Victory Electric Vehicles International Limited IPO

Victory Electric Vehicles International Limited IPO

SME NSE SME Fixed Price
Closed

Price Band

₹41

Total Issue

₹34.56 Cr

Bid Dates

07 Jan - 09 Jan

Subscription

1.02x

Est. GMP

₹0 (0.00%)

Website RHP Check Allotment

Tentative Timetable

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

Victotry is engaged in the manufacturing of electric vehicles, including electric rickshaws, passenger rickshaws, e-loaders, cargo rickshaws and electric scooters. Its product portfolio extends beyond standard models to include customized electric three-wheelers designed for specific commercial applications such as food vending and ice cream distribution. By focusing on innovation, affordability and sustainability, the Company addresses the evolving mobility needs of both urban and semi-urban markets. It emphasizes efficient design, reliable performance and low operating costs, enabling customers to adopt eco-friendly transportation solutions. The Company’s offerings support last-mile connectivity and commercial mobility while contributing to the transition toward clean and sustainable transportation in India.

Lot Info

Lot Information for Victory EV IPO
Category Lots Shares Amount
Individual (Min) 2 6,000 ₹2,46,000
Individual (Max) 2 6,000 ₹2,46,000
Others (Min) 3 9,000 ₹3,69,000
Market Maker
4,23,000 EQ. Shares
Employee
₹0.00
Shareholder
₹0.00

Issue Size

Total ₹34.56 Cr
Fresh Issue
₹34.56 Cr (0.84 Cr Shares)
Offer For Sale
₹0.00 (0.00 Shares)

Objects of the Issue

A1

₹B1 Cr

A2

₹B2 Cr

A3

₹B3 Cr

Grey Market Premium

GMP ₹0
Est. Price ₹41
Est. Gain 0.00%

Victory EV IPO Peer Comparison

(Rs. in crores)

Victory EV IPO Peer Comparison Table
Particulars Victory EV Wardwizard Tunwal E-Motors
Revenue 50.86 302.41 104.60
PAT 5.17 6.79 11.86
EPS (₹) 2.08 0.26 2.32
NAV (₹) 10.54 4.08 20.09
RONW 10.35% 6.50% 19.26%
EBITDA 15.32% 12.36% 17.94%
PAT Mrgn 10.17% 2.25% 11.34%
PE Ratio 12.42 32.58 15.32
Debt to Equity 0.62 1.87 0.29

All information pertains to FY 2024-25. The PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of 19th December, 2025 for Peers

Financial Performance

(Rs. in crores)

Financial Performance Metrics for Victory EV IPO
Particulars Sep-25 Mar-25 Mar-24 Mar-23
Revenue 16.81 50.86 48.44 51.91
PAT 1.62 5.17 4.89 0.79
Net Worth 16.50 14.87 9.70 4.24
Borrowings 7.59 9.29 5.30 6.21
Assets 33.19 31.29 21.94 19.17
NAV (₹) 10.54 9.50 6.26 5.16
EPS (₹) 1.04 3.30 18.95 5.76

KPIs

EBITDA

15.32%

PAT

10.17%

ROE

42.10%

ROCE

31.27%

Debt to Equity

0.62

PE Ratio

12.42

PB Ratio

4.32

Mkt Cap (in Crs.)

98.77

  • All the data pertains to FY 2024-25.
  • PE, PB, and Post-Issue Market Capitalization are calculated based on the upper price band.

Shareholding

Promoter

97.41%

Public

2.59%

Seema 55.81%
Sanja Popli 41.25%
Others 0.35%

Management

Praveen Sharma Chairman
Sanjay Popli MD & CFO

Registrar & Lead Managers

Registrar

Maashitla Securities

Maashitla Securities

Lead Managers (1)

Corpwis Advisors Corpwis Advisors

Subscription Status

Updated as on 09-Jan-2026 19:00:54 hrs

Category Sub (x) Offered Bids
Individual Investor 1.01x 40,05,000 40,44,000
Others 0.92x 40,02,000 36,69,000
Total 0.96x 80,07,000 77,13,000

Frequently Asked Questions

What is Victory EV IPO?
Victory EV IPO is a SME IPO having an issue size of ₹34.56 Crs. Victory EV IPO is priced at ₹41 - ₹41 per share. The issue opens on 07 Jan 26 and closes on 09 Jan 26.
When will Victory EV IPO open?
Victory EV IPO opens on 07 Jan 26 and closes on 09 Jan 26.
What is the GMP of Victory EV IPO?
The estimated Grey Market Premium of Victory EV IPO is ₹0 per share (0.00%).
What is the lot size of Victory EV IPO?
The minimum lot size of Victory EV IPO is 3000 shares & the minimum application amount is Rs. 123000.
When is the allotment of Victory EV IPO?
The allotment date of Victory EV IPO is 12 Jan 26.
What is the listing date of Victory EV IPO?
The listing date of Victory EV IPO is 14 Jan 26.
What is the subscription of Victory EV IPO?
Victory EV IPO is subscribed 1.02 times.
What is the price band of Victory EV IPO?
Victory EV IPO is priced at ₹41 - ₹41 per share.
How to check allotment status of Victory EV IPO?
Click the allotment link on Victory EV IPO page of IPO360.
How to apply Victory EV IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Victory EV IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Victory EV IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Victory EV IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date