Victory Electric Vehicles International
CLOSEDIPO Date: 7 Jan - 9 Jan 2026
Listing Date: 14 Jan 2026
Price Range
₹41 - ₹41
Issue Size
35 Cr
Min Investment
₹1,23,000
Lot Size
3000 Shares
Schedule of Victory Electric Vehicles International
Issue open date
7 Jan 2026
Issue close date
9 Jan 2026
UPI mandate deadline
9 Jan 2026 (5 PM)
Allotment finalization
12 Jan 2026
Share credit
13 Jan 2026
Listing date
14 Jan 2026
Mandate end date
24 Jan 2026
Issue size
| Funds Raised in the IPO | Amount |
|---|---|
| Overall | 35 Cr |
| Fresh Issue | 34.56 Cr |
| Offer for Sale | 0 Cr |
Allotment DetailsNew
| Allotment Timeline | Details |
|---|---|
| Allotment Date | 12 Jan 2026 |
| Allotment Link | {Link} |
Grey Market PremiumNew
Grey Market Premium (GMP) is the premium at which the shares are traded in the grey market. It gives a fair idea about the listing price of the IPO shares. The GMP can be positive or negative based on the demand and supply of the shares in the grey market.
| Date | Ipo Price | GMP | Estimated Listing Price |
|---|---|---|---|
| 17 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 16 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 15 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 13 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 11 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 10 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 8 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 6 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 5 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 4 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 3 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 2 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
| 1 Jan 2026 | ₹41 | ₹0 | ₹41 (0%) |
Performance Victory Electric Vehicles International
| Issue Price | Listing Gain | Current Market Price | P/L |
|---|---|---|---|
| ₹41 - ₹41 | ₹ 54 (-15.98%) | ₹ 15.2 | -62.93% |
About Victory Electric Vehicles International
Victory Electric Vehicles International is a manufacturer of electric vehicles (EVs), including e-rickshaws, e-cargo or loader e-rickshaws, and electric scooters. It also produces customised electric three-wheelers designed for specific uses, such as food vending and ice cream distribution. The product range includes L3 electric vehicles, which are technically classified as electric rickshaws or e-carts. These vehicles have a maximum speed of up to 25 kmph and a motor power of 1,200 watts or less. The company also manufactures L5 electric vehicles, which are three-wheeled vehicles intended for passenger or goods transport, with a maximum speed of up to 55 kmph and a motor power of 3,000 watts or less. In addition, the company manufactures electric scooters, which are two-wheeled vehicles powered by electric motors and rechargeable batteries. These scooters have a maximum speed of up to 25 kmph.
| Founded in | 2018 |
| Managing director | Mr Sanjay Kumar Popli |
| Parent organization |
Financial Overview
Strengths
- Established EV manufacturer with a diversified product range across e-rickshaws, loaders and scooters.
- Ability to offer customised electric three-wheelers for niche commercial applications.
- Presence in high-demand EV markets supported by government EV policies.
- Asset-light dealer-led distribution model across multiple Indian states.
- Experienced promoters with operational knowledge of the EV ecosystem
Risks
- Revenue is highly dependent on a few states and dealer relationships.
- Heavy reliance on third-party suppliers for key EV components and batteries.
- Operates in a highly competitive and fragmented EV market with low entry barriers.
- Past NCLT insolvency proceedings may impact investor confidence.
- Business performance depends significantly on promoters and key management personnel.
Subscription Figures
| Category | Subscription (No. of times) |
|---|---|
| Qualified Institutional Buyers (QIBs) | N/A |
| Non-Institutional Investors (NIIs) | 0.34 |
| Retail Individual Investors (RIIs) | 0.98 |
| Employee | N/A |
| Total | 0.95 |