Onyx Biotec Limited - IPO

1. Its manufacturing units are concentrated in Solan, Himachal Pradesh, and the company is exposed to risks originating from economic, regulatory, political and other changes in this region, including natural disasters, which could adversely affect its business, results of operations and financial condition.

2. Any slowdown or shutdown in its manufacturing operations could have an adverse effect on its business, results of operations, financial condition and cash flows.

3. Any manufacturing or quality control concerns or its inability to deliver products on a timely basis, or at all, could result in the cancellation of purchase orders, breaches of relevant agreements, and termination of agreements by its clients and distributors, which could have an adverse effect on its business, results of operations, financial condition and cash flows.

4. Its manufacturing units are subject to periodic inspections and audits by regulatory authorities and clients. The company may be subject to regulatory action which may damage its reputation leading to an adverse effect on its business, results of operations, financial condition and cash flows.

5. The company relies on domestic and international third-party suppliers for the supply of raw materials and any delay, interruption or reduction in such supply could adversely affect its business, results of operations, financial condition and cash flows.

6. Its business is dependent on sale of products to a limited number of clients for a significant portion of its revenues. The loss of one or more such clients or the deterioration of their financial condition or prospects could adversely affect its business, results of operations and financial condition.

7. The Company is reliant on the demand from the pharmaceutical industry. Any downturn in the pharmaceutical industry or an inability to increase or effectively manage its sales could have an adverse impact on the Company's business and results of operations.

8. The commercial success of its products depends to a large extent on the success of the products of its customers. If the demand for the products of the company's customers declines, it could have a material adverse effect on its business, financial condition and results of operations.

9. Its may faces several risks associated with the proposed expansion of the company's manufacturing facilities, which could hamper its growth, prospects, cash flows and business and financial condition.

10. Its cannot assure you that the proposed expansion of the company's manufacturing units will become operational as scheduled, or at all, or operates as efficiently as planned. If the company is unable to commission its new facilities in a timely manner or without cost overruns, it may adversely affect its business, results of operations and financial condition.