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VICTORYEVSME / NSEListed
Victory Electric Vehicles International

Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles, offering sustainable mobility solutions through a range of electric two-wheelers, three-wheelers, and commercial vehicles. The company’s product portfolio includes E-rickshaws, E-Cargo/Loader E-rickshaws, scooters, and customized three-wheelers such as food and ice cream vehicles, integrating advanced technologies like lithium-ion battery systems, efficient electric drivetrains, and smart connectivity features. Serving both domestic and international markets, Victory Electric Vehicles focuses on reliable performance, cost-effective ownership, and minimal environmental impact, with a mission aligned to global efforts in promoting green energy, reducing carbon emissions, and decreasing dependence on fossil fuels.

₹41 - ₹411.02x sub
Listed Price₹34.45
Listing Gain-15.98%

IPO Schedule & Timeline

Fixed Price IPO
Open07 Jan 2026
Close09 Jan 2026
Allotment12 Jan 2026
Listing14 Jan 2026

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Market Maker4,23,000 shares
5.02%
HNI40,02,000 shares
47.47%
Retail40,05,000 shares
47.51%

Minimum Application Lots

Retail2 Lots (6,000 shares)
₹2,46,000
sHNI3 Lots (9,000 shares)
₹3,69,000

Company Promoters

Sanjay Kumar PopliSeema PopliPalak Popli

Company Background

Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles, offering sustainable mobility solutions through a range of electric two-wheelers, three-wheelers, and commercial vehicles. The company’s product portfolio includes E-rickshaws, E-Cargo/Loader E-rickshaws, scooters, and custo...

Lead Managers & Bankers

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Sep-25)₹16.9 Cr
Growth-67.6%
Revenue Trend (₹ in Crores)
0.020.040.060.0Mar-23Mar-24Mar-25Sep-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Sep-2516.901.6233.194.85
Mar-2551.065.1731.299.29
Mar-2448.764.8921.945.3
Mar-2352.140.7919.172.9

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Sep-252.0810.35%10.23%030.41
Mar-258.9342.10%31.72%12.410
Mar-2418.9570.19%44.78%00
Mar-235.7622.46%14.13%00

Peer Comparison & Valuation

Financial Performance

Wardwizard Innovations & Mobility Limited

NAV/Share (₹)4.08
RONW(%)6.50
EPS (Basic) (₹)0.26

Victory Electric Vehicles International Limited

NAV/Share (₹)10.54
RONW(%)10.35
EPS (Basic) (₹)2.08

Tunwal E-motors Limited

NAV/Share (₹)20.09
RONW(%)19.26
EPS (Basic) (₹)2.32

Valuation

Wardwizard Innovations & Mobility Limited

P/E(X)32.58
CMP* (₹)0
Face value (₹)1.00

Victory Electric Vehicles International Limited

P/E(X)12.42
CMP* (₹)0
Face value (₹)5.00

Tunwal E-motors Limited

P/E(X)15.32
CMP* (₹)0
Face value (₹)2.00

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Maashitla Securities Private Limited

Allotment Finalized
Allotment Date
12 Jan 2026
Official Status
Out / Finalized
Registrar
Maashitla Securities Private Limited
Listing Date
14 Jan 2026

Official Allotment Verification Links

Official Registrar Portal
Maashitla Securities Private Limited

Direct allotment verification on the official registrar portal appointed for Victory Electric Vehicles International. Check with PAN or Application No.

Check on Registrar Portal
Stock Exchange Portal
BSE India Investor Portal

Official Bombay Stock Exchange investor verification channel using Issue Name and PAN Number.

Check on BSE India

Allotment Schedule & Milestones

IST
1. Allotment Finalization12 Jan 2026Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date14 Jan 2026Trading commences on exchange

How to Check Victory Electric Vehicles International Allotment Online

1Open Portal

Click on the official registrar link or BSE portal button above.

2Select Company

Select Victory Electric Vehicles International from the issue drop-down list.

3Enter Details

Select PAN, Application No., or DP Client ID and type your details.

4View Allocation

Click Submit to check your allotted share count and status.

Prospectus & Official Filings

Allotment FAQs & Help

About Victory Electric Vehicles International IPO

Complete issue overview for Victory Electric Vehicles International (VICTORYEV) IPO. The issue features an equity share price band of ₹41 per share with a minimum retail lot size of 3000 Shares (minimum application amount of ₹1,23,000). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions