Liqvd Digital India Ltd IPO

Full Service digital marketing solutions from performance media buying to creative content creation, influencer marketing, Search Engine Optimization & Performance Marketing.

Experienced promoters and management team with strong domain expertise, supported by a well-trained and skilled workforce.

A diversified and loyal client portfolio, spanning multiple industries and verticals.

In-house technology and optimized operational workflows to deliver scalable, data-driven campaigns with precision and speed.

We continue to derive a material portion of our revenues from our Corporate Promoter - Concept CommunicationLimited. We derived 12.62% of our revenue (on a consolidated basis) from Concept Communication in Fiscal2026, and 44.12% and 14.48% of our revenue (on a standalone basis) in Fiscal 2025 and Fiscal 2024, respectively.If Concept Communication were to suffer a deterioration of their business, cease doing business with us orsubstantially reduce their dealings with us, our revenues could decline, which may have a material adverse effecton our business, results of operations, cash flows and financial condition.

We continue to derive a material portion of our revenues from our top 10 clients by revenue generated in each ofthe Fiscals 2026, 2025 and 2024 (Top 10 Clients). We derived 52.12%, 85.95%, & 73.46% of our revenue fromour Top 10 clients in Fiscal 2026, 2025 & 2024 respectively. If any or all of our Top 10 Clients were to suffer adeterioration of their business, cease doing business with us or substantially reduce their dealings with us, ourrevenues could decline, which may have a material adverse effect on our business, results of operations, cashflows and financial condition.

Our Registered Office is situated in Maharashtra and we derive a significant portion of our revenue from stateof Maharashtra, making us vulnerable to geographical concentration risk. Any adverse developments affectingour operations in Maharashtra could have an adverse impact on our revenue and results of operations. Wederived 29.58%, 80.82%, & 70.80% of our revenue from the state of Maharashtra in Fiscal 2026, 2025 & 2024respectively.

We have had negative cash flows from operating activities and investing activities in the past and may, in thefuture, experience similar negative cash flows.

There are certain instances of delays in and non-payment of statutory dues by us. Any further delay in and nonpaymentof statutory dues may attract financial penalties from the respective government authorities and in turnmay have an adverse impact on our financial condition and cash flows.

Our revenues are highly dependent on certain key industries which include IT & Communication, FMCG &Financial Services. Over the last 3 years we derived 66.85%, 83.80%, & 75.82% for Fiscal 2026, 2025 & 2024respectively from companies in these industries. Any decrease in demand for marketing services in these industryverticals could reduce our revenues and adversely affect our business, financial condition and results ofoperations.

Our Company proposes to use a portion of the Net Proceeds from the Fresh Issue to acquire the remainingshareholding of AdLift Marketing. We may face difficulties in completing the acquisition of additional stakewithin the terms mentioned in share purchase agreement, affecting our future plans and prospects.

Our operations are dependent on a limited number of key suppliers. Contribution of our top 10 suppliers was62.88% (on a consolidated basis), 74.47%, & 80.02% (on a standalone basis) in Fiscal 2026, 2025 & 2024respectively. Any disruption or change in terms with these suppliers could impact our ability to deliver services,affecting our business, financial condition, and results of operations.

Any changes in trend, decrease in digital advertisement-spend by our clients could have a material adverse effecton our business, revenue growth and results of operations and financial condition.

Companies may move their advertising projects, market research and data analysis functions inhouse and set updedicated departments to service their marketing needs, thus reducing our prospective customer base. This mayadversely affect our revenues and growth prospects.