Victory Electric Vehicles International IPO
Fixed Price IPO | ₹35.00 Cr | Listing at NSE SME
IPO Open
Wed, Jan 07, 2026
IPO Close
Fri, Jan 09, 2026
Price Band
-
Market Cap (Pre-IPO)
₹98.77 Cr
IPO Details
| IPO Date | Jan 07, 2026 to Jan 09, 2026 |
| Listing Date | Tentative: Jan 14, 2026 |
| Face Value | ₹5.00 per share |
| Price Band | - |
| Lot Size | 3000 Shares (Minimum: ₹123,000.00) |
| Sale Type | Fresh Issue |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Issue Size | ₹35.00 Crores |
| Total Shares Offered | 8,430,000 shares |
| Offer For Sale | 8,430,000 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 0.00x |
| NII | 0.91x |
| RII | 0.00x |
| Total | 1.27x |
Victory Electric Vehicles International IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 40,05,000 (47.51%) |
| NII Shares Offered | 40,02,000 (47.47%) |
Victory Electric Vehicles International IPO Lot Size
Investors can bid for a minimum of 6,000 shares and in multiples of 3,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 6,000 | ₹246,000 |
| Retail (Max) | 2 | 6,000 | ₹246,000 |
| S-HNI (Min) | 3 | 9,000 | ₹369,000 |
| S-HNI (Max) | 0 | - | ₹0 |
| B-HNI (Min) | 0 | - | ₹0 |
Victory Electric Vehicles International Financial Information (Restated Consolidated)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 33.19 | 31.29 | 21.94 | 19.17 |
| Total Income | 16.90 | 51.06 | 48.76 | 52.14 |
| Profit After Tax | 1.62 | 5.17 | 4.89 | 0.79 |
| EBITDA | 2.60 | 7.79 | 6.99 | 1.80 |
| NET Worth | 16.50 | 14.87 | 9.70 | 4.24 |
| Reserves and Surplus | 8.67 | 7.04 | 7.09 | 2.20 |
| Total Borrowing | 4.85 | 9.29 | 5.30 | 2.90 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 42.10% |
| ROCE (Return on Capital Employed) | 31.27% |
| Debt/Equity | 0.62 |
| RoNW (Return on Net Worth) | 42.11% |
| PAT Margin (Profit After Tax Margin) | 10.17% |
| EBITDA Margin | 15.32% |
| Price to Book Value | 4.32 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 3.30 | 1.35 |
| P/E (x) | 12.41 | 30.41 |
| Promoter Holding | 97.41% | 63.33% |
Company Promoters
- The promoters of the company Sanjay Kumar Popli
- Seema and Palak Poply.
Company Overview
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.
Company Strengths
- Geographical presence in 12 states with dealers in all 12 states.
- Experienced Leadership Backed by a Skilled Professional Team.
- Robust Financial Performance.
Use of Proceeds
| 1) | Capital Expenditure | 5.00 |
| 2) | Working Capital Requirement | 18.00 |
| 3) | General Corporate Purposes | 6.78 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Victory Electric Vehicles International IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Victory Electric Vehicles International Limited | 2.08 | 0.00 | 10.54 | 12.42 | 10.35 | 0.00 | - |
| Wardwizard Innovations & Mobility Limited | 0.26 | 0.00 | 4.08 | 32.58 | 6.50 | 0.00 | - |
| Tunwal E-motors Limited | 2.32 | 0.00 | 20.09 | 15.32 | 19.26 | 0.00 | - |
Quick Info
| Sector | Electric Vehicles |
| Exchange | NSE SME |
| Market Cap (Pre-IPO) | ₹98.77 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | Jan 07, 2026 |
| IPO Close | Jan 09, 2026 |
| Allotment Date | Jan 12, 2026 |
| Credit to Demat | Jan 13, 2026 |
| Listing Date | Tentative: Jan 14, 2026 |
Lead Manager(s)
Corpwis Advisors Pvt.Ltd.
Registrar
Maashitla Securities Pvt.Ltd.
+91-11-45121795-96
Description
- Victory Electric Vehicles IPO is a fixed price issue of ₹34.56 crores. The issue is entirely a fresh issue of 0.84 crore shares of ₹34.56 crore.
- Victory Electric Vehicles IPO opens for subscription on Jan 7, 2026 and closes on Jan 9, 2026. The allotment for the Victory Electric Vehicles IPO is expected to be finalized on Jan 12, 2026. Victory Electric Vehicles IPO will list on NSE SME with a tentative listing date fixed as Jan 14, 2026.
- Victory Electric Vehicles IPO price is ₹41 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹2,46,000 (6,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (9,000 shares), amounting to ₹3,69,000.