Victory Electric Vehicles International IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Jan 07 to Jan 09 2026
Price Band
₹41
Current GMP
₹34.45 (-15.98%)
Subscription
1.27 times
IPO Details
| IPO Date | 7 to 9 Jan, 2026 |
| Listing Date | Wed, Jan 14, 2026 |
| Face Value | ₹ 5 per share |
| Issue Price | ₹41 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 84,30,000 shares (agg. up to ₹ 35 Cr) |
| Reserved for Market Maker | 4,23,000 shares (agg. up to ₹ 2 Cr) Alacrity Securities Ltd. |
| Net Offered to Public | 80,07,000 shares (agg. up to ₹ 33 Cr) |
| Share Holding Pre Issue | 1,56,60,000 shares |
| Share Holding Post Issue | 2,40,90,000 shares |
| NSE Symbol | VICTORYEV |
| ISIN | INE0F8901022 |
IPO Date
7 to 9 Jan, 2026
Listing Date
Wed, Jan 14, 2026
Face Value
₹ 5 per share
Issue Price
₹41 per share
Lot Size
3,000 Shares
Sale Type
Fresh Capital
Issue Type
Fixed Price IPO
Listing At
NSE SME
Total Issue Size
84,30,000 shares (agg. up to ₹ 35 Cr)
Reserved for Market Maker
4,23,000 shares (agg. up to ₹ 2 Cr) Alacrity Securities Ltd.
Net Offered to Public
80,07,000 shares (agg. up to ₹ 33 Cr)
Share Holding Pre Issue
1,56,60,000 shares
Share Holding Post Issue
2,40,90,000 shares
NSE Symbol
VICTORYEV
ISIN
INE0F8901022
IPO Subscription Details
| Market Maker | 1 |
| Non-Institutional Buyers*** | 0.91 |
| Individual Investors | 0.99 |
| Total ** | 1.27 |
Market Maker
1
Non-Institutional Buyers***
0.91
Individual Investors
0.99
Total **
1.27
Day Wise Sub
| Day | NII* | Individual Investors | Total |
|---|---|---|---|
| Jan 7 , 2026 (Day 1) | 0.18 | 0.40 | 0.29 |
| Jan 8 , 2026 (Day 2) | 0.09 | 0.66 | 0.37 |
| Jan 9 , 2026 (Day 3) | 0.91 | 0.99 | 1.27 |
DayJan 7
, 2026 (Day 1)
NII*0.18
Individual Investors0.40
Total0.29
DayJan 8
, 2026 (Day 2)
NII*0.09
Individual Investors0.66
Total0.37
DayJan 9
, 2026 (Day 3)
NII*0.91
Individual Investors0.99
Total1.27
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 14-01-2026 | 41.00 | 0(0.00%) | 41 |
| 13-01-2026 | 41.00 | 0(0.00%) | 41 |
| 12-01-2026 | 41.00 | 0(0.00%) | 41 |
| 11-01-2026 | 41.00 | 0(0.00%) | 41 |
| 10-01-2026 | 41.00 | 0(0.00%) | 41 |
| 09-01-2026 | 41.00 | 0(0.00%) | 41 |
| 08-01-2026 | 41.00 | 0(0.00%) | 41 |
| 07-01-2026 | 41.00 | 0(0.00%) | 41 |
| 06-01-2026 | 41.00 | 0(0.00%) | 41 |
| 05-01-2026 | 41.00 | 0(0.00%) | 41 |
| 04-01-2026 | 41.00 | 0(0.00%) | 41 |
| 03-01-2026 | 41.00 | 0(0.00%) | 41 |
| 02-01-2026 | 41.00 | 0(0.00%) | 41 |
| 01-01-2026 | 41.00 | 0(%) | (%) |
Date14-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date13-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date12-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date11-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date10-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date09-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date08-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date07-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date06-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date05-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date04-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date03-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date02-01-2026
Price41.00
GMP0(0.00%)
Estimate List Price41
Date01-01-2026
Price41.00
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| IPO Open | Wed, Jan 7, 2026 |
| IPO Close | Fri, Jan 9, 2026 |
| Allotment | Mon, Jan 12, 2026 |
| Refund | Tue, Jan 13, 2026 |
| Credit of Shares | Tue, Jan 13, 2026 |
| Listing | Wed, Jan 14, 2026 |
IPO Open
Wed, Jan 7, 2026
IPO Close
Fri, Jan 9, 2026
Allotment
Mon, Jan 12, 2026
Refund
Tue, Jan 13, 2026
Credit of Shares
Tue, Jan 13, 2026
Listing
Wed, Jan 14, 2026
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 6,000 | ₹2,46,000 |
| Individual investors (Retail) (Max) | 2 | 6,000 | ₹2,46,000 |
| HNI (Min) | 3 | 9,000 | ₹3,69,000 |
ApplicationIndividual investors (Retail) (Min)
Lots2
Shares6,000
Amount₹2,46,000
ApplicationIndividual investors (Retail) (Max)
Lots2
Shares6,000
Amount₹2,46,000
ApplicationHNI (Min)
Lots3
Shares9,000
Amount₹3,69,000
Key Performance Indicator
| ROE | 42.10% |
| ROCE | 31.27% |
| Debt/Equity | 0.62 |
| RoNW | 42.11% |
| PAT Margin | 10.17% |
| EBITDA Margin | 15.32% |
| Price to Book Value | 4.32 |
ROE
42.10%
ROCE
31.27%
Debt/Equity
0.62
RoNW
42.11%
PAT Margin
10.17%
EBITDA Margin
15.32%
Price to Book Value
4.32
Peers Comparison
| Company Name | EPS (Basic) | NAV (₹ per share) | P/E (x) | RoNW (%) | Financial statements |
|---|---|---|---|---|---|
| Victory Electric Vehicles International Limited | 2.08 | 10.54 | 12.42 | 10.35 | |
| Wardwizard Innovations & Mobility Limited | 0.26 | 4.08 | 32.58 | 6.50 | |
| Tunwal E-motors Limited | 2.32 | 20.09 | 15.32 | 19.26 |
Company NameVictory Electric Vehicles International Limited
EPS (Basic)2.08
NAV (₹ per share)10.54
P/E (x)12.42
RoNW (%)10.35
Financial statements
Company NameWardwizard Innovations & Mobility Limited
EPS (Basic)0.26
NAV (₹ per share)4.08
P/E (x)32.58
RoNW (%)6.50
Financial statements
Company NameTunwal E-motors Limited
EPS (Basic)2.32
NAV (₹ per share)20.09
P/E (x)15.32
RoNW (%)19.26
Financial statements
IPO Reservation
| Market Maker Shares Offered | 4,23,000 (5.02%) |
| NII (HNI) Shares Offered | 40,02,000 (47.47%) |
| Retail Shares Offered | 40,05,000 (47.51%) |
| Total Shares Offered | 84,30,000 (100.00%) |
Market Maker Shares Offered
4,23,000 (5.02%)
NII (HNI) Shares Offered
40,02,000 (47.47%)
Retail Shares Offered
40,05,000 (47.51%)
Total Shares Offered
84,30,000 (100.00%)
Information about company
Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles.
The company provides sustainable and eco-friendly mobility solutions by offering a wide range of electric two-wheelers, three-wheelers, and commercial vehicles. Victory Electric Vehicles International Limited aims to contribute to the global shift towards green energy by promoting the adoption of electric transportation.
The company offers products ranging from E-rickshaws, E-Cargo/Loader E-rickshaws, Scooters, etc.
The 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 etc.
The company integrates advanced technologies into its vehicles, such as lithium-ion battery systems, efficient electric drivetrains, and smart connectivity features.
It caters to both domestic and international markets, striving to offer reliable performance, cost-effective ownership, and minimal environmental impact.
Victory Electric Vehicles International Limited envisions a cleaner and greener future, aligning its mission with global efforts to reduce carbon emissions and dependence on fossil fuels.
Competitive Strength:
Objectives of IPO
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Capital Expenditure 5.00 2 Working Capital Requirement 18.00 3 General Corporate Purposes 6.78
Disclaimer
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