.
- Risks Relating to the Business: The company has not paid any dividends in the last three Financial Years. The company's ability to pay dividends in the future will depend upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- Risks Relating to the Business: The company's Promoters' shareholding before and after the completion of the Issue, is substantial which will allow them to influence the outcome of matters submitted for approval of its shareholders.
- Risks Relating to the Business: The company's Equity Shares have never been publicly traded and may experience price and volume fluctuations following the completion of the Issue, an active trading market for the Equity Shares may not develop, the price of its Equity Shares may be volatile and the Investors may be unable to resell their Equity Shares at or above the Issue Price or at all.
- Risks Relating to the Business: The requirements of being a listed company may strain the company's resources and distract management.
- Risks Relating to the Business: The company may require further equity issuance, which will lead to dilution of equity and may affect the market price of its Equity Shares.
- Risks Relating to the Business: The company may raise additional funds through incurring debt to satisfy its capital needs, which the company may not be able to procure.
- Risks Relating to the Business: The company has in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
- Risks Relating to the Business: Investors may be subject to taxes arising out of capital gains on the sale of its Equity Shares.
- Risks Relating to the Business: Holders of Equity Shares could be restricted in their ability to exercise pre-emptive rights under Indian law and could thereby suffer future dilution of their ownership position.
- Risks Relating to the Business: Under Indian law, foreign investors are subject to investment restrictions that limit its ability to attract foreign investors, which may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- Risks Relating to the Business: QIBs and NIBs are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid, and Individual Bidders are not permitted to withdraw their Bids after the Bid/ Issue Closing date.
- Risks Relating to the Business: A majority of the company's revenue from operations is from its top 10 customers (which accounted for 51.27%, 46.37% and 49.76% of the company revenue from operations for Fiscal Year ended March 31, 2026, March 31, 2025 and March 31, 2024). Additionally, a significant portion of its revenue from operations is derived from the company existing customers. Loss of any such customers or reduction in business or demand from such customers will have a significant adverse impact on its business and results of operation.
- Risks Relating to the Business: The company depends on a limited number of suppliers for its raw material requirements of the company's business. Further, its does not have definitive agreements or fixed terms of trade with most of the company suppliers. Failures to successfully leverage its relationships with existing suppliers or to identify new suppliers could adversely affect the company's business operations.
- Risks Relating to the Business: Pending NCLT proceedings for revision of Financial Statements and Board's Reports may result in regulatory action and penalties.
- Risks Relating to the Business: There have been certain instances of delays in payment of certain statutory dues by the company. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on its financial condition and cash flows.
- Risks Relating to the Business: There have been instances of delays in filings of certain forms which were required to be filed as per the reporting requirements as well as discrepancies in the forms submitted to the Registrar of Companies (ROC)/Central Registration Centre (CRC) in accordance with the Companies Act, 2013.
- Risks Relating to the Business: Any disruptions to the supply, or increases in the pricing, of the raw materials and finished products that the company procure, may adversely affect the supply and pricing of its products and, in turn, adversely affect the company's business, cash flows, financial condition and results of operations.
- Risks Relating to the Business: The company's revenues are significantly dependent on certain geographical regions, and any adverse developments in these regions could adversely impact its business, financial condition and results of operations.
- Risks Relating to the Business: The company's manufacturing facilities are located only in the state of Gujarat. Any adverse developments affecting its operations in the Gujarat could have an adverse impact on the company's revenue and results of operations.
- Risks Relating to the Business: The company's business is operating under various laws which requires it to obtain approvals from the concerned statutory/regulatory authorities in the ordinary course of business, and if the company is unable to obtain these approvals and the renewals, its business operations could be adversely affected thereby impacting the company's revenues and profitability.
- Risks Relating to the Business: The company's business operations are highly dependent on the efficient functioning of its manufacturing machinery, and any breakdown, malfunction or technical failures may adversely affect the company's production and profitability.
- Risks Relating to the Business: The company operates its business from leased premises, including certain premises held under short-term lease arrangements, and any disruption or non-renewal of such leases may adversely affect the company's business.
- Risks Relating to the Business: The company has not yet placed orders in relation to the capital expenditure to be incurred for the proposed purchase of equipment / machineries. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the equipment / machineries in a timely manner, or at all, the same may result in time and cost over-runs.
- Risks Relating to the Business: The company has experienced growth in recent years and may be unable to sustain its growth or manage it effectively. The company cannot assure you that its will be able to successfully execute the company growth strategies, which could affect its business, prospects, results of operations and financial condition.
- Risks Relating to the Business: Any shortage, delay, in the procurement of Raw Materials and other Inputs in these materials could materially and adversely affect the company's business operations, financial performance, and profitability.
- Risks Relating to the Business: The company's net cash flows have been negative in some years in the past. Any negative cash flow in the future may affect its liquidity and financial condition.
- Risks Relating to the Business: Any inability to pass on increased price of key raw material, polymer, used for manufacturing the company products may affect its profitability.
- Risks Relating to the Business: Sustainability-driven material shifts and regulation may lower demand for plastic IML/End Caps and adversely affect the company's business, financial condition, and results of operations.
- Risks Relating to the Business: The company has certain outstanding litigation against the Company, Directors and Promoters an adverse outcome of which may adversely affect its business, reputation and results of operations.
- Risks Relating to the Business: The company's intend to utilise a portion of the Net Proceeds for funding its capital expenditure requirements. This includes Construction of shed of proposed set up of unit at Plot no. 552 at GIDC, Sanand, Ahmedabad and which may be subject to risk of unanticipated delays in implementation, cost overruns and other project risks and uncertainties.
- Risks Relating to the Business: The company has significant capital expenditure requirements and may requires additional funding in the future. Its inability to obtain such funding on time or on acceptable terms may adversely affect the company's business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The restated financial statements have been provided by peer reviewed chartered accountants who is not statutory auditor of the Company.
- Risks Relating to the Business: Any defect, contamination, or non-conformity in the company packaging products used for food applications could result in reputational loss and potential regulatory action.
- Risks Relating to the Business: The company has entered into and may enter into related party transactions in the future also, which may have an adverse effect on its business, prospects, results of operations and financial condition.
- Risks Relating to the Business: The company's business is dependent on the growth and performance of the FMCG, food, dairy, and SAW pipe manufacturing industries, and any slowdown or adverse developments in these industries may adversely affect its business, financial condition, and results of operations.
- Risks Relating to the Business: The company faces intense competition from domestic and international players with larger resources and advanced technological capabilities, which may adversely affect its market share, pricing, and growth prospects.
- Risks Relating to the Business: Entry of low-cost imported products in the Indian market may adversely impact the company pricing, margins, and market share.
- Risks Relating to the Business: The company's dependence on electronic and automation components used in its manufacturing machinery may adversely affect the company production and delivery schedules.
- Risks Relating to the Business: Any defect or quality issue in the company products may adversely impact its reputation, customer trust, and financial performance.
- Risks Relating to the Business: The company's revenues are concentrated in a few end-use industries, and any slowdown or shift in those industries could adversely affect its business, results of operations, financial condition, and cash flows.
- Risks Relating to the Business: Effective inventory management is crucial to avoid overstocking or stockouts, and any failures may adversely impact the company's business, financial condition, and results of operations.
- Risks Relating to the Business: If the company is unable to effectively manage or expand its sales and service network or pursue the company growth strategy, its business prospects, financial condition, and results of operations may be adversely affected.
- Risks Relating to the Business: The company is seeking to diversify its product portfolio; however, there can be no assurance that such initiatives will achieve the intended results or reduce the company dependence on its existing products.
- Risks Relating to the Business: The company's manufacturing operations are subject to environmental, and safety regulations, and any non-compliance could adversely affect its business operations and reputation.
- Risks Relating to the Business: The company's inability to keep pace with changing packaging design trends or customer preferences may adversely affect its competitiveness and business growth.
- Risks Relating to the Business: The company new manufacturing facility at Sanand-II, upon commissioning, will significantly increase its installed manufacturing capacity. In the event that demand for the company products does not grow proportionately, its new facility may be underutilised. Low-capacity utilisation would increase the company fixed cost per unit, reduce its EBITDA margins, and adversely affect the company's business, financial condition and revenue from operations. There can be no assurance that its will be able to achieve the projected utilisation levels at the new facility within the anticipated timeframe.
- Risks Relating to the Business: The company is dependent on its Promoters and Directors, the company other key managerial personnel, senior management personnel and employees (including qualified and skilled personnel with technical expertise) for the continued success of its business through their continuing services and strategic guidance and support and if the company is unable to recruit and retain such personnel, its business, results of operations, financial condition and cash flows may be adversely affected.
- Risks Relating to the Business: Certain immediate relatives of the company Promoters, who are deemed to be part of the Promoter Group under the SEBI ICDR Regulations, have not provided their consent, information, or confirmations, and the Company's application to SEBI seeking exemption from such disclosure requirements has been rejected. It may result in perceived disclosure gaps that could adversely affect investor confidence, its reputation, and the marketability of the Issue.
- Risks Relating to the Business: The company is subject to counterparty credit risk, and delays or defaults in payments from its customers may adversely affect the company's business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company has certain outstanding borrowings which requires significant cash flows to service and are subject to conditions and restrictions under its financing arrangements, which may limit the company operational flexibility. Any failures to comply with financial and other covenants under these borrowings could adversely affect its business, financial condition, and results of operations.
- Risks Relating to the Business: The company may faces several risks associated with the construction of the building of the Proposed Facility, which could hamper its growth, prospects, cash flows and business and financial condition.
- Risks Relating to the Business: Currency fluctuations pose a financial risk by increasing the cost of imported products, creating uncertainty in pricing and margins, and potentially eroding profitability if not effectively managed.
- Risks Relating to the Business: If the company is unable to protect, maintain, or obtain registrations for its intellectual property, including trademarks and patents, or if such rights are infringed, the company's business, reputation, and financial condition may be adversely affected.
- Risks Relating to the Business: Failures to meet the company production timelines may impact its reputation and could also lead to cancellation of the company orders.
- Risks Relating to the Business: The company's insurance coverage may not be adequate to protect it against all potential losses to which the company may be subject and this may have a material effect on its business and financial condition.
- Risks Relating to the Business: The company is dependent on the availability of timely and cost-efficient third-party transportation and logistics service providers for the delivery of its products to customer locations.
- Risks Relating to the Business: Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- Risks Relating to the Business: Misconduct or errors by manpower engaged by the company could expose it to business risks or losses that could affect the company's business prospects, results of operations and financial condition.
- Risks Relating to the Business: The company's Promoter Directors does not have any prior experience of being a director in any other listed company in India and this may present certain potential challenges for the Company.
- Risks Relating to the Business: The company is subject to the risk of failures of, or a material weakness in, its internal control systems, may result in a material effect on the company's business, financial condition and results of operations.
- Risks Relating to the Business: The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Issue. Further the company has not identified any alternate source of financing the Objects of the Issue. Any shortfall in raising / meeting the same could adversely affect its growth plans, business operations and financial condition.
- Risks Relating to the Business: The company funding requirements and the proposed deployment of Net Proceeds have not been appraised by any bank or financial institution or any other independent agency and its management will have broad discretion over the use of the Net Proceeds.
- Risks Relating to the Business: Its Promoters hold Equity Shares in the Company and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Risks Relating to the Business: The company's funding requirements and the proposed deployment of Net Proceeds are not appraised by any independent agency, which may affect its business and results of operations.
- Risks Relating to the Business: The company's Promoters have given personal guarantees in relation to certain debt facilities provided to the Company by its lenders. In the event of default on the debt obligations, the personal guarantees may be invoked thereby adversely affecting its Promoters ability to manage the affairs of the Company and consequently this may impact its business, prospects, financial condition and results of operations.
- Risks Relating to the Business: The company has relied on third party reports and not independently verified certain data in this Red Herring Prospectus, and any errors or discrepancies in the same may.
- Risks Relating to the Business: Any inability to maintain customer satisfaction, service quality and product standards, or to retain and expand the company customer base, could adversely affect its business, financial condition and results of operations.
- Risks Relating to the Business: The company's business operations may be disrupted by an interruption in power supply which may impact its business operations.
- Risks Relating to the Business: The company has certain contingent liabilities and its financial condition and profitability may be adversely affected if any of these contingent liabilities materialize.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares by the company Promoters could be lower than the Issue Price.
- Risks Relating to the Business: The company has not paid any dividends in the last three Financial Years. Its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
- Risks Relating to the Business: The company 's Promoters' shareholding before and after the completion of the Issue, is substantial which will allow them to influence the outcome of matters submitted for approval of its shareholders.
- Risks Relating to the Business: The company's Equity Shares have never been publicly traded and may experience price and volume fluctuations following the completion of the Issue, an active trading market for the Equity Shares may not develop, the price of its Equity Shares may be volatile and the Investors may be unable to resell their Equity Shares at or above the Issue Price or at all.
- Risks Relating to the Business: The requirements of being a listed company may strain its resources and distract management.
- Risks Relating to the Business: Its may requires further equity issuance, which will lead to dilution of equity and may affect the market price of the company Equity Shares.
- Risks Relating to the Business: Its may raise additional funds through incurring debt to satisfy the company capital needs, which its may not be able to procure.
- Risks Relating to the Business: The company has in the last 12 months issued Equity Shares at a price that may be at lower than the Issue Price.
- Risks Relating to the Business: Investors may be subject to taxes arising out of capital gains on the sale of the company Equity Shares.
- Risks Relating to the Business: Holders of Equity Shares could be restricted in their ability to exercise pre-emptive rights under Indian law and could thereby suffer future dilution of their ownership position.
- Risks Relating to the Business: Under Indian law, foreign investors are subject to investment restrictions that limit the company ability to attract foreign investors, which may adversely affect the trading price of the Equity Shares.
- Risks Relating to the Business: Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- Risks Relating to the Business: QIBs and NIBs are not permitted to withdraw or lower their Bids (in terms of quantity of Equity Shares or the Bid Amount) at any stage after submitting a Bid, and Individual Bidders are not permitted to withdraw their Bids after the Bid/ Issue Closing date.
