Mahamaya Lifesciences Ltd IPO

Its top ten customers constituted 79.18%, 83.14%, 71.12% and 73.09% of the company sales for the period ended September 30, 2024 and for the financial year ended March 31, 2024, March 31, 2023, March 31, 2022 respectively. Absence of large number of customers, dependence on few customers and creating a customer concentration risk which may have an adverse impact on its business operations and financial performance.

The Company has not entered into long-term agreements with its customers for purchasing the company products nor for the supply of raw materials with its suppliers. The company is subject to uncertainties in demand/supply and there is no assurance that these customers and suppliers will continue to purchase its products or sell raw materials to it or that they will not scale down their orders. This could impact the business and financial performance of the Company.

Raw materials constitute a significant percentage of the Company's total expenses. Any increase in prices and any decrease in the supply would materially adversely affect the Company's business.

The company is required to obtain and/or renew certain registrations from the CIB&RC for its products manufactured in India. The company also register its products in overseas jurisdictions through the company International Distribution Partners to enable exports to such countries. Any failure to successfully register its products in India or in the international markets may affect its results of operations and financial condition.

The company has complied with the timely filing requirement for statutory dues but have faced delays in payment due to technical issue.

The company is party to certain litigation and claims. These legal proceedings are pending at different levels of adjudication before various forums and regulatory authorities. Any adverse decision may make us liable to liabilities /penalties and may adversely affect its reputation, business, and financial status.

Risk of Discrepancy in TDS Remittance and Website Reflection.

Its may not be able to avail funding from banks or financial institution for the company future working capital requirements. The failures to obtain such financing may adversely affect its ability to grow and the company future profitability.

The Objects of the Offer 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 its management and as per the details mentioned in the section titled "Objects of the Offer". Any revision in the estimates may require it to reschedule the company expenditure and may have a bearing on its expected revenues and earnings.

The Company had negative cash flows, details of which are given below. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.