Vaibhav Vyapaar Ltd IPO

Ground-Level Market Understanding and Customer Insights.

Digital Lending Platform with In-House Technology

Experienced Leadership and Management Team

Underwriting Framework and Risk Management Systems

The companys business is exposed to interest rate volatility, which may adversely affect its lending and treasury operations, NetInterest Income, Net Interest Margin and results of operations.

The companys success depends on retaining and expanding its customer base. If the company is unable to attract new customers or areunable to retain and grow its relationships with the companys existing customers, its business, financial condition, cash flows,results of operations and prospects would be materially and adversely affected.

A significant portion of the companys Assets Under Management (AUM) is concentrated in certain states and regions ofIndia. Any adverse economic, regulatory, political, climatic, social or business developments in such states or regionscould have a material adverse effect on its business, financial condition, results of operations and cash flows.

The companys lending operations primarily involve unsecured loans to borrowers with a relatively higher risk profile, andany increase in defaults or the companys inability to recover outstanding dues may have a material adverse effect on itsbusiness, financial condition, cash flows and results of operations.

The companys business operations are highly dependent on the continuous availability, reliability, scalability and security ofits mobile application and underlying information technology infrastructure. Any disruption, failures or securitybreach affecting the companys technology systems could adversely affect its business, financial condition, results ofoperations, cash flows and prospects.

The companys digital lending operations are significantly dependent on third-party software vendors and service providers forcritical functions such as customer onboarding, identity and document verification, credit bureau checks, accountaggregation, payments, disbursals, communications and collections. Any disruption, failures, security breach,regulatory non-compliance or unavailability of such services could adversely affect the company operations, delay loan processing and materially impact its business and financial performance.

The companys customer onboarding and end-to-end lending operations are substantially dependent on the recognition andcontinued uses of the LoanFront trademark. Any loss, infringement, dilution, adverse publicity or inability toprotect or uses the LoanFront brand could impair customer trust, disrupt the company operations and materially andadversely affect its business and financial performance.

The restated financial statements have been provided by peer reviewed chartered accountants who is not statutoryauditor of the company.

The company has witnessed negative operating cash flows in the past.

The companys inability to maintain its capital adequacy ratio could adversely affect the companys business, financial condition, cashflows, results of operations and prospects.