Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles, offering eco-friendly and sustainable mobility solutions.
Victory Electric Vehicles IPO 2026 – Dates, Price, Lot Size, Review & Full Details
Fixed Price IPO | NSE SME
IPO Snapshot
7 January 2026
9 January 2026
12 January 2026
14 January 2026 (Tentative)
₹41 per share
3,000 shares
₹34.56 Crore
Fixed Price IPO (Fresh Issue)
Victory Electric Vehicles IPO Key Details
| Particular | Details |
|---|---|
| IPO Dates | 7 to 9 January 2026 |
| Face Value | ₹5 per share |
| Issue Price | ₹41 per share |
| Total Issue Size | 84,30,000 shares (₹34.56 Cr) |
| Market Cap (Pre-IPO) | ₹98.77 Crore |
| Listing At | NSE SME |
| Issue Type | Fixed Price IPO |
| Sale Type | Fresh Capital |
| Registrar | Maashitla Securities Pvt. Ltd. |
| Lead Manager | Corpwis Advisors Pvt. Ltd. |
| Market Maker | Alacrity Securities Ltd. |
IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Wednesday, 7 January 2026 |
| IPO Closes | Friday, 9 January 2026 |
| Allotment | Monday, 12 January 2026 |
| Refunds | Tuesday, 13 January 2026 |
| Shares Credited | Tuesday, 13 January 2026 |
| Listing | Wednesday, 14 January 2026 |
IPO Lot Size & Investment Details
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Minimum & Maximum) | 2 | 6,000 | 2,46,000 |
| HNI (Minimum) | 3 | 9,000 | 3,69,000 |
IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Market Maker | 4,23,000 (5.02%) |
| NII (HNI) | 40,02,000 (47.47%) |
| Retail | 40,05,000 (47.51%) |
| Total | 84,30,000 (100%) |
About Victory Electric Vehicles International Ltd.
Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles, offering eco-friendly and sustainable mobility solutions.
The company’s product portfolio includes electric two-wheelers, three-wheelers, e-rickshaws, cargo loaders, scooters, and customised electric vehicles such as food and ice-cream three-wheelers.
The company integrates lithium-ion battery systems, efficient drivetrains, and smart connectivity features, serving both domestic and international markets.
Competitive Strengths
- Dealer presence across 12 Indian states
- Experienced leadership and professional management team
- Focus on sustainable electric mobility solutions
- Diverse electric vehicle product portfolio
Financial Performance (₹ Crore)
| Particular | 30 Sep 2025 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| Total Income | 16.90 | 51.06 | 48.76 | 52.14 |
| Profit After Tax | 1.62 | 5.17 | 4.89 | 0.79 |
| EBITDA | 2.60 | 7.79 | 6.99 | 1.80 |
| Net Worth | 16.50 | 14.87 | 9.70 | 4.24 |
| Total Assets | 33.19 | 31.29 | 21.94 | 19.17 |
Objects of the Issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Capital Expenditure | 5.00 |
| Working Capital Requirement | 18.00 |
| General Corporate Purposes | 6.78 |
Key Performance Indicators (FY25)
| 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 |
| Post-IPO P/E | 30.41x |
IPO Registrar
Maashitla Securities Pvt. Ltd.
Phone: +91-11-45121795-96
Email: ipo@mashitla.com
IPO Lead Manager
- Corpwis Advisors Pvt. Ltd.
Lead Manager reports include performance summary and tracker.
Company Contact Details
Victory Electric Vehicles International Ltd.
Plot No. 6, Second Floor, A-5, Maa Bhagwati Apartment,
Paschim Vihar, West Delhi, New Delhi – 110063
Phone: 9643108966
Email: compliance@victoryevindia.com
Frequently Asked Questions (FAQ)
What is the Victory Electric Vehicles IPO date?
The IPO opens on 7 January 2026 and closes on 9 January 2026.
What is the issue price of Victory Electric Vehicles IPO?
The IPO price is fixed at ₹41 per share.
What is the lot size of Victory Electric Vehicles IPO?
Investors must apply for a minimum of 6,000 shares.
When will Victory Electric Vehicles IPO allotment be finalised?
The allotment is expected on 12 January 2026.
On which exchange will Victory Electric Vehicles IPO list?
The IPO will list on NSE SME.
The fixed-price IPO model seems straightforward, and it’s good to see that the retail category gets a significant portion of the shares (47.51%). It’ll be interesting to see how the demand plays out in the coming days.