| <p class="MsoNormal"><font face="arial, sans-serif">Initial public 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/- per equity share, aggregating to Rs. 2.04 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion").The issue less the market maker reservation portion i.e. Issue of 53,63,200 equity shares of face value of Rs. 5/- each at an issue price of Rs. 72/- per equity 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.</font></p>
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<p class="MsoNormal"><font face="arial, sans-serif">This issue is being 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-issue paid-up equity share capital of the company.</font></p>
<p class="MsoNormal"><span style="font-family: arial, sans-serif; font-size: 10pt;">The face value of the equity share is Rs. 5/- the issue price is 14.40 times of the face value of the equity shares.</span></p>
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