Victory Electric Vehicles International IPO: GMP, Price, Analysis, And Details

Victory Electric Vehicles International IPO- Company Analysis

Victory Electric Vehicles International IPO under the SME IPO category is a fixed price issue of Rs. 34.56 Cr by Victory Electric Vehicles International Limited and creates, produces, and sells electric cars.

The company offers sustainable and ecologically friendly mobility solutions by offering a range of electric two-wheelers, three-wheelers and commercial vehicles. It seeks to assist the world's shift to green energy by encouraging the usage of electric vehicles.

The types of goods sold by the company include scooters, e-rickshaws and e-cargo/loader e-rickshaws. The firm is incorporating some of the most advanced technologies into their cars among which are such things as intelligent connectivity, efficient electric drives and lithium-ion battery systems. It expects a brighter and greener future as it is geared towards such goals as those of the world in reducing carbon emissions and reliance on fossil fuels.

Victory Electric Vehicles International IPO Details

The Victory Electric Vehicles International IPO date of opening is 07 Jan 2026, its initial public offering will end on 09 Jan, IPO allotment on Jan 12 and refund initiation on Jan 13, 2026.

The Rs. 34.56 crore new SME IPO comprises a wholly fresh issue of 0.84 crore shares.

The Victory Electric Vehicles International IPO listing date (expected) might be on Wednesday, Jan 14, 2026, and listing at the NSE and SME. 

The Victory Electric Vehicles International IPO price band is Rs. 41.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Jan 07, 2026
IPO Closing Date	Jan 09, 2026
IPO Allotment Date	Jan 12, 2026
Refund Initiation	Jan 13, 2026
IPO Listing Date	Jan 14, 2026

 

Click to open demat account and apply for the IPO.

 

Company Financials

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	31.29	21.94	19.17
Total Income	51.06	48.76	52.14
PAT	5.17	4.89	0.79
EBITDA	7.79	6.99	1.80
Net Worth	14.87	9.70	4.24
Reserves & Surplus	7.04	7.09	2.20
Total Borrowing	9.29	5.30	2.90

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(196.72)	215.17	252.03
Net Cash Flow Investing Activities	(60.69)	(89.97)	(143.10)
Net Cash Flow Financing Activities	298.05	(83.42)	(154.84)

 

Revenue Bifurcation

(Rs. in Lac)

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Capital Expenditure. ~ Rs. 5 Cr.

• Working capital requirement. ~ Rs. 18 Cr.

• General corporate purposes. ~ Rs. 6.78 Cr.

 

Listed Peers of Victory Electric Vehicles International Ltd.

Name of the Company	Face Value (₹)	EPS (₹)	P/E Ratio (x)
Wardwizard Innovations & Mobility Limited	1	0.26	32.58
Tunwal E-Motors Limited	2	2.32	15.32

 

Valuation

KPI	Value
ROE	42.10%
ROCE	31.27%
Debt / Equity	0.62
RoNW	42.11%
PAT Margin	10.17%
EBITDA Margin	15.32%

 

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 3.30 from the last year, the resulting P/E ratio is 12.42x.

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IPO's Strengths

• Geographically, there are dealers in each of the 12 states.

• Skilled Professional Staff Supports Experienced Leadership.

• strong financial results.

 

IPO’s Weaknesses

• Reliance on unprocessed materials.

• Unorganized Industry.

• Risks to competition from both new and established players.

• Price volatility of raw materials.
  
  

Victory Electric Vehicles International IPO GMP (Grey Market Premium)

Victory Electric Vehicles International IPO GMP today has not started yet as of 02 Jan 2026 while writing this information.

Victory Electric Vehicles International IPO Summary

IPO Opening & Closing Date	07 Jan, 2026 to 09 Jan, 2026
Face Value	Rs. 5 per Share
Issue Price	Rs. 41 per Share.
Lot Size	3000 Shares
Issue Size	84,30,000 Shares (Rs. 35 Cr)
Offer for Sale	-
Fresh Issue	84,30,000 Shares (Rs. 35 Cr)
Listing at	NSE, SME
Issue Type	Fixed price issue IPO
Registrar	Maashitla Securities Pvt. Ltd.

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (6000 Shares) for Rs. 2,46,000, and in multiples thereof, while HNI investors can invest in a minimum of 3 Lots (9000 Shares) for Rs. 3,69,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

Victory Electric Vehicles International IPO Allotment Status

To check the Victory Electric Vehicles International IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Victory Electric Vehicles International Ltd.

• Sanjay Kumar Popli

• Seema

• Palak Poply.

Pre-Issue Promoter Shareholding	97.41%
Post-Issue Promoter Shareholding	63.33%

 

IPO Lead Managers

• Corpwis Advisors Pvt. Ltd.
  
  

Dividend Policy

The company has not paid a dividend during the last three financial years.

 

 

Conclusion

With improved financials and good profitability parameters like ROE and ROCE, Victory Electric Vehicles International IPO provides exposure to India's rapidly expanding electric mobility market. It has a reasonable P/E ratio in comparison to listed peers and its obvious emphasis on EV innovation. However, before applying investors should take working-capital risks and industry peers into account.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.