Crizac Ltd IPO

The Company is heavily dependent on few global institutions of higher education for its revenue. Any loss of such global institutions of higher education may have an adverse impact on its business, results of operations and financial conditions.

The company is heavily dependent on the service of its agents. Loss of any or all such agents may have an adverse impact on its business, results of operations and financial conditions.

Its success depends on the company continued collaboration with global institutions of higher education. Its inability to maintain the company collaboration with such global institutions of higher education may have an adverse impact on its business, results of operations and financial conditions.

Its source of revenue is concentrated to certain geographical locations and its inability to operate and grow the company's business in such countries may have an adverse effect on its business, financial condition, result of operation, cash flow and future business prospects.

The global institutions of higher education with whom the company work have differing criteria to determine its eligibility to earn revenues from education consultancy services.

Proforma Consolidated Financial Information included in this Draft Red Herring Prospectus is presented for illustrative purposes only and may not accurately reflect its financial condition and results of operations.

Any change in the regulations or legislations in relation to VISA from foreign countries could adversely affect its ability to conduct the company's business and impact its financial conditions.

Any disruption or failure in its proprietary technology platform or the company information technology systems or security breaches in its information technology systems may adversely affect its business, results of operations and prospects.

A significant portion of its revenues are from outside India. Adverse foreign currency exchange rate fluctuations could adversely impact its business, results of operation and financial condition.

The company is highly dependent on the services of its Promoters, its key managerial personnels and the company members of senior management. Any loss of their services may impair its ability to operate effectively and may have an adverse impact on its business and financial condition.