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Victory Electric Vehicles International Ltd IPO

We are in the business of manufacturing Electric Vehicles which includes Electric Rickshaws, Passenger Rickshaws, E-Loaders, Cargo Rickshaws and Electric Scooters. Our portfolio extends beyond conventional offerings to include customized E-Three Wheelers, catering to specific needs such as Food Three Wheelers and Ice Cream Three Wheelers.

Victory Electric Vehicles International Ltd IPO Details

Total Shares Offered

₹ 84,30,000

Offer to Public

TBA

Retail Max (Shares)

₹ 40,05,000

Pre Issue Promoters Holding

₹ 1,52,55,500

Exchange

NSE

Issue size

₹ 34.56 Cr

IPO Open Date

Jan 7, 2026

Close Date

Jan 9, 2026

Lot Size

6000

Min Investment

₹ 2,46,000

Issue Type

Fixed Price - SME

Listing Date

Jan 14, 2026

Victory Electric Vehicles International Ltd IPO Dates

Jan 7, 2026

Opening date

Jan 9, 2026

Closing date

Jan 12, 2026

Basis of Allotment

Jan 13, 2026

Initiation of Refunds

Jan 13, 2026

Credit of Shares

Jan 14, 2026

Listing date

Details

Sector	Type
Sector	Automobiles - Motorcycles
Sub Sector	Mopeds
Issue Type	Fixed Price - SME

Subscription Status

*Values are in Lakhs

Investor Type	Subscription Times	Shares Offered*
QIB	0x	0
NII	0x	4002000
Retail	0x	4005000
Employee	0x	0
Total	0x	8430000

Investor Type

QIB

NII

Retail

Employee

Total

Subscription Times

4002000

4005000

8430000

Victory Electric Vehicles International Ltd Financial Status

Income Statement

Particulars (In Rs. Crores)

Balance Sheet

Particulars (In Rs. Crores)

Particulars (in Rs. Crores)	FY23	FY22	FY21
Revenue from operations	6.85	1.42	1.17
EBITDA	7.13	1.75	1.43
PAT	4.89	0.79	0.65
Total Assets	20.21	16.82	18.34
Share Capital	2.61	2.04	1.37
Total Borrowings	11.20	13.08	10.84
Operating Activities (Net Cash)	5.17	1.12	0.91
Investing Activities (Net Cash)	-0.18	0.00	0.00
Financing Activities (Net Cash)	11.20	13.08	10.84
Net Cashflow	0.45	0.03	0.49

About Victory Electric Vehicles International Ltd

Our Company was incorporated as `Victory Electric Vehicles International Private Limited' a private limited company, under the Companies Act, 2013, pursuant to a certificate of incorporation dated October 26, 2018 issued by the ROC, Central Registration Centre. Subsequently, our Company was converted into a public limited company pursuant to a special resolution passed by our shareholders in the extra ordinary general meeting held on February 10,2020 and the name of our Company was changed to `Victory Electric Vehicles International Limited' and a fresh Certificate of Incorporation dated February 28, 2020 was issued to our Company by the Registrar of Companies, Delhi.

Our Company operates in electric vehicle industry. India's electric vehicle (EV) sector is experiencing rapid growth, fuelled by government incentives, rising environmental concerns, and technological advancements. With initiatives like the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME) scheme, India aims to significantly increase EV adoption, revolutionizing its transportation landscape towards sustainability and innovation. In 2023, the global electric vehicle market was valued at US$ 255.54 billion. It is forecasted to reach approximately US$ 2,108.80 billion by 2033, growing at a significant CAGR of 23.42% from 2024 to 2033. According to Fortune Business Insights, the Indian EV market is forecasted to expand from US$ 3.21 billion in 2022 to US$ 113.99 billion by 2029, with a 66.52% CAGR. In 2023, electric vehicle sales in India surged by 49.25%, reaching 1.52 million units. India has established an objective to increase the proportion of electric vehicle (EV) sales to 30% in private cars, 70% in commercial vehicles, 40% in buses, and 80% in two-wheelers and three-wheelers by the year 2030. This equates to an ambitious objective of 80 million EVs on Indian roads by 2030 as per the estimates of CII. The global move towards electric vehicles is generating new opportunities for automotive suppliers. The Indian EV battery market is projected to surge from US$ 16.77 billion in 2023 to a remarkable US$ 27.70 billion by 2028.

Peer Comparison:

Victory Electric Vehicles Intl. Ltd
Wardwizard Innovations & Mobilitity Limited
Tunwal E-Motors Limited

Victory Electric Vehicles International Ltd Key Points

Strengths

Geographical presence in 12 states with dealers in all 12 states.

Experienced Leadership Backed by a Skilled Professional Team.

Robust Financial Performance: Maintaining Profitability through COVID-19 Challenges.

Risk

Its success depends on the company ability to successfully develop, introduce, manufacture, market and deliver new electric vehicle models of high quality on schedule and on a large scale, which may expose it to new and increased challenges and risks.

If the company electric vehicles contain defects, does not perform as per industry standards and/or fail to meet the performance levels advertised, its brand and reputation and the company ability to develop, market and sell its electric vehicles could be adversely impacted, and its may be compelled to undertake product recalls or similar corrective actions and have legal actions taken against the company.

The company depends on third parties for the supply of raw materials and does not have firm commitments for supply or exclusive arrangements with any of its suppliers. Loss of suppliers may have an adverse effect on its business, results of operations and financial condition.

Strategy

Increase and Strengthen Manufacturing Capacity.

Geographical Expansion.

Expand the product portfolio.

Open warehouses at different locations to decrease Delivery time for small dealers.

Building Charging Infrastructure.

How To Apply for Victory Electric Vehicles International Ltd IPO Online?

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From the list of open IPOs, select the IPO you want to invest.

Step 3:

Go through the IPO details like lot size, price band, about the company, etc.

Step 4:

Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.

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Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

FAQs on IPO (Initial Public Offering)

What is the issue size of the Victory Electric Vehicles International Ltd IPO?

Victory Electric Vehicles International Ltd's IPO offers shares for up to 34.56 It begins on Jan 7, 2026 and ends on Jan 9, 2026.

What is the price of the Victory Electric Vehicles International Ltd IPO?

The price of Victory Electric Vehicles International Ltd IPO ranges between ₹41 to ₹41 per share.

What are the open and close dates for the Victory Electric Vehicles International Ltd IPO?

The Victory Electric Vehicles International Ltd IPO opens on Jan 7, 2026 and closes on Jan 9, 2026.

When will the Victory Electric Vehicles International Ltd IPO be allotted?

The allotment for the Victory Electric Vehicles International Ltd IPO will be finalised on Jan 12, 2026. The shares will be listed on BSE and NSE on Jan 14, 2026.

What is the minimum lot size required for Victory Electric Vehicles International Ltd IPO?

The minimum lot size for Victory Electric Vehicles International Ltd IPO is 6000 shares, priced between ₹41 to ₹41 per share.

What is the GMP of Victory Electric Vehicles International Ltd IPO?

The GMP (Grey Market Premium) of Victory Electric Vehicles International Ltd IPO fluctuates based on market demand and sentiment.

How do you check the allotment status of Victory Electric Vehicles International Ltd IPO?

To check the allotment status of Victory Electric Vehicles International Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

Where is the Victory Electric Vehicles International Ltd IPO getting listed?

The Victory Electric Vehicles International Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Jan 7, 2026, and closes on Jan 9, 2026. The allotment is finalised on Jan 12, 2026.

How do you apply for the Victory Electric Vehicles International Ltd IPO?

To apply for the Victory Electric Vehicles International Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.