Victory Electric Vehicles IPO
Market Sentiment
IPO Details
IPO Reservation
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%.
- Lists on the exchange's SME platform, where trading is usually thinner than on the main board — selling at your price can be harder.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. 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.
Victory Electric Vehicles International Limited, Plot no 6, Second Floor, A-5, Maa Bhagwati Apartment, Paschim Vihar
| Purpose | Amount (Cr) |
|---|---|
| Capital Expenditure | 5.00 |
| Working Capital Requirement | 18.00 |
| General Corporate Purposes | 6.78 |
Resources & Documents
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).
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.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. 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
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed.
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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