Victory Electric Vehicles IPO
Market Sentiment
IPO Details
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Financial Analysis
| Metric | 2023 | 2024 | 2025 | September 2025 |
|---|---|---|---|---|
| Revenue | 52.14 | 48.76 | 51.06 | 16.90 |
| Expense | 51.04 | 42.19 | 44.05 | 14.73 |
| Profit (PAT) | 0.79 | 4.89 | 5.17 | 1.62 |
| Total Assets | 19.17 | 21.94 | 31.29 | 33.19 |
| Company | EPS | P/E | Market Cap (Cr) |
|---|---|---|---|
| Wardwizard Innovations & Mobilitity Limited | 0.26 | 32.58 | 7 |
| Tunwal E-Motors Limited | 2.32 | 15.32 | 19 |
Promoters: Sanjay Kumar Popli, Seema and Palak Poply
| Shareholding | No. of Shares | Holding % |
|---|---|---|
| Promoter Holding Pre Issue | 1,56,60,000 | 97.41% |
| Promoter Holding Post Issue | 2,40,90,000 | 63.33% |
Strengths & Risks
- Solid profit margin — 10.1%.
- Strong return on equity — 42%.
No major red flags in the available data.
Auto-generated from live GMP, subscription, valuation and financial data. Informational only — not investment advice. Always read the RHP before applying.
Company Information
Victory Electric Vehicles International Limited is involved in the design, production, and distribution of electric vehicles. Moreover, it was incorporated in October 2018. The company provides a diverse range of products, including E-rickshaws, E-Cargo/Loader E-rickshaws, and electric scooters. The company’s portfolio is beyond expectations, as they offered customized E-Three wheelers for specific purposes like food vending and ice cream sales. The company delivers eco-friendly and sustainable transportation solutions through its extensive lineup 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. Financially, the revenue 2024 of Victory Electric Vehicles was 39.68 crore, and PAT(profit After Tax) was 3.89 crore.
| Purpose | Amount (Cr) |
|---|---|
| Capital Expenditure | 5.00 |
| Working Capital Requirement | 18.00 |
| General Corporate Purposes | 6.78 |
Resources & Documents
Victory Electric Vehicles International Limited, Plot no 6, Second Floor, A-5, Maa Bhagwati Apartment, Paschim Vihar
Victory Electric Vehicles has set a price band of Rs 39–Rs 41 per share in the electric vehicles sector. The stock listed with a 20.12% discount versus its issue price on January 14, 2026.
Victory Electric Vehicles International Limited is involved in the design, production, and distribution of electric vehicles. Moreover, it was incorporated in October 2018. The company operates in the electric vehicles space.
The issue is promoted by Sanjay Kumar Popli, Seema and Palak Poply with Corpwis Advisors Private Limited acting as lead manager. Net proceeds will primarily be used towards Capital Expenditure (Rs 5 crore) and Working Capital Requirement (Rs 18 crore).
Current grey market activity shows a flat premium, indicating muted unofficial demand. Final subscription data records overall subscription at 1.00x, retail at 0.99x, NII at 0.38x.
At the upper end of the price band, the issue is priced at a post-issue P/E of 12.42x. On fundamentals, the company is posting revenue growth of 4.7%, a profit margin of 10.1%, return on equity of 42.1% in its most recent reported period. Listed peers in this segment include Tunwal E-Motors Limited (P/E 15.32x, market cap Rs 19 crore) and Wardwizard Innovations & Mobilitity Limited (P/E 32.58x, market cap Rs 7 crore) — useful reference points when evaluating the issue's pricing relative to where the broader sector are trading.
Our data-driven engine currently flags this issue as a Neutral stance — the data is mixed and the risk-reward is balanced rather than one-sided. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Victory Electric Vehicles IPO GMP — What It Means
The latest grey market premium for Victory Electric Vehicles IPO is ₹0 (+0.0%). GMP is an unofficial, dealer-quoted figure that hints at expected listing-day demand — it is not a guaranteed listing price. For Victory Electric Vehicles it should be read alongside the subscription numbers and the company's fundamentals, since grey-market premiums can swing sharply during the bidding window.
See the full Victory Electric Vehicles GMP history and trend, or learn how grey market premium works and how reliable it is.
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