Victory Electric Vehicles IPO Day 1: Check live subscription status, price band, lot size, key dates and more

Victory Electric Vehicles IPO: The initial public offering of electric vehicle (EV) manufacturer Victory Electric Vehicles International hit the primary market on Wednesday, January 7. The issue will conclude on January 9.

The ₹34.56 crore initial share sale, which is fixed priced at ₹41 per share, is exclusively a fresh issuance of 84,30,000 shares. There is no offer for sale (OFS) component.

Funds generated to the tune of ₹5 crore will be allocated for capital expenditure requirements, ₹18 crore for working capital needs and ₹6.77 crore for general corporate purposes.

"Our company believes that listing will enhance our company’s corporate image, brand name and create a public market for its equity shares in India besides unlocking the value of our company. Having a listing on a stock exchange also affords our company increased credibility with the public, having the company indirectly endorsed through having their stock traded on the exchange," the company said in its prospectus.

Victory Electric Vehicles IPO Day 1: Subscription status

The issue has been subscribed 24%, with bids for 20,43,000 shares as against 84,30,000 shares on offer, as per the NSE data until 3:42 pm.

Victory Electric Vehicles IPO: Lot size

A lot consists of 3,000 shares. The minimum investment for an individual investor is 6,000 shares and in multiples thereafter.

Victory Electric Vehicles IPO: Allotment and listing date

Victory Electric Vehicles International is engaged in the manufacturing of electric vehicles such as e-rickshaws, e-cargo/loader e-rickshaws and scooters, among others. Apart from conventional offerings, it provides customised e-three-wheelers, serving specific needs like food three-wheelers and ice cream three-wheelers.

Victory Electric Vehicles IPO GMP

According to media reports and investorgain.com, Victory Electric Vehicles' unlisted shares are trading at ₹41, reflecting a grey market premium of 0% against the issue price of ₹41.