What could go wrong.

Risks

1. You may lose some or all of your investment. Shares in an unlisted private company are illiquid and speculative. There is no guaranteed return, dividend, buyback, liquidity or IPO date.
2. The valuation is a certified figure with limits. The ₹340 Cr in the value certificate rests on company records and management representations. It does not define the method or valuation date, and it states that it does not guarantee realisation in an arm’s-length transaction. A different valuer could reach a different value, and future rounds may be priced higher or lower.
3. The financial information is company-provided and not independently verified on this site. Points in the FY26 statements are being reconciled, including a difference between the balance sheet and the notes for trade receivables. Signed, audited statements, including a cash-flow statement, are to be provided in the investor room.
4. Profit is small and the company shows a net loss and negative net worth. FY26 profit before tax was ₹2.01 Cr. After ₹2.51 Cr of tax (including ₹2.00 Cr of deferred tax) the company reported a net loss of ₹49.35 lakh. Reserves are negative, so net worth at 31 March 2026 was negative ₹72.92 lakh.
5. Funding depends on loans from Directors. Unsecured loans from Directors were ₹173.97 Cr at 31 March 2026, and interest on unsecured loans was ₹20.15 Cr in FY26. The terms are not described in the overview. These obligations rank ahead of shareholders and may involve conflicts of interest.
6. The business carries a heavy fixed-asset base. Tangible assets were ₹226.73 Cr, with ₹280.31 Cr added across FY25 and FY26 and ₹32.57 Cr of depreciation in FY26. This raises fixed costs and the risk that assets earn less than expected.
7. The company has a short history under this legal entity. The CIN indicates incorporation in 2024, and FY25 was the first financial year. The track record of the entity itself is limited.
8. Most revenue is project-based. 73.94% of FY26 revenue came from software development and IT consulting, which is billed as project and milestone fees and is not recurring by nature. Recurring subscription and maintenance revenue was 24.29%.
9. The consumer app is early stage. The overview reports 10K+ app downloads. Consumer revenue is not reported as a separate line, and its planned commissions, ads and premium model is not yet a reported source of revenue.
10. Growth plans and targets may not be achieved. The 24-month plan and the ₹4,000 Cr target are management targets. That target is turnover, a volume measure, and not revenue. Expansion in the Middle East and Africa carries regulatory, currency and partner risks.
11. Future funding may dilute you. Additional rounds, and any changes to the capital structure, may reduce your percentage ownership.
12. The offering is not final and depends on legal and regulatory steps. Share class, pricing and shareholder rights are not yet defined. The offering will be subject to company law, foreign-exchange and tax requirements, and it may change or not proceed.
13. Exit is not assured. A listing, buyback or sale depends on eligibility, legal limits, funds available and market conditions, and on the lock-in and transfer terms still to be agreed. See exit and liquidity.
14. Technology and data risks. Service outages, cyber incidents, data loss and dependence on third-party cloud providers could affect operations and customers.

How to read these

Figures come from the company-provided FY25 and FY26 statements and overview, and have not been independently verified on this site. Please read them with the company and structure page and take independent legal, tax and financial advice before deciding.