FORWARD-LOOKING STATEMENTS

This Prospectus contains certain “forward-looking statements”. All statements regarding our expected financial
condition and results of operations, business, plans and prospects are forward looking statements, which include
statements with respect to our business strategy, our revenue and profitability, our goals and other matters
discussed in this Prospectus regarding matters that are not historical facts. These forward-looking statements
generally can be identified by words or phrases such as “aim”, “anticipate”, “believe”, “goal”, “expect”,
“estimate”, “intend”, “objective”, “plan”, “project”, “should” “will”, “will continue”, “seek to”, “will pursue” or
other words or phrases of similar import. Similarly, statements that describe our strategies, objectives, plans or
goals are also forward-looking statements. All forward-looking statements are subject to risks, uncertainties and
assumptions about us that could cause actual results to differ materially from those contemplated by the relevant
forward-looking statement.

Actual results may differ materially from those suggested by the forward-looking statements due to risks or
uncertainties associated with the expectations with respect to, but not limited to, regulatory changes pertaining to
the industry in which our Company has businesses and our ability to respond to them, our ability to successfully
implement our strategy, our growth and expansion, technological changes, our exposure to market risks, general
economic and political conditions in India and globally which have an impact on our business activities or
investments, the monetary and fiscal policies of India, inflation, deflation, unanticipated turbulence in interest
rates, foreign exchange rates, equity prices or other rates or prices, the performance of the financial markets in
India and globally, changes in laws, regulations and taxes and changes in competition in our industry. Important
factors that could cause actual results to differ materially from our expectations include, but are not limited to, the
following:

extent to which the Coronavirus disease affects our business and operations in the future;

all of our products are sold under a single brand, ‘Go Colors’;

we incurred losses in Fiscal 2021;

current locations of our EBOs may become unattractive, and suitable new locations may not be available
for a reasonable price, if at all;

operations from a single warehouse located in Southern India;

deployment of Net Proceeds are not appraised by any independent agency;

we may be unable to adequately protect our trademarks; and

inability to effectively manage or expand our retail network.

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For a further discussion of factors that could cause our actual results to differ from our expectations, see ‘Risk
Factors’, ‘Our Business’ and ‘Management's Discussion and Analysis of Financial Condition and Results of
Operations’ on pages 22, 159 and 304, respectively. By their nature, certain market risk disclosures are only
estimates and could be materially different from what actually occurs in the future. As a result, actual gains or
losses could materially differ from those that have been estimated.

Forward-looking statements reflect our views as of the date of this Prospectus and are not a guarantee of future
performance. These statements are based on our management’s beliefs and assumptions, which in turn are based
on the currently available information. Although we believe the assumptions upon which these forward-looking
statements are based are reasonable, any of these assumptions could prove to be inaccurate, and the forward-
looking statements based on these assumptions could be incorrect. None of our Company, Directors, the Selling
Shareholders, and the BRLMs or their respective affiliates have any obligation to update or otherwise revise any
statements reflecting circumstances arising after the date hereof or to reflect the occurrence of underlying events,
even if the underlying assumptions do not come to fruition. There can be no assurance to Bidders that the
expectations reflected in these forward-looking statements will prove to be correct. Given these uncertainties,
Bidders are cautioned not to place undue reliance on such forward-looking statements and not to regard such
statements to be a guarantee of our future performance.

In accordance with regulatory requirements, our Company will ensure that investors in India are informed of
material developments from the date of filing of this Prospectus until the date of Allotment. Each Selling
Shareholder will ensure that investors are informed of material developments in relation to the statements and
undertakings specifically undertaken or confirmed by it in this Prospectus until the date of Allotment. Only
statements and undertakings which are specifically confirmed or undertaken by each Selling Shareholder, as the
case may be, in this Prospectus shall be deemed to be statements and undertakings made by such Selling
Shareholder.

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