How to Apply for the Victory Electric Vehicles International IPO: Step-by-Step Investment Guide

    Victory Electric Vehicles International Limited operates in the electric vehicle manufacturing segment, with activities covering the design, manufacturing, and distribution of electric two-wheelers, three-wheelers, and selected commercial electric vehicles. Its product portfolio includes electric rickshaws, passenger and cargo three-wheelers, e-loaders, electric scooters, and customised electric vehicles developed for specific commercial applications. The company’s operations are aligned with the evolving electric mobility ecosystem, serving domestic and international markets through a dealer-based distribution network.

    Applicants who wish to participate in the Victory Electric Vehicles International IPO can apply through an authorised trading platform or by using the ASBA facility provided by their banking institution. The application process generally involves logging into the trading or banking application, navigating to the IPO section, selecting the Victory Electric Vehicles International IPO, entering the required lot quantity within the specified price band, and authorising the payment mandate through UPI or bank authentication. After submission, the application proceeds through exchange-regulated verification and allotment procedures, which determine the final allocation status. 

    For more details, visit the Victory Electric Vehicles International IPO page.

    Victory Electric Vehicles International IPO Details and Objectives

    Details

    Information

    IPO Date

    January 7, 2026 to January 9, 2026

    Issue Size

    84,30,000 shares (agg. up to ₹34.56 Cr)

    Price Band

    ₹41 per share

    Lot Size

    3000 shares

    Listing At

    NSE, SME

    Market Maker

    Alacrity Securities Ltd.

    Purpose of the IPO

    • Funding the capital expenditure of the company

    • Funding the working capital requirement of the Company

    • General corporate purposes

    Timeline of Victory Electric Vehicles International IPO

    Event

    Date

    IPO Open Date

    Wed, Jan 7, 2026

    IPO Close Date

    Fri, Jan 9, 2026

    Tentative Allotment

    Mon, Jan 12, 2026

    Initiation of Refunds

    Tue, Jan 13, 2026

    Credit of Shares to Demat

    Tue, Jan 13, 2026

    Tentative Listing Date

    Wed, Jan 14, 2026

    Pricing & Lot Size of Victory Electric Vehicles International IPO

     

    Price Band for the IPO

    •  ₹41 per share

     

    Minimum Lot Size and Application Details

    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

    Victory Electric Vehicles International IPO Application Process

    The Victory Electric Vehicles International IPO application process can be completed online through your trading platform. Below is a step-by-step guide to applying for the IPO:

    Step 1: Login to Your Trading Platform

    Access your trading account using the broker's app or website.

    Step 2: Navigate to the IPO Section

    Go to the IPO section to view active IPO listings.

    Step 3: Select the Open IPO and Click Apply

    Locate Victory Electric Vehicles International IPO in the list of available IPOs and click the ‘Apply’ button.

    Step 4: Enter the Quantity of Shares You Wish to Apply For

    Specify the number of shares (lot size: 3,000 shares) within the price of ₹41 per share.

     

    Step 5: Provide Your UPI ID

    Enter your UPI ID for payment authorisation and ensure sufficient funds in your bank account.

    Step 6: Confirm the Application

    Review your application details and confirm the UPI mandate before 5 PM on the last application day.

    Step 7: Complete the Process and Wait for Allotment

    Submit the application and monitor the allotment status to check if shares have been allocated to you.

    Shares Offered in Victory Electric Vehicles International IPO

    Victory Electric Vehicles International Limited IPO comprises a public issue of equity shares allocated across different investor categories, including retail investors, other eligible investors, and the market maker. The allocation is structured in accordance with applicable regulations and outlines the distribution of shares and corresponding issue size across categories.

    Category

    Shares Offered

    Amount (₹ crore)

    Size (%)

    Market Maker

    4,23,000

    1.73

    5.02%

    Other*

    40,02,000

    16.41

    47.47%

    Retail

    40,05,000

    16.42

    47.51%

    Total

    84,30,000

    34.56

    100%

    *Other category includes applicants other than retail investors, such as non-institutional investors, corporates, and institutions.

    Financial Health and Performance

     

    Key Financial Metrics

    • Total Assets: Increased from ₹21.94 crore as of 31 March 2024 to ₹31.29 crore as of 31 March 2025.

    • Total Income: Stood at ₹51.06 crore in FY25, as compared to ₹48.76 crore in FY24.

    • Profit After Tax (PAT): Recorded at ₹5.17 crore in FY25, compared with ₹4.89 crore in FY24.

    • Net Worth: Reported at ₹14.87 crore as of 31 March 2025, in comparison to ₹9.70 crore as of 31 March 2024.

    • Reserves and Surplus: Stood at ₹7.04 crore in FY25, as against ₹7.09 crore in FY24.

    • EBITDA: Reported at ₹7.79 crore in FY25, compared with ₹6.99 crore in FY24.

    Recent Performance and Growth Prospects

    • The company’s total asset base increased between FY24 and FY25, indicating an expansion in balance sheet size and a broader operational scale during the reviewed period.

    • Total income showed an upward movement in FY25 compared to FY24, reflecting higher revenue generation during the financial year under review.

    • Profit after tax recorded a year-on-year increase in FY25, pointing to an improvement in net earnings compared with the previous financial year.

    • Net worth rose as of 31 March 2025 when compared to 31 March 2024, suggesting an increase in shareholders’ equity over the period.

    • Reserves and surplus remained largely stable across FY24 and FY25, indicating limited change in retained earnings during the period.

    • EBITDA increased in FY25 compared to FY24, reflecting changes in operating performance and core business profitability during the financial year.

    Investment Risks and Opportunities

    Potential Risks of Investing in the IPO

    • The company operates in the electric vehicle segment, where business performance may be influenced by changes in government policies, incentive structures, and regulatory requirements related to electric mobility.

    • Demand for electric vehicles can vary based on infrastructure availability, consumer adoption trends, and cost considerations, which may affect sales volumes across different periods.

    • The company’s financial performance is linked to its ability to manage production, supply chains, and working capital efficiently, and any disruption in these areas could impact operations.

    • Competition within the electric vehicle and last-mile mobility segment may influence pricing, market share, and distribution reach, potentially affecting revenue growth.

    Opportunities and Growth Potential

    • The company operates within the electric vehicle ecosystem, which is aligned with the broader shift towards alternative mobility and reduced reliance on conventional fuel-based transportation.

    • Its product portfolio, which includes electric rickshaws, cargo vehicles, and customised electric three-wheelers, allows participation across multiple use cases such as passenger transport and commercial applications.

    • Expansion of dealer networks and presence across multiple states provides scope to access a wider customer base within domestic markets.

    • Ongoing developments in battery technology, charging infrastructure, and electric drivetrain systems may support continued adoption of electric vehicles across relevant segments.

    Key Performance Indicator (KPI)

    KPI

    Values

    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

    Victory Electric Vehicles International IPO Registrar & Lead Managers

    Registrar

    Lead Manager(s)

    Maashitla Securities Pvt.Ltd.

    Corpwis Advisors Pvt.Ltd.

    Company Address of Victory Electric Vehicles International Limited

    Victory Electric Vehicles International Ltd. Plot no 6, Second Floor A-5, Maa Bhagwati Apartment Paschim Vihar West Delhi, New Delhi, 110063

    Phone: 9643108966

    Email: compliance@victoryevindia.com

    Website: https://victoryevindia.com/

    Conclusion

    Victory Electric Vehicles International Limited operates in the electric vehicle manufacturing segment, with activities covering the design, production, and distribution of electric two-wheelers, three-wheelers, and selected commercial vehicles. Its product range includes passenger and cargo electric rickshaws, e-loaders, electric scooters, and customised electric three-wheelers developed for specific commercial applications. The company’s operations are positioned within the evolving electric mobility ecosystem, influenced by policy initiatives, infrastructure development, and adoption of alternative transportation solutions. The IPO outlines the proposed utilisation of funds towards business requirements such as capital expenditure, working capital, and general corporate purposes, along with the defined issue structure and allocation process.

    Applicants may apply for the IPO through authorised trading platforms or via the ASBA facility offered by eligible banks. The application process typically involves selecting the IPO, entering the bid quantity, confirming payment through UPI or bank mandate, and submitting the application within the specified timelines. Post submission, applications are processed through exchange-led verification and allotment procedures, which determine the final allocation status.

    Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your Victory Electric Vehicles International IPO allotment status.

    Frequently Asked Questions

    Published Date : 05 Jan 2026

    Disclaimer :

    Investments in the securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.


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    Content Partner - Dalal Street Investment Journal Wealth Advisory Private Limited



    This article is for educational purposes only and should not be considered investment advice. Market investments are subject to risks. DSIJ Wealth Advisory Private Limited is a SEBI-registered Research Analyst (Reg. No: INH000006396) and Investment Adviser (Reg. No: INA000001142). Please consult your financial adviser before investing. 

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