I also couldn’t find any clientele list for this. However, I did find some risks (from the time of IPO filing):
- Company and its Promoters, has in past defaulted in payment of income tax and has certain outstanding income tax demands. Lot of Income Tax Defaults in the past does not augur well for the company.
- They are raising ~16 Cr from IPO to fund a manufacturing unit. Total cost of Project is ~40 Cr. Out of this ~31 Cr will be for purchasing machinery, and out of that ~20 Cr of Machinery will be purchased from their Related Party. This is risk in the business because we do not know whether the deal is happening at Arm Length price basis or not.
- The high valuation demands close scrutiny, especially in terms of the company’s ability to meet growth expectations. Also, investors should consider the ownership structure, as RNG Finlease Private Limited holds a majority share of 71.58%.
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