Voler Car Limited has submitted a regulatory intimation to the National Stock Exchange of India Limited (SME Emerge) under Regulation 32(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, confirming that there has been no deviation or variation in the utilisation of proceeds from its Public Issue (IPO) for the quarter and year ended 31st March, 2026. The disclosure, dated 8th May, 2026, was signed by Vikas Parasrampuria, Whole-Time Director of the company.

IPO Overview and Fund Raising Details

Voler Car Limited raised funds through a Public Issue, with allotment completed on 18th February, 2025, and the equity shares listed on the NSE Emerge platform on 19th February, 2025. The company issued 30,00,000 equity shares of ₹ 10 each at a premium of ₹ 80 per share, resulting in a total issue price of Rs 90 per share. The key details of the issue are summarised below:

Statement of Fund Utilisation

As per the statement of utilisation of funds certified by statutory auditors Goyal Goyal & Co. (Firm's Registration No. 015069C), the IPO proceeds have been deployed across three objects as stated in the Prospectus dated 17th February, 2025. All funds utilised have been directed strictly towards the objects outlined in the prospectus, with no deviation reported. The detailed utilisation as of 31st March, 2026 is as follows:

The unutilised amount of Rs 2,164.44 lakhs is noted to be invested in fixed deposits (FDs).

Auditor's Certificate and Compliance

The statement of utilisation has been certified by CA Hemant Goyal, Partner at Goyal Goyal & Co., Chartered Accountants (M. No. 405884, UDIN: 26405884ZQHWHD1953), based in Kolkata, dated 8th May, 2026. The auditors confirmed that the statement is in agreement with the books of account and records of the company and fairly presents, in all material respects, the manner of utilisation of funds. The certificate was issued in accordance with the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) issued by the Institute of Chartered Accountants of India, and pursuant to LODR requirements and NSE circular reference number NSE/CML/2024/23.

The Audit Committee offered no comments on the statement, and no shareholder approval was required as there was no deviation or variation in the use of funds. The statement was also signed by Ankit Toshniwal, CFO of Voler Car Limited, from Kolkata on 8th May, 2026.

Voler Car , a new entrant in the automotive sector, is set to make its stock market debut today, February 19, on the National Stock Exchange's (NSE) Small and Medium Enterprise (SME) platform. The initial public offering (IPO) has generated moderate interest among investors, as reflected in the grey market premium.

IPO Details and Subscription

The Voler Car IPO was priced in the range of ₹85-90 per share, aiming to attract a diverse set of investors. The public issue garnered significant attention during its subscription period, achieving an impressive oversubscription rate of 13.73 times. This robust response indicates strong initial interest from both retail and institutional investors in the company's growth prospects.

Grey Market Premium Indicates Modest Gains

As the listing day approaches, the grey market premium for Voler Car shares suggests a positive sentiment among informal traders. The current grey market premium indicates a potential 5% increase over the IPO price, hinting at a modest but encouraging start for the stock when it begins trading on the NSE SME platform.

Investor Expectations

The 5% grey market premium suggests that investors are cautiously optimistic about Voler Car's market debut. While this premium indicates a potential for gains, it also reflects measured enthusiasm, possibly due to current market conditions or the company's positioning in the competitive automotive sector.

SME Platform Listing

Voler Car's decision to list on the NSE SME platform is strategic. This platform is designed to provide smaller companies with access to capital markets, offering them an opportunity to raise funds and gain visibility among investors. For Voler Car, this listing could be a crucial step in its growth journey, potentially paving the way for expansion and increased market presence.

Conclusion

As Voler Car prepares for its stock market debut, investors and market participants will closely watch its performance during the initial trading sessions. The moderate grey market premium suggests a balanced mix of optimism and caution. The coming days will reveal whether the stock can meet or exceed the expectations set by the grey market and how it performs relative to its IPO price.