Victory Electric Vehicles IPO with ₹40.66 Cr Issue

Published On: 18/05/20251.6 min read

Victory Electric Vehicles International Ltd is set to launch its Initial Public Offering (IPO) on May 20, 2025, marking a significant step in India’s electric vehicle (EV) sector. This IPO offers investors an opportunity to participate in the growth of a company specializing in sustainable mobility solutions.

Company Overview

Established in 2018, Victory Electric Vehicles International Ltd designs, manufactures, and distributes a range of electric vehicles, including:

  • Electric Rickshaws
  • Passenger Rickshaws
  • E-Loaders
  • Cargo Rickshaws
  • Electric Scooters
  • Customized E-Three Wheelers (e.g., Food and Ice Cream Three Wheelers)

The company integrates advanced technologies like lithium-ion battery systems and smart connectivity features, catering to both domestic and international markets.

IPO Timeline

  • IPO Open Date: May 20, 2025
  • IPO Close Date: May 23, 2025
  • Allotment Finalization: May 27, 2025
  • Refund Initiation: May 27, 2025
  • Credit of Shares: May 27, 2025
  • Listing Date: May 28, 2025

IPO Price Band

  • Issue Price: ₹72 per share
  • Face Value: ₹5 per share
  • Minimum Investment: ₹115,200 (1 lot of 1,600 shares)

Lot Size

  • Lot Size: 1,600 shares
  • Minimum Investment Amount: ₹115,200

Key Dates

  • IPO Opening Date: May 20, 2025
  • IPO Closing Date: May 23, 2025
  • Listing Date: May 28, 2025

Financials

Financial Year Revenue (₹ Cr) EBITDA (₹ Cr) PAT (₹ Cr) Total Assets (₹ Cr) Share Capital (₹ Cr) Total Borrowings (₹ Cr)
FY21 1.17 1.43 0.65 18.34 1.37 10.84
FY22 1.42 1.75 0.79 16.82 2.04 13.08
FY23 6.85 7.13 4.89 20.21 2.61 11.20

Strengths

  • Diverse Product Portfolio
  • Technological Integration with Lithium-ion and Smart Features
  • Presence in 12 Indian States
  • Experienced Management

Risks

  • Intense Market Competition
  • Supply Chain Dependencies
  • Regulatory Changes in EV Policy
  • Risk of Technological Obsolescence

IPO Anchor Investors Details

No anchor investor details have been disclosed as of now.

IPO Promoter Holding Details

Promoter Name Pre-Issue Holding (%) Post-Issue Holding (%)
Sanjay Kumar Popli 97.41% 71.60%
Seema – –
Palak Poply – –

IPO Grey Market Premium (GMP)

Date GMP (₹)
Data not available –

Final Thoughts

Victory Electric Vehicles International Ltd’s IPO offers a strategic opportunity for investors interested in India’s green mobility transition. The company’s upward financial trajectory, wide product portfolio, and strong presence are positive indicators. However, due diligence is necessary given the risks in the evolving EV space.

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