Victory Electric Vehicles IPO, NSE SME IPO, EV manufacturer India, Electric 2/3-Wheelers, January 2026 IPO
Latest Grey Market Premium & IPO Details
Victory Electric Vehicles IPO 2026 – Key Info & Highlights
Victory Electric Vehicles IPO (Jan 2026), listed on the NSE SME platform, debuted at ₹34.45 per share, marking a discounted listing against its issue price of ₹41. The company is a fast-growing Indian EV manufacturer focused on affordable electric 2-wheelers, 3-wheelers, and e-rickshaws, catering to the sustainable mobility segment.
📌 IPO Details
| Company Name | Victory Electric Vehicles IPO |
|---|---|
| Sector / Industry | Automobile / Electric Vehicles (EV) |
| IPO Open Date | 07-01-2026 |
| IPO Close Date | 09-01-2026 |
| Allotment Date | 12-01-2026 |
| Refund Date | 13-01-2026 |
| Share Credit Date | 13-01-2026 |
| Listing Date | 14-01-2026 |
| Price Band | ₹41 |
| Lot Size | 3000 Shares |
| Min Investment | ₹2,46,000 (2 Lots Price) |
| Total Issue Size | ₹34.56 Cr |
| Reserved for Market Maker | ₹1.73 Cr |
| Net Issue Size | ₹32.83 Cr |
| Fresh Issue | ₹32.83 Cr |
| OFS | ₹Not included Cr |
| IPO Listing At | NSE SME |
| Issue Type | Fixed Price Issue |
| Face Value | ₹5 Per Equity Share |
| Promoter Holding Pre IPO | 97.41 % |
| Promoter Holding Post IPO | 63.33% |
* All Dates are provisional
Quota Allocation
| Category | Allocation (%) |
|---|---|
| Retail Investors | 35% |
| QIB (Qualified Institutional Buyers) | 50% |
| HNI (High Net Worth Individuals) | 15% |
📈 Grey Market Premium (GMP) Day-wise Trend
| GMP Date | GMP Price | Trend | Estimated Listing Price | Estimated Profit* | Last Updated |
|---|---|---|---|---|---|
| 13-01-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 13-01-2026 23:41 |
| 12-01-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 12-01-2026 23:32 |
| 11-01-2026 | ₹0.00 | - | ₹0.00 | ₹0.00 | 11-01-2026 23:41 |
📝 About Victory Electric Vehicles
Victory Electric Vehicles International Ltd is a rapidly growing electric vehicle (EV) manufacturer in India, specializing in two-wheelers, three-wheelers, e-rickshaws, and electric cargo vehicles. The company focuses on affordable, eco-friendly, and low-maintenance EV solutions, catering to both individual consumers and commercial enterprises. With a strong emphasis on customized electric mobility solutions, advanced technology adoption, and alignment with India’s green mobility initiatives, Victory Electric Vehicles is positioned to become a leader in the sustainable transportation sector.
The company boasts a geographical presence across 12 states, with dealers in every state, ensuring widespread accessibility and market reach. Backed by experienced leadership and a skilled professional team, Victory Electric Vehicles combines strategic vision with operational expertise. Its robust financial performance, expanding manufacturing capacity, and extensive distribution network enable the company to efficiently meet the rising demand for electric mobility in India.
With a commitment to innovation, sustainability, and customer-centric solutions, Victory Electric Vehicles offers investors in the NSE SME IPO a unique opportunity to participate in the fast-growing Indian electric vehicle market.
Victory Electric Vehicles Revised Financials
Profit / Loss & Total Assets (Last 3 Years)
| Financial Year | Revenue (₹ Cr) | Profit / Loss (₹ Cr) | Total Assets (₹ Cr) |
|---|---|---|---|
| FY 2022–23 | 52.14 | +0.79 | 19.17 |
| FY 2023–24 | 48.76 | +4.89 | 21.94 |
| FY 2024–25 | 51.06 | +5.17 | 31.29 |
Note: Positive figures indicate profit, while negative figures indicate loss. Total Assets are reported in ₹ Cr.
IPO Objects of Issue – How Victory Electric Vehicles Will Utilize Funds
- A portion of the proceeds will be utilized to meet the company’s incremental working capital requirements.
- The company intends to enhance and expand its manufacturing and assembly capacity to cater to the growing demand for electric vehicles.
- The company plans to invest in developing new EV models, variants, and customized electric mobility solutions.
- The proceeds will be used to strengthen the sales, dealership, and service network across key regions.
- The remaining proceeds will be utilized for general corporate purposes to support overall business growth.
Victory Electric Vehicles Strengths – Innovative Electric Vehicle Solutions
- Multi-Segment EV Portfolio – Offers electric two-wheelers, three-wheelers, e-rickshaws, and cargo vehicles catering to diverse customer needs.
- Cost-Efficient & Practical Solutions – Focused on affordable, low-maintenance EVs suitable for the price-sensitive Indian market.
- Customization Capability – Designs commercial EVs for delivery, food vending, and utility applications, providing a competitive edge.
- Experienced Promoters & Management – Team has practical industry experience in electric mobility and automobile operations.
- Aligned with Green Mobility Goals – Business model supports India’s sustainable transport and clean energy initiatives, fostering long-term growth.
Key Risks of Victory Electric Vehicles IPO – Market, Regulatory & Operational Challenges
- EV Market Volatility – Fluctuations in the electric vehicle sector demand or consumer preferences may affect revenues and growth.
- Regulatory & Policy Risk – Changes in government incentives, EV regulations, or import/export policies could impact operations.
- Financial Sustainability Risk – Limited working capital or high funding requirements may create financial constraints.
- Operational & Supply Chain Risk – Delays in raw material procurement or production disruptions can affect delivery timelines and profitability.
- Competition Risk – Increasing competition from established EV manufacturers and startups may impact market share and pricing power.
Victory Electric Vehicles International Ltd
Emerging EV manufacturer focusing on sustainable & affordable electric mobility
| Founded in: | As per RHP (Year not prominently disclosed) |
|---|---|
| MD / CEO: | As per Red Herring Prospectus (RHP) |
| Address: | Plot no 6, Second Floor A-5, Maa Bhagwati Apartment Paschim Vihar West Delhi, New Delhi-110063 |
| Website: | http://www.victoryevehilceindia.com/ |
| Phone: | 9643108966 |
| Email: | compliance@victoryevindia.com |
| Services: | Manufacturing and sale of electric two-wheelers, three-wheelers, e-rickshaws, electric cargo & loader vehicles, and customized commercial EV solutions. |
IPO Quick Info
07 Jan 2026
09 Jan 2026
Upcoming
Lead Manager(s)
- Corpwis Advisors Pvt.Ltd.
Frequently Asked Questions
The Victory Electric Vehicles International Ltd IPO is an NSE SME IPO offering shares of the company to investors. The IPO opens on 7 January 2026 and closes on 9 January 2026, with a fixed price of ₹41 per share.