Victory Electric Vehicles IPO: The initial public offering (IPO) of Victory Electric Vehicles has opened for subscription today, January 7, aiming to raise ₹34.56 crore through the maiden share sale.
As of 01:15 PM, the issue had received bids for 10.4 lakh shares against 80.07 lakh shares on offer, resulting in a subscription rate of 0.13 times. Segment-wise, the retail portion was subscribed only 0.24 times, while the non-institutional investor category was booked just 0.02 times.
The company proposes to utilise the net proceeds from the IPO to meet working capital requirements and for general corporate purposes.
Victory Electric Vehicles issue details
1. Victory Electric Vehicles IPO date: The issue opened for subscription today, January 7, and will remain open until Friday, January 9.
2. Victory Electric Vehicles IPO price: The price band of the IPO has been fixed at ₹41 per equity share.
3. Victory Electric Vehicles IPO size: The company aims to raise ₹34.56 crore through the IPO, which is a fresh issue of 0.84 crore shares.
4. Victory Electric Vehicles IPO lot size: The IPO lot size is fixed at 6,000 shares, requiring a minimum investment of ₹2.46 lakh for retail investors.
5. Victory Electric Vehicles IPO reservation: The IPO has reserved 40 lakh shares each for non-institutional buyers and retail investors.
6. Victory Electric Vehicles IPO allotment date: The IPO allotment date is set for Monday, January 12. Investors who receive an allotment will see the shares in their demat accounts by Tuesday, January 13, while those who do not will have their refunds processed on the same day.
7. Victory Electric Vehicles IPO listing: The SME IPO is proposed to list on NSE SME on Wednesday, January 14.
8. Victory Electric Vehicles IPO GMP: According to market sources, the GMP of the Victory Electric Vehicles IPO on Wednesday was nil, indicating that the stock might list at the issue price.
9. Victory Electric Vehicles IPO book-running lead manager and registrar: Corpwis Advisors Pvt. Ltd. is the book-running lead manager, while Maashitla Securities Pvt. Ltd. is the registrar to the issue. The market maker for the company is Alacrity Securities Ltd.
10. Victory Electric Vehicles overview: The company designs, manufactures, and distributes electric vehicles, providing sustainable and eco-friendly mobility solutions by offering a wide range of electric two-wheelers, three-wheelers, and commercial vehicles.
Its portfolio extends beyond conventional offerings to include customised E-three-wheelers, catering to specific needs such as food three-wheelers and ice cream three-wheelers, among others, according to the company’s DRHP report.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
