Victory Electric Vehicles IPO
Victory Electric Vehicles IPO Details
-
Open Date
07 Jan 2026
-
Close Date
09 Jan 2026
-
Listing Date
14 Jan 2026
- IPO Price Range
₹ 41
- IPO Size
₹ 35 Cr
- Listing Exchange
NSE SME
Victory Electric Vehicles IPO Timeline
Victory Electric Vehicles IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 7-Jan-2026 | - | 0.09 | 0.65 | 0.37 |
Last Updated: 08 January 2026 5:33 PM by 5paisa
Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles focused on sustainable mobility. The company offers electric two-wheelers, three-wheelers, and commercial EVs, including e-rickshaws, e-cargo loaders, scooters, and customised e-three wheelers for specialised uses. It integrates lithium-ion batteries, efficient electric drivetrains, and smart connectivity features across its products. The company caters to domestic and international markets through a dealer network spanning 12 states, backed by experienced leadership and a professional team, with a focus on eco-friendly, reliable, and cost-efficient mobility solutions.
Established in: 2018
Managing Director: Sanjay Kumar Popli
Victory Electric Vehicles Objectives
1. Fund capital expenditure of ₹5 crore
2. Meet working capital needs of ₹22 crore
3. Support general corporate purposes and net proceeds
Victory Electric Vehicles IPO Size
| Types | Size |
|---|---|
| Total IPO Size | ₹35 Cr |
| Offer For Sale | - |
| Fresh Issue | ₹35 Cr |
Victory Electric Vehicles IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 6000 | 2,46,00 |
| Retail (Max) | 2 | 6000 | 2,46,00 |
| HNI (Min) | 3 | 12000 | 3,69,000 |
Victory Electric Vehicles IPO Reservation
| Investors Category | Subscription (times) | Shares Offered* | Shares bid for | Total Amount (Cr.)* |
|---|---|---|---|---|
| Non-Institutional Buyers | 0.09 | 40,02,000 | 3,48,000 | 1.43 |
| Individual Investors (IND category bidding for 2 Lots) | 0.65 | 40,05,000 | 26,04,000 | 10.68 |
| Total** | 0.37 | 80,07,000 | 29,52,000 | 12.10 |
*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.
| Particulars (in Rs. Crores) | FY22 | FY23 | FY24 |
|---|---|---|---|
| Revenue | 47.40 | 51.90 | 48.44 |
| EBITDA | 1.16 | 1.80 | 6.99 |
| PAT | 0.64 | 0.78 | 4.89 |
| Particulars (in Rs. Crores)] | FY22 | FY23 | FY24 |
|---|---|---|---|
| Total Assets | 20.81 | 19.17 | 21.94 |
| Share Capital | 1.37 | 2.04 | 2.61 |
| Total Borrowings | 15.61 | 13.67 | 11.26 |
| Particulars (in Rs. Crores | FY22 | FY23 | FY24 |
|---|---|---|---|
| Net Cash Generated From / (used in) operating activities | 2.51 | 2.52 | 2.15 |
| Net Cash Generated From / (used in) investing activities | - 0.94 | - 1.43 | - 0.90 |
| Net Cash Generated From / (used in) financing activities | - 1.44 | - 1.55 | -0.83 |
| Net Increase (Decrease) In Cash And Cash Equivalents | 0.13 | -0.45 | -0.42 |
Strengths
1. Experienced leadership with deep industry knowledge
2. Customer-focused approach with tailored solutions
3. Effective use of modern technology and systems
4. Strong and sustained customer relationships
Weaknesses
1. Dependence on consistent raw material availability
2. Exposure to unorganised sector competition
3. Limited control over input sourcing dynamics
4. Sensitivity to supply chain disruptions
Opportunities
1. Expanding market size supporting business growth
2. Process efficiency gains through technology adoption
3. Cost optimisation via operational improvements
4. Rising demand for structured and organised players
Threats
1. Intense competition from existing and new players
2. Volatility in raw material prices impacting margins
3. Rapid technological changes requiring constant upgrades
4. Market pressure from low-cost alternatives
1. Presence in fast-growing EV segment
2. Aligned with clean energy and sustainability trends
3. Diversified electric vehicle product portfolio
4. SME IPO with long-term growth opportunity
1. Growing preference for sustainable mobility solutions
2. Rising demand for electric commercial vehicles
3. Scope for capacity and product expansion
4. Strong growth potential across urban and semi-urban markets
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FAQs
Victory Electric Vehicles IPO opens from January 7, 2026 to January 9, 2026.
The size of Victory Electric Vehicles IPO is approximately ₹35 Cr.
The price band of Victory Electric Vehicles IPO is fixed at ₹41 per share.
To apply for Victory Electric Vehicles IPO, follow the steps given below:
● Login to your 5paisa demat account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Victory Electric Vehicles. IPO.
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.
You will receive a mandate notification to block funds in your UPI app.
The minimum lot size is 6000 shares, requiring an investment of approximately ₹2,46,000.
The share allotment date of Victory Electric Vehicles IPO is January 12, 2026.
The Victory Electric Vehicles IPO will likely be listed on January 14, 2026.
Corpwis Advisors Private Limited. is the book-running lead manager.
The IPO aims to fund capacity expansion, subsidiary investment, working capital needs, and general corporate purposes.
Victory Electric Vehicles Contact Details
Victory Electric Vehicles International Limited
Plot no 6, Second Floor
A-5, Maa Bhagwati Apartment
Paschim Vihar
Phone:
Email: compliance@victoryevindia.com
Website: http://www.victoryevehilceindia.com/
Victory Electric Vehicles IPO Register
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@mashitla.com
Website: https://maashitla.com/allotment-status/public-issues
Victory Electric Vehicles IPO Lead Manager
Corpwis Advisors Private Limited
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