GB Logistics Commerce Limited - IPO

1. Strong partnerships, alliances and affiliations with nodal agencies in the areas of agriculture and skill development.

2. Robust systems and processes across all functions of the company.

3. Strong technology backbone supported by a dedicated team of experienced professionals.

4. Favourable macro environment.

1. The average price/earnings ("P/E") ratio of the listed industry peer set was 78.73x while our P/E ratio will be at premium of [*] times at the higher price band and [*] times at the lower price band. The trading price of our Equity Shares may fluctuate based on a comparison of the P/E ratio of the listed industry peer set and our Company.

2. There are certain recovery proceedings that are initiated against the Promoter of the Company.

3. The company has recently acquired its Material Subsidiary from its Promoter.

4. The company does not own its registered office and the locations from which the company operates.

5. There are certain pending legal proceedings involving the Company as well as the Promoter and Directors of the Company. Any adverse outcome on such proceedings may affect its business, financial condition and reputation.

6. The company has not complied with certain statutory provisions of the Companies Act. Such non-compliance may attract penalties and other actions against the Company and its Directors which could impact the financial position of it to that extent.

7. Its Material Subsidiary has not complied with certain statutory provisions of the Companies Act. Such non-compliance may attract penalties and other actions against the Company and its Directors which could impact the financial position of it to that extent.

8. Its business is dependent on the road network and the company ability to utilize its vehicles in an uninterrupted manner. Any disruptions or delays in this regard could adversely affect it and lead to a loss of reputation and/ or profitability.

9. The company is significantly dependent on its freight brokers for procuring business and may not be able to exercise complete control over the services offered by them.

10. We have experienced negative cash flows from operating and investing activities in the past.