APR Constructions Limited - Saffron Capital

Bid/Issue closing date. Thereafter, upon receipt of final approval from the NSE and the BSE, trading in the Equity
Shares is expected to commence within twelve working days of the date of Bid/Issue closing date. There is no
assurance you that the Equity Shares will be credited to investors‟ demat accounts, or that trading in the Equity Shares
will commence, within the time periods specified above. Any delay in obtaining the approvals would restrict your
ability to dispose of your Equity Shares.
43. Conditions in the Indian securities market may affect the price or liquidity of the Equity Shares.
The Indian securities markets are smaller than securities markets in more developed economies. Indian Stock
Exchanges have in the past experienced substantial fluctuations in the prices of listed securities. Indian stock
exchanges have also experienced problems that have affected the market price and liquidity of the securities of Indian
companies. These problems include temporary exchange closures, broker defaults, settlement delays and strikes by
brokers. In addition, the governing bodies of the Indian stock exchanges have from time to time restricted securities
from trading, limited price movements and restricted margin requirements. Similar problems could occur in the future
and, if they do, they could have an adverse impact on the market price and liquidity of the Equity Shares.
44. If our Company fails to comply with environmental laws and regulations or face environmental litigation, our
results of operation may be adversely affected.
Environmental laws and regulations in India have become increasingly stringent and it is possible that they will
become significantly more stringent in the future. If, as a result of non-compliance with any environmental
regulations, any of our units or the operations of such units are suspended, we may need to incur costs in complying
with regulations, appealing any decision, closing our facilities, maintaining production at our existing facilities and
continuing to pay labour and other costs which continue to accrue even if the facility is closed. As a result, our overall
operating expenses will increase and our profits will decrease.
45. Our Company is subject to risk arising from changes in interest rates and banking policy.
We are dependent on various banks for arranging our working capital requirements, term loans, etc. Accordingly, any
change in the existing banking policy or increase in interest rates may have an adverse impact on our Company‟s
profitability.
46. Increasing employee compensation in India may erode some of our competitive advantage and may reduce
our profit margins.
Wage costs in India have historically been significantly lower than the wage costs in the developed countries for
comparably skilled professionals in the industry, which has been one of our competitive strengths. However, wage
increases in India may prevent us from sustaining this competitive advantage and may negatively affect our profit
margins. This could impact our performance, profit margins and may have a material adverse effect on our business.
47. Global economic, political and social conditions may harm our ability to do business, increase our costs and
negatively affect our stock price.
External factors such as potential terrorist attacks, acts of war or geopolitical and social turmoil in many parts of the
world could constrain our ability to do business, may increase our costs and negatively affect our stock price. These
geopolitical social and economic conditions could result in increased volatility in the Indian and worldwide financial
markets and economy, and such volatility could constrain our ability to do business, may increase our costs and
negatively affect our stock price.
48. The price of our Equity Shares may be highly volatile, or an active trading market for our Equity Shares may
not develop.
The price of our Equity Shares on the Indian Stock Exchange may fluctuate as a result of several factors including:
• Volatility in Indian and global securities market;
• Our results of operations and performance;
• Performance of our competitors;
• Adverse media reports, if any, relating to our Company;
• Changes in the estimates of our performance or recommendations by financial analysts;
• Significant development in India‟s economic liberalization and de-regulation policies; and
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