Victory Electric Vehicles International Limited
Fixed Price IPO · NSE
- Price band
- ₹41 - ₹41
- Lot size
- 3,000 shares
- Issue amount
- ₹35 cr
- Total subscription
- 1.02×
- Opens
- 7 Jan 2026
- Closes
- 9 Jan 2026
- Allotment
- 12 Jan 2026
- Listing
- 14 Jan 2026
Offer at a glance
Issue overview
- Issue size
- 84,30,000 shares
- Face value
- ₹5 per share
- Minimum investment
- ₹1,23,000
- Fresh issue
- ₹35 cr
- Offer for sale
- ₹0 cr
- Registrar
- Maashitla Securities Private Limited
- Listing exchange
- NSE
- Maximum investment
- ₹1,23,000
- Issue type
- Fixed Price IPO
- Shares before issue
- 1,56,60,000
- Shares after issue
- 2,40,90,000
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 6,000 | ₹2,46,000 |
| sHNI | 3 | 9,000 | ₹3,69,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 9 Jan 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| QIB | 0 | 4 |
| NIB | 0 | 36 |
| RETAIL | 668 | 674 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| Others | 0 | 10.49 |
| RETAIL | 16.42 | 16.58 |
| NIB | 16.41 | 16.78 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Sep-25 | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|---|
| EPS | 2.08 | 8.93 | 18.95 | 5.76 |
| ROE | 10.35 | 42.1 | 70.19 | 22.46 |
| ROCE | 10.23 | 31.72 | 44.78 | 14.13 |
| RONW | 0 | 0 | 0 | 0 |
| PRE IPO(PE) | 0 | 12.41 | 0 | 0 |
| POST IPO(PE) | 30.41 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Wardwizard Innovations & Mobility Limited | 32.58 | 0 | 1.00 | 4.08 | 6.50 | 0.26 |
| Victory Electric Vehicles International Limited | 12.42 | 0 | 5.00 | 10.54 | 10.35 | 2.08 |
| Tunwal E-motors Limited | 15.32 | 0 | 2.00 | 20.09 | 19.26 | 2.32 |
Company information
Company profile
Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles, offering sustainable mobility solutions through a range of electric two-wheelers, three-wheelers, and commercial vehicles. The company’s product portfolio includes E-rickshaws, E-Cargo/Loader E-rickshaws, scooters, and customized three-wheelers such as food and ice cream vehicles, integrating advanced technologies like lithium-ion battery systems, efficient electric drivetrains, and smart connectivity features. Serving both domestic and international markets, Victory Electric Vehicles focuses on reliable performance, cost-effective ownership, and minimal environmental impact, with a mission aligned to global efforts in promoting green energy, reducing carbon emissions, and decreasing dependence on fossil fuels.
Strengths
- Expanding Product Portfolio: Plans to offer EVs across multiple segments, including 2-wheelers, 3-wheelers, and customizable L3 & L5 models.
- Improved Distribution Network: Setting up multi-location warehouses to reduce delivery time and logistics costs.
- Charging Infrastructure Development: Plans to establish EV charging stations across India to support customers and boost EV adoption.
Risk factors
- Risk of Product Defects: Any quality issues or underperformance may lead to recalls, legal costs, and damage to brand reputation.
- Dependence on Third-Party Suppliers: Relies fully on external suppliers, making operations vulnerable to supply delays or defects.
- Limited Supplier Base: Regulatory requirements restrict supplier options, increasing the risk of operational disruptions.
Promoters
Sanjay Kumar Popli
Seema Popli
Palak Popli
Registrar & documents
Lead manager
Corpwis Advisors Private Limited
Registrar & contacts
Maashitla Securities Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Plot no 6, Second Floor A-5, Maa Bhagwati Apartment Paschim Vihar West Delhi, New Delhi, 110063
+919643108966
[email protected]Company website ↗Understanding VICTORYEV IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.