Victory Electric Vehicles IPO Details
| IPO Open Date: | January 7, 2026 |
| IPO Close Date: | January 9, 2026 |
| Face Value: | ₹5 Per Equity Share |
| IPO Price Band: | ₹41 Per Share |
| Issue Size: | Approx ₹35 Crores |
| Fresh Issue: | Approx ₹35 Crores |
| Issue Type: | Fixed Price Issue |
| IPO Listing: | NSE SME |
| DRHP Draft Prospectus: |  |
| RHP Draft Prospectus: | |
Victory Electric Vehicles IPO Review & Key Points
- Review: Neutral
- Rating: 2
Victory Electric Vehicles IPO Market Lot
The Victory Electric Vehicles IPO minimum market lot is 6,000 shares with ₹2,46,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 2 | 6,000 | ₹2,46,000 |
| Retail Maximum | 2 | 6,000 | ₹2,46,000 |
| S-HNI Minimum | 3 | 9,000 | ₹3,69,000 |
| S-HNI Maximum | – | – | ₹- |
| B-HNI Minimum | – | – | ₹- |
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | – Shares | -% |
| NII Shares Offered | 40,02,000 Shares | 47.47% |
| Retail Shares Offered | 40,05,000 Shares | 47.51% |
Victory Electric Vehicles IPO Dates
The Victory Electric Vehicles IPO date is January 7 and the close date is January 9. The Victory Electric Vehicles IPO allotment will be finalized on January 12 and the IPO listing on January 14.
| IPO Open Date: | January 7, 2026 |
| IPO Close Date: | January 9, 2026 |
| Basis of Allotment: | January 12, 2026 |
| Refunds: | January 13, 2026 |
| Credit to Demat Account: | January 13, 2026 |
| IPO Listing Date: | January 14, 2026 |
| IPO Bidding Cut-off Time: | January 9, 2026- 5 PM |
Promoters of Victory Electric Vehicles IPO
The promoters of the company are Sanjay Kumar Popli, Seema and Palak Poply.
| Particular | Shares | % Share |
| Promoter Holding Pre Issue | 1,56,60,000 | 97.41% |
| Promoter Holding Post Issue | 2,40,90,000 | 63.33% |
Objects of the Issue & Utilisation of proceeds
| Purpose | Crores |
| Capital Expenditure | ₹5.00 |
| Working Capital Requirement | ₹18.00 |
| General Corporate Purposes | ₹6.78 |
About Victory Electric Vehicles IPO
Victory Electric Vehicles International Limited is involved in the design, production, and distribution of electric vehicles. Moreover, it was incorporated in October 2018. The company provides a diverse range of products, including E-rickshaws, E-Cargo/Loader E-rickshaws, and electric scooters. The company’s portfolio is beyond expectations, as they offered customized E-Three wheelers for specific purposes like food vending and ice cream sales.
The company delivers eco-friendly and sustainable transportation solutions through its extensive lineup 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. Financially, the revenue 2024 of Victory Electric Vehicles was 39.68 crore, and PAT(profit After Tax) was 3.89 crore.
Victory Electric Vehicles IPO Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | PAT | Assets |
| 2023 | ₹52.14 | ₹51.04 | ₹0.79 | ₹19.17 |
| 2024 | ₹48.76 | ₹42.19 | ₹4.89 | ₹21.94 |
| 2025 | ₹51.06 | ₹44.05 | ₹5.17 | ₹31.29 |
| September 2025 | ₹16.90 | ₹14.73 | ₹1.62 | ₹33.19 |
Victory Electric Vehicles IPO Valuation – FY2025
Check Victory Electric Vehicles IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 42.10% |
| ROCE: | 31.27% |
| EBITDA Margin: | 15.32% |
| PAT Margin: | 10.17% |
| Debt to equity ratio: | 0.62 |
| Earning Per Share (EPS): | ₹3.30 (Basic) |
| Price/Earning P/E Ratio: | 12.42 |
| Return on Net Worth (RoNW): | 42.11% |
| Net Asset Value (NAV): | ₹9.50 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Wardwizard Innovations & Mobilitity Limited | 0.26 | 32.58 | 6.50% | 4.08 | – Cr. |
| Tunwal E-Motors Limited | 2.32 | 15.32 | 19.26% | 20.09 | – Cr. |
IPO Lead Managers aka Merchant Bankers
- Corpwis Advisors Private Limited
Company Address
Victory Electric Vehicles International Limited
Plot no 6, Second Floor
A-5, Maa Bhagwati Apartment
Paschim Vihar
Phone:
Email: [email protected]
Website: http://www.victoryevehilceindia.com/
IPO Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: [email protected]
Website: https://maashitla.com/allotment-status/public-issues
Victory Electric Vehicles IPO FAQs
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Note: The Victory Electric Vehicles IPO price band and date are officially announced. The (Victory Electric Vehicles IPO grey market premium) will be added to the IPO GMP page as it will start).
