Victory Electric Vehicles International Limited IPO
Victory Electric Vehicles International Limited IPO
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Victory Electric Vehicles International Limited's successfully completed its Initial Public Offering and commenced trading on 14-01-2026 at the NSE exchange. The company raised 84,30,000 Shares through this public offering, comprising 84,30,000 Shares in fresh capital.
The IPO was priced within the band of ₹41 to ₹41, with minimum application lots of 3000 shares. The offering attracted significant investor interest during its subscription period from 07-01-2026 to 09-01-2026.
Share allotment was finalized on 12-01-2026, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Victory Electric IPO About Company
Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles, offering sustainable mobility solutions through a range of electric two-wheelers, three-wheelers, and commercial vehicles. The company’s product portfolio includes E-rickshaws, E-Cargo/Loader E-rickshaws, scooters, and customized three-wheelers such as food and ice cream vehicles, integrating advanced technologies like lithium-ion battery systems, efficient electric drivetrains, and smart connectivity features. Serving both domestic and international markets, Victory Electric Vehicles focuses on reliable performance, cost-effective ownership, and minimal environmental impact, with a mission aligned to global efforts in promoting green energy, reducing carbon emissions, and decreasing dependence on fossil fuels.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Victory Electric IPO Strength Factors
- Expanding Product Portfolio: Plans to offer EVs across multiple segments, including 2-wheelers, 3-wheelers, and customizable L3 & L5 models.
- Improved Distribution Network: Setting up multi-location warehouses to reduce delivery time and logistics costs.
- Charging Infrastructure Development: Plans to establish EV charging stations across India to support customers and boost EV adoption.
Victory Electric IPO Risk Factors
- Risk of Product Defects: Any quality issues or underperformance may lead to recalls, legal costs, and damage to brand reputation.
- Dependence on Third-Party Suppliers: Relies fully on external suppliers, making operations vulnerable to supply delays or defects.
- Limited Supplier Base: Regulatory requirements restrict supplier options, increasing the risk of operational disruptions.
Victory Electric IPO Lead Manager(s)
- Corpwis Advisors Private Limited
Victory Electric IPO Promoter(s)
- Sanjay Kumar Popli
- Seema Popli
- Palak Popli
Victory Electric IPO FAQs
Victory Electric Vehicles International Limited IPO subscribed 1.02 times. The public issue subscribed 1.01 times in the retail category,--times in QIB, and -- times in the HNI (10+) category byJanuary 14, 2026 4:15:00 AM (Day 14).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Victory Electric IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Victory Electric IPO FAQs
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The basis of allotment for Victory Electric Vehicles International Limited IPO is available now.
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If you have any concerns or queries about the allotment status, contact Kfin Technologies Limited either by phone or email. Investors can call on or send an email with all relevant details to .