NSE List Price : ₹34.45

subscription

Category	Times
QIBs	0.00x
HNIs	0.38x
Retail	1.01x
Total : 1.02x

IPO Market Lot(s) Distribution

Application	Lot Size	Shares	Amount
Retail Minimum	2	6,000	₹246,000
Retail Maximum	2	6,000	₹246,000
S-HNI Minimum	3	9,000	₹369,000

About the Company

Victory Electric Vehicles International Limited, incorporated in October 2018, operates in the design, manufacturing, and distribution of electric vehicles. The company offers a wide range of products such as E-rickshaws, E-cargo/loader rickshaws, and electric scooters. In addition to standard models, it also develops customized electric three-wheelers tailored for specific applications, including food vending and ice-cream sales.

The company focuses on providing sustainable and environmentally friendly mobility solutions through its comprehensive portfolio of electric two-wheelers, three-wheelers, and commercial vehicles. Victory Electric Vehicles International Limited is committed to supporting the global transition toward green energy by encouraging the adoption of electric mobility. On the financial front, the company reported revenue of ?39.68 crore in FY 2024, with a Profit After Tax (PAT) of ?3.89 crore.

Company Financial Report

_{Amount ₹ in Crores}

Period Ended	Revenue	Expense	PAT	Assets
2023	₹52.14	₹51.04	₹0.79	₹19.17
2024	₹48.76	₹42.19	₹4.89	₹21.94
2025	₹51.06	₹44.05	₹5.17	₹31.29
September 2025	₹16.90	₹14.73	₹1.62	₹33.19

Company Promoter

Sanjay Kumar Popli

Seema

Palak Poply

Know before investing

• • Strengths

  Product Portfolio Expansion: The company intends to expand its electric vehicle offerings across multiple segments, including passenger three-wheelers, cargo three-wheelers, two-wheelers, and customizable L3 and L5 vehicles, allowing it to serve a broader customer base and capitalize on the rapidly growing EV market.

  Enhanced Distribution via Multi-Location Warehousing: To minimize delivery timelines and logistics costs, particularly for smaller dealers, the company plans to set up warehouses across multiple locations, thereby improving supply chain efficiency and dealer reach.

• • Risks

  Product Quality Issues and Recall Risk: Any defects, performance shortcomings, or failure of the company’s electric vehicles to meet stated specifications could result in adverse publicity, increased warranty expenses, product recalls, legal liabilities, and erosion of customer confidence, which may negatively impact revenue and brand value.

  Reliance on External Suppliers: The company is fully dependent on third-party suppliers and does not have long-term or exclusive supply arrangements. Any disruption, delay, or quality issues in the supply of raw materials could hinder production, raise costs, adversely affect market reputation, and impact financial results.

Objects of the Issue & Utilisation of proceeds

Capital Expenditure.
Working Capital Requirement.
General Corporate Purposes.

Company  Address

Victory Electric Vehicles International Limited
Plot no 6, Second Floor
A-5, Maa Bhagwati Apartment
Paschim Vihar
Phone:
Email: compliance@victoryevindia.com
Website: http://www.victoryevehilceindia.com/

IPO Registrar

Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@mashitla.com
Website: https://maashitla.com/allotment-status/public-issues

IPO Review

Avoid