Innova Captab Ltd IPO

Its Restated Consolidated Financial Information are not comparable on a period-to-period basis and to any future financial results that its may prepare and further, the company Pro Forma Condensed Consolidated Financial Information have not been prepared in accordance with generally accepted accounting principles including accounting standard and therefore, is subject to change and may not give an accurate picture of its factual results of operations or financial condition.

The company operate in a market that is highly competitive. Its compete to provide outsourced pharmaceutical manufacturing services or CDMO services and products, particularly for formulations, to pharmaceutical companies in India and other jurisdictions. In addition, its branded generic products compete with generic products of other suppliers in India and other jurisdictions.

The company has recently acquired Sharon, and does not yet know whether it will achieve the expected benefits from such acquisition, which could materially adversely affect its business, results of operation, cash flows and financial condition.

Its business is dependent and will continue to depend on the company manufacturing facilities, and its subject to certain risks in the company's manufacturing process such as the breakdown or failure of equipment, industrial accidents, severe weather conditions and natural disasters.

The company depends on a limited number of contract development and manufacturing organization ("CDMO") customers. Any reduction in the number of CDMO customers and adverse developments or inability to enter into or maintain relationships with these CDMO customers could have an adverse effect on its business, results of operations and financial condition.

Failure to comply with the quality requirements and technical specifications prescribed by its customers may lead to loss of business from such customers and could negatively impact its business, results of operations and financial condition, including cancellation of existing and future orders which may expose it to warranty claims.

Its funding requirements and proposed deployment of the Net Proceeds are based on management estimates and may be subject to change based on various factors, some of which are beyond its control.

The company has incurred significant capital expenditure during the last three Fiscal Years and the three months ended June 30, 2023. Its may require substantial financing for the company's business operations and planned capital expenditure and the failure to obtain additional financing on terms commercially acceptable to it may adversely affect its ability to grow and the company future profitability.

Its dependence on China, China SEZ and Hong Kong for the company raw material supplies exposes it to political, economic and social conditions in greater China.

Its business is capital intensive. Any insufficient cash flows from its operations or inability to borrow to meet the company working capital requirements, it may materially and adversely affect its business and results of operations.