Victory Electric Vehicles IPO
Victory Electric Vehicles IPO
Overview
Victory Electric Vehicles IPO is a fixed price issue of ₹34.56 crores. The issue is entirely a fresh issue of 0.84 crore shares of ₹34.56 crore. Victory Electric Vehicles IPO opens for subscription on Jan 7, 2026 and closes on Jan 9, 2026. The allotment for the Victory Electric Vehicles IPO is expected to be finalized on Jan 12, 2026. Victory Electric Vehicles IPO will list on NSE SME with a tentative listing date fixed as Jan 14, 2026. Victory Electric Vehicles IPO price is ₹41 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹2,46,000 (6,000 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (9,000 shares), amounting to ₹3,69,000. Corpwis Advisors Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Alacrity Securities Ltd..
Total Shares
84,30,000
Issue Size
₹35 Cr
Price Band
₹41 – ₹41
Lot Size
3000 shares
Min. Investment
₹2,46,000
Max. Investment
₹2,46,000
Open Date
07 Jan, 2026
Close Date
09 Jan, 2026
Allotment
12 Jan, 2026
Listing
14 Jan, 2026
Max. Investment
₹2,46,000
Announced
07 Jan, 2026
Opening Date
07 Jan, 2026
Closing Date
09 Jan, 2026
Basis of Allotment
12 Jan, 2026
Initiation of Refunds
13 Jan, 2026
Credit of Shares
13 Jan, 2026
Listing Date
14 Jan, 2026
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About Victory Electric Vehicles IPO
About Victory Electric Vehicles International Ltd.
Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles.
The company provides sustainable and eco-friendly mobility solutions by offering a wide range of electric two-wheelers, three-wheelers, and commercial vehicles. Victory Electric Vehicles In
Victory Electric Vehicles IPO Share Price
Issue Breakdown
Shareholding
Dilution: 53.8% increase in shares
Victory Electric Vehicles IPO Financial Health
Victory Electric Vehicles IPO Lot Size
Investors can bid for a minimum of 6,000 shares and in multiples of 3,000 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 6000 | ₹2,46,000 |
| Individual investors (Retail) (Max) | 2 | 6000 | ₹2,46,000 |
| HNI (Min) | 3 | 9000 | ₹3,69,000 |
(All values in CR)
Victory Electric Vehicles IPO Valuations
KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROE | 42.10 |
| ROCE | 31.27 |
| Debt/Equity | 0.62 |
| RoNW | 42.11 |
| PAT Margin | 10.17 |
| EBITDA Margin | 15.32 |
| Price to Book Value | 4.32 |
(All values in CR)
Victory Electric Vehicles IPO Strength & Risk
Victory Electric Vehicles IPO – Strengths
Presence in the rapidly growing electric vehicle segment supported by increasing adoption and policy push
Established manufacturer with a diversified electric vehicle product portfolio
Expanding dealer and distribution network across multiple regions
Experienced management team with industry knowledge and execution capability
Improving operational performance indicating business stability
Victory Electric Vehicles IPO – Risks
Dependence on successful development and launch of new electric vehicle models
Reliance on third-party suppliers for key components and raw materials
Risk of product quality issues impacting brand image and customer confidence
Highly competitive electric vehicle market affecting pricing and margins
SME listing may lead to lower post-listing liquidity and higher volatility
Victory Electric Vehicles IPO Subscriptions Status
Victory Electric Vehicles IPO subscribed 1.27 times. The public issue subscribed 0.99 times in the individual investors category, [.] times in QIB (Ex Anchor), and 0.91 times in the NII category by January 9, 2026 6:03:20 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Market Maker | 1.00 | 4,23,000 | 4,23,000 | 1.73 |
| Non-Institutional Buyers | 0.91 | 40,02,000 | 36,45,000 | 14.94 |
| Individual Investors | 0.99 | 40,05,000 | 39,60,000 | 16.24 |
| Total | 1.27 | 80,07,000 | 1,01,64,000 | 41.67 |
Victory Electric Vehicles IPO GMP
Victory Electric Vehicles SME IPO last GMP is ₹0, last updated Jan 9th 2026 05:37 PM. With the price band of 41.00, Victory Electric Vehicles SME IPO's estimated listing price is ₹41 (cap price + today's GMP).The expected percentage gain/loss per share is 0.00%.
Last updated 09 Jan, 2026 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 09 Jan, 2026 | 41 | ₹0 | - | ₹41 (0.00%) | - | 09 Jan, 2026 |
| 08 Jan, 2026 | 41 | ₹0 | - | ₹41 (0.00%) | - | 08 Jan, 2026 |
| 07 Jan, 2026 | 41 | ₹0 | - | ₹41 (0.00%) | - | 07 Jan, 2026 |
| 06 Jan, 2026 | 41 | ₹0 | - | ₹41 (0.00%) | - | 06 Jan, 2026 |
| 05 Jan, 2026 | 41 | ₹0 | - | ₹41 (0.00%) | - | 05 Jan, 2026 |
| 04 Jan, 2026 | 41 | ₹0 | - | ₹41 (0.00%) | - | 04 Jan, 2026 |
| 03 Jan, 2026 | 41 | ₹0 | - | ₹41 (0.00%) | - | 03 Jan, 2026 |
| 02 Jan, 2026 | 41 | ₹0 | - | ₹41 (0.00%) | - | 02 Jan, 2026 |
| 01 Jan, 2026 | 41 | ₹0 | - | ₹ (%) | - | 01 Jan, 2026 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Victory Electric Vehicles IPO
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Open Zerodha, Upstox, Groww, Angel One, or any brokerage app.
Go to IPO Section
Find Victory Electric Vehicles IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
Enter UPI ID and Submit
Provide your UPI ID linked to your bank account and submit the application.
Approve Mandate on UPI App
Open your UPI app (Google Pay, PhonePe, Paytm, BHIM) and approve the IPO payment request.
Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.
FAQs About Victory Electric Vehicles Ipo
Victory Electric Vehicles IPO will open on 20 May, 2025 and close on 23 May, 2025. Investors must apply within this period to participate.
The Victory Electric Vehicles IPO price band is set between ₹72.00 and ₹72.00 per share. The minimum lot size is 1600, requiring an investment of at least ₹115200.00.
The Victory Electric Vehicles IPO shares are expected to be listed on 28 May, 2025, subject to regulatory approvals and final allotment.
You can track your Victory Electric Vehicles IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID
The Victory Electric Vehicles IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.