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VICTORYEV · NSE · Electric Vehicles
Victory Electric Vehicles IPO listed on 14 Jan 2026 on NSE at ₹34.45, a loss of 23.44% over the issue price of ₹45.00. The IPO was subscribed 0.95x overall.
Victory Electric Vehicles IPO tentative timeline covering IPO opening, closing, basis of allotment, refunds, demat credit, and listing dates.
| Event | Date |
|---|---|
| IPO Open Date | 07 Jan 2026 |
| IPO Close Date | 09 Jan 2026 |
| Basis of Allotment | 12 Jan 2026 |
| Initiation of Refunds | 13 Jan 2026 |
| Credit of Shares to Demat | 13 Jan 2026 |
| Listing Date | 14 Jan 2026 |
Listing day gain
-23.44%
Listed at ₹34.45 (issue ₹45)
Issue
₹45
Listing
₹34.45
Current
₹32.75
-27.22% vs issue
Day range
₹32.75 – ₹34.45
Issue Size
8,430,000 shares
(aggregating up to ₹35.00 Cr)
Issue Price
₹45 – ₹45
Face Value
₹5/share
Market Lot
3,000 shares
Retail Min Investment
₹270,000
Listing At
NSE
Sale Type
fresh issue
Fresh Issue
[.]
Offer for Sale
[.]
Reserved for Market Maker
423,000 shares
(aggregating up to ₹1.90 Cr)
Issue Type
fixed price
Open Date
07 Jan
Close Date
09 Jan
Allotment
12 Jan
Listing
14 Jan
Last updated: 8 months ago
| Date | IPO Issue Price (₹) | GMP (₹) | Est. Listing Price (₹) | Est. Profit Amount (₹) | Est. Profit % | Last Updated |
|---|---|---|---|---|---|---|
| 13 Jan 2026 Latest | ₹45 | ₹0 | ₹45 | ₹0 |
0%
|
5:07 PM |
| 12 Jan 2026 | ₹45 | ₹0 | ₹45 | ₹0 |
0%
|
5:07 PM |
Showing the 2 most recent GMP entries.
View full GMP historyLatest snapshot: 13 Jan 2026
| Category | Subscribed (x) | No. of Applications |
|---|---|---|
| NII | 0.91x | - |
| Retail Investors | 0.99x | - |
| Total | 0.95x | - |
Showing the latest subscription snapshot.
View full subscription historyThe promoters of the company Sanjay Kumar Popli, Seema and Palak Poply.
New to lot sizes and investment limits? Read our guide on IPO lot size and minimum investment.
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 2 | 6,000 | ₹270,000 |
| Retail (Max) | 2 | 6,000 | ₹270,000 |
| S-HNI (Min) | 3 | 9,000 | ₹405,000 |
| S-HNI (Max) | 7 | 21,000 | ₹945,000 |
| B-HNI (Min) | 8 | 24,000 | ₹1,080,000 |
Want to understand how IPO shares are divided between investor categories? Read our guide on IPO reservation structure.
| Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 423,000 (5.02%) |
| NII (HNI) Shares Offered | 4,002,000 (47.47%) |
| Retail Shares Offered | 4,005,000 (47.51%) |
| Total Shares Offered | 8,430,000 (100.00%) |
Victory Electric Vehicles International Limited is engaged in the design, manufacturing, and distribution of electric vehicles such as:
Growth and Key Stengths:
Victory Electric Vehicles International Limited operates in India’s rapidly growing electric mobility segment, focusing mainly on electric three-wheelers and utility EVs. The company has built a diversified product portfolio including e-rickshaws, e-loaders, L5 autos, and customized electric vehicles for commercial use. It has shown steady revenue growth driven by rising demand for affordable and eco-friendly transportation solutions. Victory EV has expanded its dealer and service network across multiple states, improving market reach and customer support. The company benefits from strong demand in last-mile connectivity and commercial transport segments. Its focus on cost-effective manufacturing helps maintain competitive pricing. Alignment with government EV policies and sustainability initiatives supports long-term growth. Experienced management and operational expertise strengthen execution capabilities. Product customization for niche applications adds a competitive edge. Overall, Victory EV is well-positioned to benefit from India’s accelerating electric vehicle adoption.
Standalone · ₹ in Crores
| Particulars | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|
| Total Revenue | 52.14 | 48.76 | 51.06 |
| Profit After Tax (PAT) | 0.79 | 4.89 | 5.17 |
| EBITDA | 1.8 | 6.99 | 7.79 |
| Total Assets | 19.17 | 21.94 | 31.29 |
| Net Worth | 4.24 | 9.7 | 14.87 |
| Reserves & Surplus | 2.2 | 7.09 | 7.04 |
| Total Borrowing | 2.9 | 5.3 | 9.29 |
Revenue & Profit Trend
The basis of allotment for Victory Electric Vehicles IPO was finalised on 12 Jan 2026. You can check your allotment status using your PAN number or application number on the Maashitla Securities Pvt. ltd. portal or BSE.
The Victory Electric Vehicles IPO is expected to open in Jan 2026, subject to SEBI approval. Final dates will be updated once announced officially.
The price band for Victory Electric Vehicles IPO is ₹45.00 - ₹45.00 per share.
As per market sources, Victory Electric Vehicles IPO GMP is currently ₹0.00. GMP is tracked daily in the grey market. GMP indicates unofficial demand but does not guarantee listing gains.
The subscription status for Victory Electric Vehicles IPO stands at 0.95x overall.
The listing date for Victory Electric Vehicles IPO is 14 Jan 2026.
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