Victory Electric Vehicles International Ltd IPO
Automobile
Price Band
₹41 – ₹41
Lot Size
3000
Minimum Bid Quantity
6000
Minimum Investment
₹246000
Issue Size
₹34.56Cr
Opens
2026-01-07
Closes
2026-01-09
Listing
14-01-2026
Subscription Status
Qualified Institutional Buyers
0 x
Non-Institutional Investor
0.34 x
Retail Individual Investor
0.98 x
Total
0.95 x
IPO Details
Issue Type
EQUITY
Face Value
₹5
Tick Size
1
ISIN
INE0F8901022
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
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.
Pros
- • The company claims to have a wide geographical presence across India, reflecting its focus on promoting sustainable mobility. It has established operations in states, including Uttar Pradesh, Rajasthan, Haryana, Bihar, Madhya Pradesh, Jharkhand, Delhi, Chandigarh, Uttarakhand, Jammu and Kashmir, Gujarat, and Maharashtra. The company claims that such a wide presence supports market access and regional diversification.
- • The company states that its continued business growth is supported by the strong industry knowledge and experience of its senior management team. It further states that its promoters and senior management together have more than 10 years of hands-on experience, enabling them to identify market opportunities effectively and develop products and services that meet the needs of specific customer segments.
- • The company has witnessed a consistent increase in profit after tax (PAT). It increased from Rs 0.79 crore in FY23 to Rs 4.89 crore in FY24 and Rs 5.17 crore in FY25.
Cons
- • The company manufactures electric vehicles. If these vehicles have manufacturing defects, fail to meet industry standards, or do not achieve the advertised performance levels, the company’s brand image and reputation could be harmed. Such issues could negatively affect the company’s operations and finances.
- • The company depends on third-party suppliers for raw materials and does not have long-term supply contracts or exclusive arrangements with its suppliers. The loss of any supplier could adversely affect its business and finances.
- • The National Company Law Tribunal initiated the Corporate Insolvency Resolution Process against the company through an order dated May 9, 2025. Following a settlement with the operational creditor and with no objection from the sole financial creditor, the NCLT allowed the withdrawal of the CIRP proceedings through an order dated August 21, 2025. Although the proceedings were withdrawn, they temporarily affected business operations, financial flexibility, and strategic initiatives. Despite the resumption of normal operations, the past CIRP proceedings may continue to create residual risks, including negative investor perception and reduced ability to raise capital on favourable terms.
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