Initialpublic issue of up to 56,47,000 equity shares of face value of Rs. 5/- each ( the"Equity Shares") of Victory Electric Vehicles International Limited("the Company" or the "Issuer") for cash at a price of Rs.72/- per equity share (Including a Premium of Rs. 67/- per equity share)("Issue Price") Aggregating up to Rs. 40.66 crores ("the Issue'),out of which 2,83,800 equity shares of face value of  Rs. 5/- each for a cash price of Rs. 72/- perequity share, aggregating to  Rs. 2.04 croreswill be reserved for subscription by market maker ("Market Maker Reservation Portion").The issue less the market maker reservation portion i.e. Issue of 53,63,200equity shares of face value of Rs. 5/- each at an issue price of Rs. 72/- perequity share aggregating of Rs.38.62 crores (is hereinafter referred to as the"net issue"). the issue and the net issue will constitute 26.50 % and 25.17 %respectively of the post issue paid up equity share capital of the company.

This issue isbeing made through fixed price process, in terms of chapter IX of the Securitiesand Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations,2018, as amended and Rule 19(2(b)(i) of the securities contracts (Regulation)Rules, 1957, as amended, this is an issue for at least 25.00% of the post-issuepaid-up equity share capital of the company.

The facevalue of the equity share is Rs. 5/-  the issue price is 14.40 times ofthe face value of the equity shares.