Victory Electric Vehicles IPO description – Victory Electric Vehicles is an India-focused electric vehicle manufacturer operating in the fast-growing last-mile mobility segment. The company has steadily scaled its operations by aligning itself with India’s structural shift toward affordable, clean, and sustainable transportation solutions.
VEVIL’s core business lies in the manufacturing of electric three-wheelers and electric two-wheelers, with a diversified product portfolio spanning L3 electric rickshaws, L5 electric autos, electric cargo/loaders, and electric scooters. The company also offers customized electric vehicles such as food carts, ice-cream vans, garbage collection vehicles, and other application-specific three-wheelers, enabling it to cater to passenger mobility, cargo logistics, municipal services, and small commercial users. This customization capability provides a competitive edge in a largely price-sensitive and fragmented market.
The company operates a manufacturing facility with an installed capacity of 6,000 electric vehicles per annum and has demonstrated consistent capacity expansion in line with demand. Its distribution network spans multiple Indian states, with a strong presence in northern and central India, supported by a predominantly B2B revenue model. Financially, VEVIL has shown resilience and scalability, maintaining profitability even during industry disruptions and improving margins as operating leverage increased. As of 30 September 2025, Victory Electric Vehicles employed 110 permanent staff.
Promoters of Victory Electric Vehicles International – Sanjay Kumar Popli, Seema and Palak Poply
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Victory Electric Vehicles International IPO Details
| Victory Electric Vehicles IPO Dates | 7 – 9 January 2026 |
| Victory Electric Vehicles Issue Price | INR 41 per share |
| Fresh issue | 84,30,000 shares (INR 34.56 crore) |
| Offer For Sale | NIL |
| Total IPO size | 84,30,000 shares (INR 34.56 crore) |
| Minimum Bid | 6,000 shares (INR 2,46,000) |
| Lot Size | 3,000 shares (INR 1,23,000) |
| Face Value | INR 5 per share |
| Retail Allocation | 50% |
| Listing On | NSE EMERGE |
Victory Electric Vehicles Financial Performance
| FY 2023 | FY 2024 | FY 2025 | H1 FY 2026 | |
| Revenue | 51.91 | 48.44 | 50.86 | 16.81 |
| Expenses | 51.04 | 42.19 | 44.05 | 14.73 |
| Net income | 0.79 | 4.89 | 5.17 | 1.62 |
Victory Electric Vehicles Offer News
- Victory Electric Vehicles RHP
- Victory Electric Vehicles Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2024
Victory Electric Vehicles Valuations & Margins
| FY 2023 | FY 2024 | FY 2025 | |
| EPS | 0.96 | 3.16 | 3.30 |
| PE ratio | – | 12.42 | |
| RONW (%) | 22.47 | 70.19 | 42.11 |
| NAV | 5.16 | 6.26 | 9.50 |
| ROCE (%) | 14.13 | 44.78 | 31.27 |
| EBITDA (%) | 3.47 | 14.44 | 15.32 |
| Debt/Equity | 1.47 | 0.55 | 0.62 |
Victory Electric Vehicles IPO GMP Today
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| Coming soon | – | – | – |
Victory Electric Vehicles IPO Subscription – Live Updates
The market maker reservation portion of 4,23,000 shares is not included in the above calculations.
Victory Electric Vehicles IPO Allotment Status
Victory Electric Vehicles IPO allotment status will be available on the Maashitla Securities website. Click on Maashitla Securities IPO weblink to get allotment status.
Victory Electric Vehicles IPO Dates & Listing Performance
| IPO Opening Date | 7 January 2026 |
| IPO Closing Date | 9 January 2026 |
| Finalization of Basis of Allotment | 12 January 2026 |
| Initiation of refunds | 13 January 2026 |
| Transfer of shares to demat accounts | 13 January 2026 |
| IPO Listing Date | 14 January 2026 |
| Opening Price on NSE SME | Coming soon |
| Closing Price on NSE SME | Coming soon |
Victory Electric Vehicles Offer Lead Manager
CORPWIS ADVISORS PRIVATE LIMITED
G-07, Ground Floor, The Summit Business Park (Omkar),
Andheri Kurla Road, Andheri East, Mumbai-400093, Maharashtra
Phone: +91 – 22 – 4972 9990
Email: [email protected]
Website: www.corpwis.com
Victory Electric Vehicles Offer Registrar
MAASHITLA SECURITIES PRIVATE LIMITED
451, Krishna Apra Business Square,
Netaji Subhash Place, Pitampura, Delhi – 110034
Phone: +91-11-45121795
Email: [email protected]
Website: www.maashitla.com
Victory Electric Vehicles Contact Details
VICTORY ELECTRIC VEHICLES INTERNATIONAL LIMITED
Plot no 6, Second Floor, A-5, Maa Bhagwati
Apartment, Paschim Vihar, New Delhi-110063
Phone: +91 9643108966
E-mail: [email protected]
Website: www.victoryevindia.com
IPO FAQs
What is the Victory Electric Vehicles offer size?
Victory Electric Vehicles offer size is INR 34.56 crores.
What is the Victory Electric Vehicles offer price band?
Victory Electric Vehicles public offer price is INR 41 per share.
What is the lot size of the Victory Electric Vehicles IPO?
Victory Electric Vehicles offer lot size is 3,000 shares.
What is Victory Electric Vehicles IPO GMP today?
Victory Electric Vehicles IPO GMP today is INR NA per share.
What is the Victory Electric Vehicles kostak rate today?
Victory Electric Vehicles kostak rate today is INR NA per application.
What is Victory Electric Vehicles IPO Subject to Sauda rate today?
Victory Electric Vehicles Subject to Sauda rate today is INR NA per application.