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Chiraharit Ltd IPO

Status:

Overview

IPO date
29 Sept 2025 to 03 Oct 2025
Face value
₹ 1 per share
Price
₹ 21 to ₹21 per share
Issue Size
14,796,000 shares
(aggregating up to ₹ 31.07 Cr)
Allotment Date
06 Oct 2025
Listing at
NSE
Issue type
Fixed Price - SME
Sector

Objectives of Chiraharit Ltd IPO

Chiraharit Ltd IPO Strategy

About Chiraharit Ltd

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T&C*

Strengths vs Risks of Chiraharit Ltd

Know the pros & cons

Strengths

  • arrowEstablished and proven track record.
  • arrowLeveraging the experience of our Promoters.
  • arrowExperienced management team and a motivated and efficient work force.
  • arrowCordial relations with our customers.
  • arrowQuality Assurance & Control.

Risks

  • arrowOur Company, Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.
  • arrowEPC projects are typically awarded to us on satisfaction of prescribed pre-qualification criteria and following a competitive bidding process. Our business and our financial condition may be adversely affected if new projects are not awarded to us or if contracts awarded to us are prematurely terminated.
  • arrowDependency on Indian Domestic Market for Revenue.
  • arrowWe are dependent on and derive a substantial portion of our revenue from a limited number of customers. Cancellation or orders by customers or delay or reduction in their orders could have a material adverse effect on our business, results of operations and financial condition.
  • arrowThe Company is dependent on a few suppliers for purchases of product/service. The loss of any of these large suppliers may affect our business operations.
  • arrowIn the Past, there has been an instance of non-compliance for failure to open a separate bank account for receipt of share application money in compliance with Section 42 of the Companies Act, 2013. Due to such lapse, the Company is held liable to penal actions by the regulatory authorities under the Companies.
  • arrowThere are certain instances of delays in the past with ROC/Statutory Authorities.
  • arrowThere have been some instances of delayed filing of returns and depositing of statutory dues with regulatory authorities.
  • arrowWe may face several risks associated with the object of the issue of setting up of proposed Manufacturing Unit, which could hamper our growth prospects, cash flows and business and financial condition.
  • arrowWe cannot assure you that the proposed Manufacturing unit will become operational as scheduled, or at all, or operate as efficiently as planned. If we are unable to commission our new facility in a timely manner or without cost overruns, it may adversely affect our business, results of operations and financial condition.
  • arrowThe cost estimates for the proposed manufacturing unit at Plot No: 41, Plastic Park, Mankhal, Tumuloor Village, Maheshwaram Mandal, Ranga Reddy District, Telangana have been derived from management estimates and quotations received from third parties and may not be accurate.
  • arrowOur Company is yet to place orders for civil work and plant & machineries for the proposed manufacturing unit. Any delay in placing orders or completion of civil works or procurement of such machinery may delay the schedule of implementation and possibly increase the cost of commencing operations.
  • arrowWe have experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect our cash flow requirements, which in turn may adversely affect our ability to operate our business and implement our growth plans, thereby affecting our financial condition.
  • arrowOur Group Companies has incurred losses in the past and may incur losses in the future.
  • arrowWe have issued Equity Shares in the last 12 (twelve) months at a price which is lower than the Issue Price.
  • arrowThe average cost of acquisition of Equity Shares by our Promoters is lower than the Issue Price.
  • arrowWe have certain contingent liabilities, which, if materialized, may affect our financial condition and results of operations.
  • arrowDependence on Leased Premises for Business Operations.
  • arrowOur industry is labour intensive, and our business operations may be materially adversely affected by strikes, work stoppages or increased wage demands by our employees or those of our suppliers.
  • arrowWe have substantial working capital requirements. Our inability to obtain and / or maintain sufficient cash flow, credit facilities and other sources of funding in a timely manner to meet our requirements of working capital or payment of our debts, could adversely affect our operations.
  • arrowWe are dependent on Promoters, directors and key managerial personnel of our Company for success whose loss could seriously impair the ability to continue to manage and expand business efficiently.
  • arrowDisruptions or failures in our technology systems may affect our operations. Further, Changes in technology may render our current technologies obsolete or require us to make substantial capital investments.
  • arrowOur projects are exposed to various implementation and other risks, including risks of time and cost overruns, and uncertainties, which may adversely affect our business, financial condition, results of operations, and prospects.
  • arrowChallenges in Brand Establishment and Risks Associated with Not Owning any Intellectual Property Rights.
  • arrowOur insurance coverage may not be adequate to protect us against certain losses and this may have a material adverse effect on our business.
  • arrowWe cannot assure that the execution of our projects will be free from any or all defects, which may adversely affect our business, financial condition, results of operations and prospects.
  • arrowWe may need to raise additional capital in the future for working capital and we may not be able to do so on favourable terms or at all, which would impair our ability to operate our business or achieve our growth objectives, which may have an adverse effect on our results of operations and business.
  • arrowWe could become liable to customers, suffer adverse publicity and incur substantial costs as a result of deficiency in our services, which in turn could adversely affect the value of our brand, and our sales could be diminished if we are associated with negative publicity.
  • arrowOur Company has entered into certain related party transactions and may continue to do so in the future.
  • arrowWe may not be able to collect receivables due from our clients, in a timely manner, or at all, which may adversely affect our business, financial condition, results of operations and cash flows.
  • arrowOur operations are subject to risks of mishaps or accidents that could cause damage or loss to life and property and could also result in loss or slowdown in our business.
  • arrowWe face competition in our business from organized and unorganized players, which may adversely affect our business operation and financial condition.
  • arrowWe may not be successful in implementing our business strategies.
  • arrowThe deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of our Company.
  • arrowPortion of our Issue Proceeds are proposed to be utilized for general corporate purposes amounting to Rs.550.00 lakhs which constitute 14.29% of the total Issue Proceeds.
  • arrowOur lenders have charge over our assets in respect of finance availed by us.
  • arrowIn addition to our existing indebtedness for our operations, we may be required to obtain further loan during the course of business. There can be no assurance that we would be able to service our existing and/or additional indebtedness.
  • arrowOur Company has availed certain unsecured loan which can be recalled at any time.
  • arrowOur debt financing agreements contain certain restrictive covenants that may adversely affect our Company's business, credit ratings, prospects, results of operations and financial condition.
  • arrowWe have not made any alternate arrangements for meeting our regular working capital requirements. If we are unable to manage/arrange funds (including at short notice) to meet our working capital requirements, there may be an adverse effect on our results of operations and financial performance.
  • arrowOur Promoters have provided personal guarantees for loans availed by our Company. Our business, financial condition, results of operations, cash flows and prospects may be adversely affected by the invocation of all or any personal guarantees provided by our Promoter.
  • arrowWithin the parameters as mentioned in the chapter titled "Objects of this Issue" beginning on page 70 of this Draft Prospectus, our Company's management will have flexibility in applying the proceeds of this Issue subject to applicable laws. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • arrowOur KMPs are associated with our Company for less than one year.
  • arrowCertain key performance indicators for certain listed industry peers included in this Draft Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • arrowIndustry information included in this Draft Prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • arrowIn the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect our revenues and results of operations.
  • arrowThe Issue Price of our Equity Shares may not be indicative of the market price of our Equity Shares after the Issue.
  • arrowAfter this Issue, the price of our Equity Shares may be volatile, or an active trading market for our Equity Shares may not be sustained.
  • arrowThere is no guarantee that our Equity Shares will be listed on the SME Platform of BSE Limited in a timely manner or at all.
  • arrowThe investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Issue.
  • arrowThere are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • arrowApplicants to this Issue are not allowed to withdraw their Applications after the Issue Closing Date.
  • arrowOur Promoters and promoter group have significant controlling interest over the Company and have the ability to direct our business and affairs; their interests may conflict with your interests as a shareholder.
  • arrowYou may be subject to Indian taxes arising out of capital gains on sale of Equity Shares.
  • arrowAny future issuance of Equity Shares may dilute the investors' shareholdings or sales of our Equity Shares by our Promoters or Promoter Group may adversely affect the trading price of our Equity Shares.
  • arrowOur ability to pay dividends in the future will depend on our earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of our financing arrangements.
  • arrowThe investors may be restricted in their ability to exercise pre-emptive rights under Indian law and may be adversely affected by future dilution of their ownership position.
  • arrowRights of shareholders under Indian law may be more limited than under the laws of other jurisdictions.
  • arrowOur Equity Shares are quoted in Indian Rupees in India, and therefore investors may be subject to potential losses arising out of exchange rate risk on the Indian Rupee and risks associated with the conversion of Indian Rupee proceeds into foreign currency.
  • arrowWe may face several risks associated with the object of the issue of setting up of proposed Manufacturing Unit, which could hamper our growth prospects, cash flows and business and financial condition.
  • arrowWe have experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect our cash flow requirements, which in turn may adversely affect our ability to operate our business and implement our growth plans, thereby affecting our financial condition.
  • arrowOur Order Book may not be representative of our future results and our actual income may be significantly less than the estimates reflected in our Order Book, which could adversely affect our results of operations.
  • arrowWe cannot assure you that the proposed Manufacturing unit will become operational as scheduled, or at all, or operate as efficiently as planned. If we are unable to commission our new facility in a timely manner or without cost overruns, it may adversely affect our business, results of operations and financial condition.
  • arrowThe cost estimates for the proposed manufacturing unit at Plot No: 41, Plastic Park, Mankhal, Tumuloor Village, Maheshwaram Mandal, Ranga Reddy District, Telangana have been derived from management estimates and quotations received from third parties and may not be accurate.
  • arrowOur Company is yet to place orders for civil work and plant & machineries for the proposed manufacturing unit. Any delay in placing orders or completion of civil works or procurement of such machinery may delay the schedule of implementation and possibly increase the cost of commencing operations.
  • arrowOur Group Companies has incurred losses in the past and may incur losses in the future.
  • arrowOur business operations are majorly concentrated in certain geographical regions and any adverse developments affecting our operations in these regions could have a significant impact on our revenue and results of operations.
  • arrowImpact of Fluctuations in Profitability and Revenue Performance could negatively impact investor confidence and future growth prospects.
  • arrowWe have issued Equity Shares in the last 12 (twelve) months at a price which is lower than the Issue Price.
  • arrowThe average cost of acquisition of Equity Shares by our Promoters is lower than the Issue Price.
  • arrowWe have certain contingent liabilities, which, if materialized, may affect our financial condition and results of operations.
  • arrowDependence on Leased Premises for Business Operations.
  • arrowOur industry is labour intensive, and our business operations may be materially adversely affected by strikes, work stoppages or increased wage demands by our employees or those of our suppliers.
  • arrowWe have substantial working capital requirements. Our inability to obtain and / or maintain sufficient cash flow, credit facilities and other sources of funding in a timely manner to meet our requirements of working capital or payment of our debts, could adversely affect our operations.
  • arrowWe are dependent on Promoters, directors and key managerial personnel of our Company for success whose loss could seriously impair the ability to continue to manage and expand business efficiently.
  • arrowDisruptions or failures in our technology systems may affect our operations. Further, Changes in technology may render our current technologies obsolete or require us to make substantial capital investments.
  • arrowOur projects are exposed to various implementation and other risks, including risks of time and cost overruns, and uncertainties, which may adversely affect our business, financial condition, results of operations, and prospects.
  • arrowChallenges in Brand Establishment and Risks Associated with Not Owning any Intellectual Property Rights.
  • arrowOur insurance coverage may not be adequate to protect us against certain losses and this may have a material adverse effect on our business.
  • arrowWe cannot assure that the execution of our projects will be free from any or all defects, which may adversely affect our business, financial condition, results of operations and prospects.
  • arrowWe may need to raise additional capital in the future for working capital and we may not be able to do so on favourable terms or at all, which would impair our ability to operate our business or achieve our growth objectives, which may have an adverse effect on our results of operations and business.
  • arrowWe could become liable to customers, suffer adverse publicity and incur substantial costs as a result of deficiency in our services, which in turn could adversely affect the value of our brand, and our sales could be diminished if we are associated with negative publicity.
  • arrowOur Company has entered into certain related party transactions and may continue to do so in the future.
  • arrowWe may not be able to collect receivables due from our clients, in a timely manner, or at all, which may adversely affect our business, financial condition, results of operations and cash flows.
  • arrowOur operations are subject to risks of mishaps or accidents that could cause damage or loss to life and property and could also result in loss or slowdown in our business.
  • arrowWe face competition in our business from organized and unorganized players, which may adversely affect our business operation and financial condition.
  • arrowWe may not be successful in implementing our business strategies.
  • arrowThe deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of our Company.
  • arrowPortion of our Issue Proceeds are proposed to be utilized for general corporate purposes amounting to ? 466.00 lakhs which constitute 15.00% of the total Issue Proceeds.
  • arrowOur lenders have charge over our assets in respect of finance availed by us.
  • arrowIn addition to our existing indebtedness for our operations, we may be required to obtain further loan during the course of business. There can be no assurance that we would be able to service our existing and/or additional indebtedness.
  • arrowOur Company has availed certain unsecured loan which can be recalled at any time.
  • arrowOur debt financing agreements contain certain restrictive covenants that may adversely affect our Company's business, credit ratings, prospects, results of operations and financial condition.
  • arrowWe have not made any alternate arrangements for meeting our regular working capital requirements. If we are unable to manage/arrange funds (including at short notice) to meet our working capital requirements, there may be an adverse effect on our results of operations and financial performance.
  • arrowOur Promoters have provided personal guarantees for loans availed by our Company. Our business, financial condition, results of operations, cash flows and prospects may be adversely affected by the invocation of all or any personal guarantees provided by our Promoter.
  • arrowWithin the parameters as mentioned in the chapter titled "Objects of this Issue" beginning on page 73 of this Prospectus, our Company's management will have flexibility in applying the proceeds of this Issue subject to applicable laws. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • arrowOur KMPs are associated with our Company for less than one year.
  • arrowCertain key performance indicators for certain listed industry peers included in this Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • arrowIndustry information included in this Prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • arrowIn the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect our revenues and results of operations.
  • arrowThe Issue Price of our Equity Shares may not be indicative of the market price of our Equity Shares after the Issue.
  • arrowAfter this Issue, the price of our Equity Shares may be volatile, or an active trading market for our Equity Shares may not be sustained.
  • arrowThere is no guarantee that our Equity Shares will be listed on the SME Platform of BSE Limited in a timely manner or at all.
  • arrowThe investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Issue.
  • arrowThere are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • arrowApplicants to this Issue are not allowed to withdraw their Applications after the Issue Closing Date.
  • arrowOur Promoters and promoter group have significant controlling interest over the Company and have the ability to direct our business and affairs; their interests may conflict with your interests as a shareholder.
  • arrowYou may be subject to Indian taxes arising out of capital gains on sale of Equity Shares.
  • arrowAny future issuance of Equity Shares may dilute the investors' shareholdings or sales of our Equity Shares by our Promoters or Promoter Group may adversely affect the trading price of our Equity Shares.
  • arrowOur ability to pay dividends in the future will depend on our earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of our financing arrangements.
  • arrowThe investors may be restricted in their ability to exercise pre-emptive rights under Indian law and may be adversely affected by future dilution of their ownership position.
  • arrowRights of shareholders under Indian law may be more limited than under the laws of other jurisdictions.
  • arrowOur Equity Shares are quoted in Indian Rupees in India, and therefore investors may be subject to potential losses arising out of exchange rate risk on the Indian Rupee and risks associated with the conversion of Indian Rupee proceeds into foreign currency.

Chiraharit Ltd Peer Comparison

Understand the company’s industry standing

Chiraharit Ltd
Polysil Irrigation Systems Ltd
Face Value
1
10
Standalone / Consolidated
Consolidated
Standalone
Total Income Rs. Cr.
59.628
13.8884
EPS-Basis
1.51
-1.63
EPS-Diluted
---
---
NAV Per Share
2.39
20.03
P/E-Basic EPS
13.95
-112.15
P/E-Diluted EPS
---
---
RONW(%)
62.91
-8.15
Latest NAV Period
---
---
Latest NAV
---
---
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The IPO opens on 29 Sept 2025 & closes on 03 Oct 2025.

Chiraharit Limited was originally incorporated as a Private Company as ' Brahmani Ventures Private Limited ' on August 04, 2006. Later, the name of the Company got changed to 'Chiraharit Agro Farms Private Limited' on September 18, 2015 and further to 'Chiraharit Private Limited' pursuant to a Certificate of Incorporation issued by Registrar of Companies, Hyderabad, Telangana on May 30, 2016. Thereafter, the status of the Company was converted into Public Limited Company and the name of Company was changed to 'Chiraharit Limited' dated December 02, 2024 issued by Central Processing Centre. Chiraharit is a part of the MALAXMI Group, a diversified conglomerate. The Company received work contract for Solar Module Cleaning System during the year 2016. At present, Company is engaged into turnkey EPC (Engineering, Procurement and Construction) projects focusing on three broad segment viz Water-based, Renewable Energy-based and Civil Projects. I In Water sector, the focus is on the efficient and reliable movement of piped water in pressurized application. In addition to this, it undertake construction of Compressed Bio-Gas plants (CBG) and construction of Industrial and Residential Projects. The Renewable Energy-based segment is focused in construction of Compressed Bio-Gas (CBG) plants. In this domain, it provide turnkey execution of all civil, mechanical, and pumping systems, ensuring seamless project delivery. The Company undertakes a diverse range of civil engineering projects, ranging from the construction of industrial and commercial buildings to the development of critical infrastructure. It commissioned the 100th Solar Module Cleaning System Project in 2021. Company launched the IPO by making a fresh issue of 1,47,96,000 equity shares of Re 1/-each, and raising Rs 31.07 Crore funds in October 2025.

Chiraharit Ltd IPO will close on 03 Oct 2025.

  • Established and proven track record.
  • Leveraging the experience of our Promoters.
  • Experienced management team and a motivated and efficient work force.
  • Cordial relations with our customers.
  • Quality Assurance & Control.

S.No Promoters Name Pre Issue Shares Pre Issue Percentage Post Issue Shares Post Issue Percentage
1 Pavan Kumar Bang 7999960 20 7999960 14.6
2 Tejaswini Yarlagadda 28799990 72 28799990 52.56
3 Venkata Ramana Reddy Gaggenapa 3200000 8 3200000 5.84

  • Our Company, Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.
  • EPC projects are typically awarded to us on satisfaction of prescribed pre-qualification criteria and following a competitive bidding process. Our business and our financial condition may be adversely affected if new projects are not awarded to us or if contracts awarded to us are prematurely terminated.
  • Dependency on Indian Domestic Market for Revenue.
  • We are dependent on and derive a substantial portion of our revenue from a limited number of customers. Cancellation or orders by customers or delay or reduction in their orders could have a material adverse effect on our business, results of operations and financial condition.
  • The Company is dependent on a few suppliers for purchases of product/service. The loss of any of these large suppliers may affect our business operations.
  • In the Past, there has been an instance of non-compliance for failure to open a separate bank account for receipt of share application money in compliance with Section 42 of the Companies Act, 2013. Due to such lapse, the Company is held liable to penal actions by the regulatory authorities under the Companies.
  • There are certain instances of delays in the past with ROC/Statutory Authorities.
  • There have been some instances of delayed filing of returns and depositing of statutory dues with regulatory authorities.
  • We may face several risks associated with the object of the issue of setting up of proposed Manufacturing Unit, which could hamper our growth prospects, cash flows and business and financial condition.
  • We cannot assure you that the proposed Manufacturing unit will become operational as scheduled, or at all, or operate as efficiently as planned. If we are unable to commission our new facility in a timely manner or without cost overruns, it may adversely affect our business, results of operations and financial condition.
  • The cost estimates for the proposed manufacturing unit at Plot No: 41, Plastic Park, Mankhal, Tumuloor Village, Maheshwaram Mandal, Ranga Reddy District, Telangana have been derived from management estimates and quotations received from third parties and may not be accurate.
  • Our Company is yet to place orders for civil work and plant & machineries for the proposed manufacturing unit. Any delay in placing orders or completion of civil works or procurement of such machinery may delay the schedule of implementation and possibly increase the cost of commencing operations.
  • We have experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect our cash flow requirements, which in turn may adversely affect our ability to operate our business and implement our growth plans, thereby affecting our financial condition.
  • Our Group Companies has incurred losses in the past and may incur losses in the future.
  • We have issued Equity Shares in the last 12 (twelve) months at a price which is lower than the Issue Price.
  • The average cost of acquisition of Equity Shares by our Promoters is lower than the Issue Price.
  • We have certain contingent liabilities, which, if materialized, may affect our financial condition and results of operations.
  • Dependence on Leased Premises for Business Operations.
  • Our industry is labour intensive, and our business operations may be materially adversely affected by strikes, work stoppages or increased wage demands by our employees or those of our suppliers.
  • We have substantial working capital requirements. Our inability to obtain and / or maintain sufficient cash flow, credit facilities and other sources of funding in a timely manner to meet our requirements of working capital or payment of our debts, could adversely affect our operations.
  • We are dependent on Promoters, directors and key managerial personnel of our Company for success whose loss could seriously impair the ability to continue to manage and expand business efficiently.
  • Disruptions or failures in our technology systems may affect our operations. Further, Changes in technology may render our current technologies obsolete or require us to make substantial capital investments.
  • Our projects are exposed to various implementation and other risks, including risks of time and cost overruns, and uncertainties, which may adversely affect our business, financial condition, results of operations, and prospects.
  • Challenges in Brand Establishment and Risks Associated with Not Owning any Intellectual Property Rights.
  • Our insurance coverage may not be adequate to protect us against certain losses and this may have a material adverse effect on our business.
  • We cannot assure that the execution of our projects will be free from any or all defects, which may adversely affect our business, financial condition, results of operations and prospects.
  • We may need to raise additional capital in the future for working capital and we may not be able to do so on favourable terms or at all, which would impair our ability to operate our business or achieve our growth objectives, which may have an adverse effect on our results of operations and business.
  • We could become liable to customers, suffer adverse publicity and incur substantial costs as a result of deficiency in our services, which in turn could adversely affect the value of our brand, and our sales could be diminished if we are associated with negative publicity.
  • Our Company has entered into certain related party transactions and may continue to do so in the future.
  • We may not be able to collect receivables due from our clients, in a timely manner, or at all, which may adversely affect our business, financial condition, results of operations and cash flows.
  • Our operations are subject to risks of mishaps or accidents that could cause damage or loss to life and property and could also result in loss or slowdown in our business.
  • We face competition in our business from organized and unorganized players, which may adversely affect our business operation and financial condition.
  • We may not be successful in implementing our business strategies.
  • The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of our Company.
  • Portion of our Issue Proceeds are proposed to be utilized for general corporate purposes amounting to Rs.550.00 lakhs which constitute 14.29% of the total Issue Proceeds.
  • Our lenders have charge over our assets in respect of finance availed by us.
  • In addition to our existing indebtedness for our operations, we may be required to obtain further loan during the course of business. There can be no assurance that we would be able to service our existing and/or additional indebtedness.
  • Our Company has availed certain unsecured loan which can be recalled at any time.
  • Our debt financing agreements contain certain restrictive covenants that may adversely affect our Company's business, credit ratings, prospects, results of operations and financial condition.
  • We have not made any alternate arrangements for meeting our regular working capital requirements. If we are unable to manage/arrange funds (including at short notice) to meet our working capital requirements, there may be an adverse effect on our results of operations and financial performance.
  • Our Promoters have provided personal guarantees for loans availed by our Company. Our business, financial condition, results of operations, cash flows and prospects may be adversely affected by the invocation of all or any personal guarantees provided by our Promoter.
  • Within the parameters as mentioned in the chapter titled "Objects of this Issue" beginning on page 70 of this Draft Prospectus, our Company's management will have flexibility in applying the proceeds of this Issue subject to applicable laws. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • Our KMPs are associated with our Company for less than one year.
  • Certain key performance indicators for certain listed industry peers included in this Draft Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • Industry information included in this Draft Prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect our revenues and results of operations.
  • The Issue Price of our Equity Shares may not be indicative of the market price of our Equity Shares after the Issue.
  • After this Issue, the price of our Equity Shares may be volatile, or an active trading market for our Equity Shares may not be sustained.
  • There is no guarantee that our Equity Shares will be listed on the SME Platform of BSE Limited in a timely manner or at all.
  • The investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Issue.
  • There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • Applicants to this Issue are not allowed to withdraw their Applications after the Issue Closing Date.
  • Our Promoters and promoter group have significant controlling interest over the Company and have the ability to direct our business and affairs; their interests may conflict with your interests as a shareholder.
  • You may be subject to Indian taxes arising out of capital gains on sale of Equity Shares.
  • Any future issuance of Equity Shares may dilute the investors' shareholdings or sales of our Equity Shares by our Promoters or Promoter Group may adversely affect the trading price of our Equity Shares.
  • Our ability to pay dividends in the future will depend on our earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of our financing arrangements.
  • The investors may be restricted in their ability to exercise pre-emptive rights under Indian law and may be adversely affected by future dilution of their ownership position.
  • Rights of shareholders under Indian law may be more limited than under the laws of other jurisdictions.
  • Our Equity Shares are quoted in Indian Rupees in India, and therefore investors may be subject to potential losses arising out of exchange rate risk on the Indian Rupee and risks associated with the conversion of Indian Rupee proceeds into foreign currency.
  • We may face several risks associated with the object of the issue of setting up of proposed Manufacturing Unit, which could hamper our growth prospects, cash flows and business and financial condition.
  • We have experienced negative cash flows in the past and may continue to do so in the future and the same may adversely affect our cash flow requirements, which in turn may adversely affect our ability to operate our business and implement our growth plans, thereby affecting our financial condition.
  • Our Order Book may not be representative of our future results and our actual income may be significantly less than the estimates reflected in our Order Book, which could adversely affect our results of operations.
  • We cannot assure you that the proposed Manufacturing unit will become operational as scheduled, or at all, or operate as efficiently as planned. If we are unable to commission our new facility in a timely manner or without cost overruns, it may adversely affect our business, results of operations and financial condition.
  • The cost estimates for the proposed manufacturing unit at Plot No: 41, Plastic Park, Mankhal, Tumuloor Village, Maheshwaram Mandal, Ranga Reddy District, Telangana have been derived from management estimates and quotations received from third parties and may not be accurate.
  • Our Company is yet to place orders for civil work and plant & machineries for the proposed manufacturing unit. Any delay in placing orders or completion of civil works or procurement of such machinery may delay the schedule of implementation and possibly increase the cost of commencing operations.
  • Our Group Companies has incurred losses in the past and may incur losses in the future.
  • Our business operations are majorly concentrated in certain geographical regions and any adverse developments affecting our operations in these regions could have a significant impact on our revenue and results of operations.
  • Impact of Fluctuations in Profitability and Revenue Performance could negatively impact investor confidence and future growth prospects.
  • We have issued Equity Shares in the last 12 (twelve) months at a price which is lower than the Issue Price.
  • The average cost of acquisition of Equity Shares by our Promoters is lower than the Issue Price.
  • We have certain contingent liabilities, which, if materialized, may affect our financial condition and results of operations.
  • Dependence on Leased Premises for Business Operations.
  • Our industry is labour intensive, and our business operations may be materially adversely affected by strikes, work stoppages or increased wage demands by our employees or those of our suppliers.
  • We have substantial working capital requirements. Our inability to obtain and / or maintain sufficient cash flow, credit facilities and other sources of funding in a timely manner to meet our requirements of working capital or payment of our debts, could adversely affect our operations.
  • We are dependent on Promoters, directors and key managerial personnel of our Company for success whose loss could seriously impair the ability to continue to manage and expand business efficiently.
  • Disruptions or failures in our technology systems may affect our operations. Further, Changes in technology may render our current technologies obsolete or require us to make substantial capital investments.
  • Our projects are exposed to various implementation and other risks, including risks of time and cost overruns, and uncertainties, which may adversely affect our business, financial condition, results of operations, and prospects.
  • Challenges in Brand Establishment and Risks Associated with Not Owning any Intellectual Property Rights.
  • Our insurance coverage may not be adequate to protect us against certain losses and this may have a material adverse effect on our business.
  • We cannot assure that the execution of our projects will be free from any or all defects, which may adversely affect our business, financial condition, results of operations and prospects.
  • We may need to raise additional capital in the future for working capital and we may not be able to do so on favourable terms or at all, which would impair our ability to operate our business or achieve our growth objectives, which may have an adverse effect on our results of operations and business.
  • We could become liable to customers, suffer adverse publicity and incur substantial costs as a result of deficiency in our services, which in turn could adversely affect the value of our brand, and our sales could be diminished if we are associated with negative publicity.
  • Our Company has entered into certain related party transactions and may continue to do so in the future.
  • We may not be able to collect receivables due from our clients, in a timely manner, or at all, which may adversely affect our business, financial condition, results of operations and cash flows.
  • Our operations are subject to risks of mishaps or accidents that could cause damage or loss to life and property and could also result in loss or slowdown in our business.
  • We face competition in our business from organized and unorganized players, which may adversely affect our business operation and financial condition.
  • We may not be successful in implementing our business strategies.
  • The deployment of funds raised through this Issue shall not be subject to any Monitoring Agency and shall be purely dependent on the discretion of the management of our Company.
  • Portion of our Issue Proceeds are proposed to be utilized for general corporate purposes amounting to ? 466.00 lakhs which constitute 15.00% of the total Issue Proceeds.
  • Our lenders have charge over our assets in respect of finance availed by us.
  • In addition to our existing indebtedness for our operations, we may be required to obtain further loan during the course of business. There can be no assurance that we would be able to service our existing and/or additional indebtedness.
  • Our Company has availed certain unsecured loan which can be recalled at any time.
  • Our debt financing agreements contain certain restrictive covenants that may adversely affect our Company's business, credit ratings, prospects, results of operations and financial condition.
  • We have not made any alternate arrangements for meeting our regular working capital requirements. If we are unable to manage/arrange funds (including at short notice) to meet our working capital requirements, there may be an adverse effect on our results of operations and financial performance.
  • Our Promoters have provided personal guarantees for loans availed by our Company. Our business, financial condition, results of operations, cash flows and prospects may be adversely affected by the invocation of all or any personal guarantees provided by our Promoter.
  • Within the parameters as mentioned in the chapter titled "Objects of this Issue" beginning on page 73 of this Prospectus, our Company's management will have flexibility in applying the proceeds of this Issue subject to applicable laws. The fund requirement and deployment mentioned in the Objects of this Issue have not been appraised by any bank or financial institution.
  • Our KMPs are associated with our Company for less than one year.
  • Certain key performance indicators for certain listed industry peers included in this Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
  • Industry information included in this Prospectus has been derived from industry reports. There can be no assurance that such third-party statistical, financial and other industry information is either complete or accurate.
  • In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect our revenues and results of operations.
  • The Issue Price of our Equity Shares may not be indicative of the market price of our Equity Shares after the Issue.
  • After this Issue, the price of our Equity Shares may be volatile, or an active trading market for our Equity Shares may not be sustained.
  • There is no guarantee that our Equity Shares will be listed on the SME Platform of BSE Limited in a timely manner or at all.
  • The investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Issue.
  • There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
  • Applicants to this Issue are not allowed to withdraw their Applications after the Issue Closing Date.
  • Our Promoters and promoter group have significant controlling interest over the Company and have the ability to direct our business and affairs; their interests may conflict with your interests as a shareholder.
  • You may be subject to Indian taxes arising out of capital gains on sale of Equity Shares.
  • Any future issuance of Equity Shares may dilute the investors' shareholdings or sales of our Equity Shares by our Promoters or Promoter Group may adversely affect the trading price of our Equity Shares.
  • Our ability to pay dividends in the future will depend on our earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of our financing arrangements.
  • The investors may be restricted in their ability to exercise pre-emptive rights under Indian law and may be adversely affected by future dilution of their ownership position.
  • Rights of shareholders under Indian law may be more limited than under the laws of other jurisdictions.
  • Our Equity Shares are quoted in Indian Rupees in India, and therefore investors may be subject to potential losses arising out of exchange rate risk on the Indian Rupee and risks associated with the conversion of Indian Rupee proceeds into foreign currency.

The Issue type of Chiraharit Ltd is Fixed Price - SME.

The minimum application for shares of Chiraharit Ltd is 12000.

The total shares issue of Chiraharit Ltd is 14796000.

Initial public offer of up to 1,47,96,000 equity shares of face value of Re. 1/- each ("Equity Shares") of Chiraharit Limited (the "Company" or the "Issuer") for cash at a price of Rs. 21/- per equity share, including a share premium of Rs. 20/- per equity share (the "Issue Price"), aggregating to Rs. 31.07 crores ("the Issue"), of which 7,44,000 equity shares of face value of Re. 1/- each for cash at a price of Rs. 21/- per equity share, aggregating to Rs. 1.56 crores will be reserved for subscriptions by the market maker to the issue (the "Market Maker Reservation Portion"). The issue less market maker reservation portion i.e. issue of 1,40,52,000 equity shares of face value of Re. 1/- each for cash at a price of Rs. 21/- per equity share, aggregating to Rs. 29.51 crores is here in after referred to as the "Net Issue". The issue and the net issue will constitute 27.00 % and 25.64 % respectively of the post issue paid-up equity share capital of the company. Price Band: Rs. 21/- for equity share of face value of Rs.1 each. The floor price is 21 times times the face value of the face value of the equity shares. Bids can made for a minimum of 12,000 equity shares and in multiples of 6,000 equity shares thereafter.