Victory Electric Vehicles IPO

Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles. The company provides sustainable and eco-friendly mobility solutions by offering a wide range of electric two-wheelers, three-wheelers, and commercial vehicles. Victory Electric Vehicles International Limited aims to contribute to the global shift towards green energy by promoting the adoption of electric transportation. The company offers products ranging from E-rickshaws, E-Cargo/Loader E-rickshaws, Scooters, etc. The portfolio extends beyond conventional offerings to include customized E-Three Wheelers, catering to specific needs such as Food Three Wheelers and Ice Cream Three Wheelers etc. The company integrates advanced technologies into its vehicles, such as lithium-ion battery systems, efficient electric drivetrains, and smart connectivity features. It caters to both domestic and international markets, striving to offer reliable performance, cost-effective ownership, and minimal environmental impact. Victory Electric Vehicles International Limited envisions a cleaner and greener future, aligning its mission with global efforts to reduce carbon emissions and dependence on fossil fuels. As of June 30, 2024, the company had 110 permanent employees. Competitive Strength: Experienced management with industry expertise. Customer goal customised strategies. Optimum use of technological infrastructure. Strong customer relationship.

The Company Victory Electric Vehicles IPO proposes to utilise the Net Proceeds from the Issue towards the following objects: S.No. Objects of the Issue Expected Amount (in Millions) 1 Capital Expenditure 50.00 2 Working Capital Requirement 220.00 3 General Corporate Purposes 75.43

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