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Risks

• There are certain outstanding legal proceeding involving the company Promoter and Promoter Entities which may adversely affect its business, financial condition and results of operations.

• The company intends to use a portion of the Net Proceeds to prepay / repay certain loan facilities.

• If the company is unable to attract new clients or its existing clients do not renew their contract or default in payments, the growth of the company business and cash flows will be adversely affected.

• The company is dependent upon few suppliers for procurement of raw materials for its outdoor marketing and advertisements including exhibitions, campaigns etc; In an eventuality where the company suppliers are unable to deliver it the required materials in a time-bound manner it may have a material adverse effect on its business operations and profitability.

• The company derives a significant portion of its revenue from the company outdoor advertising services. Therefore, factors that adversely affect the demand for such operations or its position or reputation as a provider for the mentioned services may adversely affect the company business and results of operations.

• The Company`s business operations are done PAN India and any downturn and/ or any economic, regulatory, social and political change in any of the Indian states in which its operate or seek to operate may affect the companyh market share and/ or may adversely affect its business, financial condition and results of operations.

• The company has working capital requirements. If its experience insufficient cash flows to make required payments on the company debt or fund working capital requirements, there may be an adverse effect on its results of operations.

• Any IT system failures or lapses on part of any of the company employees may lead to operational interruption, liabilities or reputational harm.

• The company store its raw materials and finished goods in godowns from which the company operate, though its take utmost care in maintaining them but there may be chances of spoilage of products due to weather conditions or infections etc.

• If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.

• Advertising business is dependent on availability of space or sites for publishing of ads or displaying the hoardings with the media agency. Any significant increase in the prices of such ad space or sites or nonavailability of such ad space or sites may adversely affect the company business and results of operations.

• The company may be unable to respond to changes in consumer demands and market trends in a timely manner.

• The company could become liable to customers, suffer adverse publicity and incur substantial costs as a result of defects in its services, which in turn could adversely affect the value of the company brand, and its sales could be diminished if the company is associated with negative publicity.

• The company has contingent liabilities, and its financial condition could be adversely affected if any of these contingent liabilities materializes.

• The company Promoters plays a key role in its functioning and the company heavily rely on their knowledge and experience in operating its business and therefore, it is critical for the company business that its promoter remain associated with it.

• Unsecured loans taken by the Company can be recalled by the lenders at any time.

• The Company has not registered the trademark. its ability to use the trademark may be impaired if the same is not registered under the company name.

• The company financing agreements contain covenants that limit its flexibility in operating the company business. Its inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect the company business, results of operations and financial condition.

• There are certain discrepancies and non- compliances noticed in some of the company corporate records relating to forms filed with the Registrar of Companies and taxation authorities.

• There have been several instances of delay/ default in payment of statutory dues and filing of statutory returns by the Company in the past.

• The company has in the past entered into related party transactions and may continue to do so in the future.

• The company insurance coverage may not be adequate.

• The company does not own the premises in which its registered office and branch offices are located and the same are on lease arrangement. Any termination of such lease/license and/or non-renewal thereof and attachment by Property Owner could adversely affect the company operations.

• The Company had negative cash flow from certain activity in recent fiscals, details of which are given below.

• The Company has allotted Equity Shares during the preceding one year from the date of the Draft Prospectus which are lower than the Issue Price.

• There may be potential conflicts of interest if the company Promoters or Directors get involved in any business activities that compete with or are in the same line of activity as its business operations.

• The company is dependent on a number of key employees, including its senior management, and the loss of or the company inability to attract or retain such persons with specialized technical know-how could adversely affect its business, results of operations, cash flows and financial condition.

• In addition to normal remuneration or benefits and reimbursement of expenses, some of the company directors and key managerial personnel are interested in the Company to the extent of their shareholding and dividend entitlement in the Company.

• The company Promoters have provided personal guarantees for a portion of borrowings taken by Company to secure such loans.

• The company has not commissioned an industry report for the disclosures made in the chapter titled "Industry Overview" and made disclosures on the basis of the data available on the internet.

• If the company is not able to obtain, renew or maintain the statutory and regulatory permits and approvals required to operate its business it may have an adverse effect on the company business.

• Any increase in interest rates would have an adverse effect on the company results of operations and will expose the Company to interest rate risks.

• The company operates in a competitive environment and face fair competition in its business from organized and unorganized players, which may adversely affect the company business operations and financial condition.

• If the company is unable to source business opportunities effectively, its may not achieve of the financial objectives.

• The company inability to effectively manage its growth or to successfully implement the company business plan and growth strategies could have an adverse effect on its business, results of operations and financial condition. The success of the company business will depend greatly on its ability to effectively implement the company business and growth strategies.

• Any inability to address changing industry standards and consumer trends may adversely affect the company business, results of operations and financial condition.

• The company could be harmed by employee misconduct or errors that are difficult to detect and any such incidences could adversely affect its financial condition, results of operations and reputation.

• An inability to renew quality accreditations in a timely manner or at all, or any deficiencies in the quality of the company products may adversely affect its business prospects and financial performance.

• The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Offer. Further the company have not identified any alternate source of financing the `Objects of the Offer`.

• Delay in raising funds from the IPO could adversely impact the implementation schedule.

• There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the Board of Directors, though it shall be monitored by the Audit Committee.

• Orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on the company business, financial condition and results of operations.

• The Company has not appointed any independent agency for the appraisal of the proposed Project.

• The continuing effect of the COVID-19 pandemic on the company business and operations is highly uncertain and cannot be predicted.

• Any variation in the utilization of the Net Proceeds as disclosed in this Draft Prospectus shall be subject to certain compliance requirements, including prior Shareholders` approval.

• The requirements of being a public listed company may strain its resources and impose additional requirements.