Maitreya

Key Multi-speciality tertiary and quaternary healthcare provider providing well diversified and specialized service offerings and strong brand recognition.

Regional leadership through delivering clinical excellance and affordable healthcare in South Gujrat.

Quality health care services.

Experienced senior management team.

Track Record of stable operating and financial performance and growth.

Ability to attract, train and retain high quality doctors, consultants and medical support staff.

The Hospital is highly dependent on its doctors, nurses and other healthcare professionals, as well as other key personnel and the loss of, or inability to attract or retain, such persons could adversely affect its business and results of operations.

There are outstanding legal proceedings involving the Hospital which may adversely affect its business, financial condition and results of operations.

The Hospital is highly dependent on its healthcare professionals including doctors, nurses that the hospital engage on a consultancy basis. If such medical staff discontinue their association with it or are unable to provide their services at the hospitals for any reason or if the hospital are unable to attract or retain such consultants/full time doctors, and other healthcare professionals, its business, results of operations and cash flows may be materially and adversely affected.

The Hospital has in the past not complied with some statutory provisions of the Companies Act, 2013/1956, further; there have been some instances of delay and non-filing of various forms which were required to be filed under the provisions of the Act, rules and regulations made thereunder with the RoC.

The Hospital may generate revenue from the arrangements with government sponsored health schemes, any adverse change in these regulations/ government policies related to such schemes may adversely affect its business, results of operations, cash flows and prospects.

The Hospital is yet to apply for approvals and licenses for the proposed Valsad hospital in the subsidiary Hospital Maitreya Hospital Pvt Ltd and can be applied only after operations are commenced, so in case the Hospital is unable to obtain required applicable approvals and licenses on time it will effect the Hospital revenues, credibility and future plans.

The Hospital is exposed to legal claims and regulatory actions arising from the provision of healthcare services and may be subject to liabilities arising from claims of malpractice and medical negligence which could materially and adversely affect its reputation and prospects.

The Hospital operations are geographically located in one area at present and any localized social unrest, natural calamities, etc. could have material adverse effect on business and financial operations.

The Hospital is dependent on certain field of specialty for a substantial portion of its revenue, i.e. cardiology, neurology, Orthopedics and general medicine. Any material impact on the Hospital earnings from these fields will impact its financial condition and results of operations significantly.

Delay in receipt of payment from the Hospital patients/ customers may affect its cash flows, which may, in turn affect of the financial condition and results of operations.

The Hospital is dependent on limited number of external suppliers for its medicine and consumables requirements. Any delay or failure on the part of such suppliers to deliver products at acceptable prices, may adversely affect its business, profitability and reputation.

The Hospital face intense competition from other healthcare service providers. If its are unable to compete effectively, the Hospital business, results of operations and cash flows may be materially and adversely affected.

The Hospital is yet to place orders for its Plant & Machineries, Medical Equipments, Office Equipment for the proposed Hospital at Valsad, Gujarat. Any delay in ordering the said machines or equipments may delay the implementation schedule, which may also lead to increase in prices of these equipments in future effecting its costs, revenue and profitability.

Unsecured loan taken by the Hospital from its Promoters and Directors, Dr Narendra Singh Tanwar, Dr Pranav Thaker, Mr Vimal Patel and other promoter group can be recalled at any time.

If the Hospital is unable to keep pace with technological changes, new equipment and service introductions, changes in patients` needs and evolving industry standards, its business and financial condition may be adversely affected.

The Hospital may be unable to adequately protect its intellectual property and may be subject to risks of infringement claims.

If the Hospital is unable to maintain bed occupancy rates at sufficient levels, its may not be able to generate adequate returns on the Hospital capital expenditure, could adversely affect its operating efficiencies and the Hospital profitability.

The hospital does not own the land on which its hospital at Vesu, Surat in state of Gujarat have been set-up. Any revocation or adverse changes in the terms of the lease may have an adverse effect on the Hospital business, prospects, results of operations and financial condition.

The Hospital derives a significant portion of its revenues from the tie up arrangements with Governmental organizations, insurance Hospital third party administrators and corporations. The loss of any one or more of its major customers would have a material effect on the hospital business operations and profitability.

Setting up a new super speciality hospital at Valsad, Gujarat in the Hospital subsidiary requires a substantial capital outlay before its realize any benefits or returns on investments. The Hospital may be unsuccessful in implementing its growth plans of expansion in a timely manner or at all, which may have an adverse effect on its business, financial condition and results of operations.

The Hospital has substantial working capital requirements. Its inability to obtain and / or maintain sufficient cash flow, credit facilities and other sources of funding in a timely manner to meet the Hospital requirements of working capital or payment of the debts, could adversely affect its operations.

The yield on 57,36,300 6%, Cumulative Non- Convetible Preference Shares outstanding as on the date of this DRHP is not paid and is being accumulated over the years.

The Objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution. The deployment of funds is entirely at the discretion of the management and as per the details mentioned in the section titled "Objects of the Issue". Any revision in the estimates may require it to reschedule the Hospital expenditure and may have a bearing on its expected revenues and earnings.

The Hospital Industry is highly regulated and requires it to obtain, renew and maintain statutory and regulatory permits, accreditations, licenses and comply with applicable safety, health, environmental, labour and other governmental regulations. Any regulatory changes or violations of such rules and regulations may adversely affect its business, financial condition and results of operations.

The Hospital ability to provide affordable healthcare depends on the maintenance of a high volume of patients, occupancy rates, managing operating & project costs and effective capital management. Any increase in such costs could adversely affect the Hospital business, financial condition and results of operations.

The Hospital has experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect its cash flow requirements, which in turn may adversely affect the Hospital ability to operate its business and implement the Hospital growth plans, thereby affecting of the financial condition.

The Hospital have certain contingent liabilities, which, if materialized, may affect its financial condition and results of operations.

The Hospital arrangements with some of its doctors may give rise to conflicts of interest and time-allocation constraints, adversely affecting its operations.

The Hospital could be exposed to risks relating to the handling of personal information, including medical data.

The Hospital Promoters, Directors, related entities and other ventures promoted by its promoters are engaged in a similar line of business and the Hospital do not have a non- compete agreement or contract with any of these entities, and hence a potential conflict of interest may arise.

The average cost of acquisition of Equity Shares by the Hospital Promoters is lower than the Issue Price.

The Hospital has in the past entered into related party transactions and may continue to do so in the future. There can be no assurance that such transactions, individually or in the aggregate, will not have an adverse effect on its financial condition and results of operations.

The Hospital agreements with banks and financial institutions for financial arrangements contain restrictive covenants for certain activities and if its are unable to get their approval, it might restrict the Hospital scope of activities and impede its growth plans.

The Hospital cannot assure you that its will be able to secure adequate financing in the future on acceptable terms, in time, or at all. The Hospital failure to obtain sufficient financing could result in delay or abandonment of its business plans and this may have an adverse effect on the Hospital growth and operations.

The Hospital inability to continue to obtain equipment and ancillary services from its key suppliers could affect the Hospital business and results of operations.

The Hospital is vulnerable to failures of its information technology system, which could adversely affect of the business.

The Hospital Promoter and Promoter Group will continue to retain significant control in its Hospital after the Issue, which will allow them to influence the outcome of matters submitted to shareholders for approval. Such a concentration of ownership may also have the effect of delaying, preventing or deterring a change in control.

The impact of the COVID-19 pandemic on the Hospital business and operations is uncertain and cannot be predicted.

The Hospital ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures and are also prohibited by the terms of the Hospital financing arrangements.

The Hospital insurance cover may not adequately protect it and this may have an adverse effect on its business and revenues.

The Hospital propose to utlize the Net Proceeds for purposes identified in the section titled "Objects of the Issue" in this DRHP. Any variation in the utilisation of the Net Proceeds as disclosed in this DRHP shall be subject to certain compliance requirements, including prior shareholders` approval.

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

The Hospital Promoters and certain members of Promoter Group and Directors hold Equity Shares in the Hospital and are therefore interested in the Hospital`s performance in addition to their normal remuneration and reimbursement of expenses.