Victory Electric Vehicles International Ltd.
VICTORYSME
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Overview
Victory Electric Vehicles International Limited is an electric vehicle manufacturer specializing in a diverse range of products including Electric Rickshaws, Passenger Rickshaws, E-Loaders, Cargo Rickshaws, and Electric Scooters. The company extends its portfolio to include customized E-Three Wheelers tailored for specific applications such as food delivery and ice cream vending. With a robust distribution network, Victory Electric Vehicles operates across 12 states in India, focusing on the electrification of mobility and exploring opportunities for international exports.
Opening Date
Jan 07, 2026
Closing Date
Jan 09, 2026
Listing Date
Jan 14, 2026
IPO Type
SME
IPO Status
Closed
Issue Size
34.56 Cr
Fresh Issue
34.56 Cr
Offer for Sale
0 Cr
Price Band
₹41 - ₹41
Lot Size
3000
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
Our Company proposes to utilize the Net Proceeds from the Issue towards the following objects:
- •
Funding the capital expenditure of the company by investing in advanced machinery like an Optical CNC Cutting Machine, a Conveyorized Liquid Painting Plant, and a new steel structure for an assembly line to enhance production efficiency and capacity.
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Funding the incremental working capital requirements of the company for Fiscal 2025 and Fiscal 2026 to support business growth and operational needs.
- •
Funding general corporate purposes, which may include meeting operational expenses, payment of taxes, administration costs, and other business exigencies, not exceeding 25% of the gross proceeds.
Key Performance Indicator
P/E Ratio
12.41
EPS
3.3
ROE
42.1%
ROCE
31.27%
RONW
42.11%
Debt to Equity Ratio
—
PAT Margin
10.17%
EBITDA Margin
15.32%
P/B
4.32
SWOT Analysis
Strengths
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Experienced management team with extensive industry expertise and a proven track record.
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Strong customer relationships and the capability to offer customized vehicle solutions.
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Established geographical presence with a distribution network across 12 states in India.
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Robust financial performance with a consistent history of profitability and a healthy balance sheet.
Weaknesses
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High dependency on specific raw materials for battery production, which are subject to price volatility.
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Operations in a market with a significant presence of unorganized sector players.
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Lack of a complete Pan-India presence, with operations concentrated in specific regions.
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Dependence on a limited number of customers for a significant portion of revenue.
Opportunities
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Expansion into new geographical markets within India to establish a pan-India footprint.
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Growth of the product portfolio by introducing new models in both L3 and L5 EV categories.
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Leveraging the overall market growth and government incentives for the EV industry in India.
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Optimizing cost and business processes through technological advancements in manufacturing.
Threats
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Intense competition from established automotive players and new entrants in the EV market.
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Volatility in the price of raw materials, which could adversely affect production costs and margins.
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Rapid technological disruption that could make existing EV models and technologies obsolete.
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Potential supply chain vulnerabilities for critical components sourced internationally.
Subscription Rate
Frequently Asked Questions about Victory Electric Vehicles International Ltd.
Victory Electric Vehicles International Limited is an electric vehicle manufacturer specializing in a diverse range of products including Electric Rickshaws, Passenger Rickshaws, E-Loaders, Cargo Rickshaws, and Electric Scooters. The company extends its portfolio to include customized E-Three Wheelers tailored for specific applications such as food delivery and ice cream vending. With a robust distribution network, Victory Electric Vehicles operates across 12 states in India, focusing on the electrification of mobility and exploring opportunities for international exports.
The Victory Electric Vehicles International Ltd. IPO is scheduled to open for subscription on Jan 07, 2026 and close on Jan 09, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Victory Electric Vehicles International Ltd. IPO is ₹41 to ₹41. Investors can place bids within this range once the issue opens.
The minimum lot size for the Victory Electric Vehicles International Ltd. IPO is 3000 shares. The minimum investment amount ₹1,23,000.
The total issue size of the Victory Electric Vehicles International Ltd. IPO is approximately ₹34.56. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Victory Electric Vehicles International Ltd. IPO has been subscribed 0.95 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Victory Electric Vehicles International Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Victory Electric Vehicles International Ltd. are expected to list on stock exchanges on Jan 14, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Victory Electric Vehicles International Ltd. IPO are proposed to be used for Our Company proposes to utilize the Net Proceeds from the Issue towards the following objects:, Funding the capital expenditure of the company by investing in advanced machinery like an Optical CNC Cutting Machine, a Conveyorized Liquid Painting Plant, and a new steel structure for an assembly line to enhance production efficiency and capacity., Funding the incremental working capital requirements of the company for Fiscal 2025 and Fiscal 2026 to support business growth and operational needs., Funding general corporate purposes, which may include meeting operational expenses, payment of taxes, administration costs, and other business exigencies, not exceeding 25% of the gross proceeds.
Before applying for the Victory Electric Vehicles International Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
