Victory EV IPO Debuts at 16% Discount, Hits Lower Circuit on Listing Day

• Victory Electric Vehicles (Victory EV) IPO debuted on NSE SME at ₹34.45, a 15.98% discount from its issue price of ₹41.
• The IPO was undersubscribed, with an overall subscription of only 0.95 times; retail and NII portions also fell short.
• Shares hit the lower circuit at ₹32.75, resulting in a 20.12% loss for IPO investors by day's end.
• The ₹35 crore IPO funds are allocated for capital expenditure (₹5 crore), working capital (₹18 crore), and general corporate purposes.
• Victory EV, established in 2018, manufactures electric two-wheelers, three-wheelers, and commercial vehicles for domestic and international markets.

Why It Matters: Victory EV IPO faced a poor listing, debuting at a discount and hitting the lower circuit, causing significant losses for investors.