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Victory Electric Vehicles IPO opens on May 20: Here's all you need to know
Victory Electric Vehicles International IPO: The initial public offering (IPO) of Victory Electric Vehicles International will open for subscription on Tuesday, May 20, 2025. The Delhi-based company aims to raise ₹40.66 crore through a fresh issue of 5.64 million equity shares. There is no offer for sale (OFS) component. The company has reserved not less than 50 per cent of the issue for retail individual investors and not more than 50 per cent for non-institutional investors.
The company has fixed the issue price at ₹72 per equity share. The minimum lot size for an application is 1,600 shares. A retail investor would require a minimum investment amount of ₹1,15,200 to bid for one lot. High net-worth individuals can bid for a minimum of two lots for ₹2,30,400.
According to the red herring prospectus (RHP), the four-day subscription window will tentatively close on Friday, May 23, 2025. The basis of allotment of shares will be finalised on or before Tuesday, May 27, 2025. Shares of Victory Electric Vehicles International will list on the NSE SME platform tentatively on Wednesday, May 28, 2025.
Victory Electric Vehicles International registrar, lead manager
Maashitla Securities serves as the registrar of the issue. Corpwis Advisors is the sole book-running lead manager.
Victory Electric Vehicles International IPO objective
According to the RHP, the company plans to utilise ₹5 crore from the net issue proceeds for working expenditure and ₹22 crore to meet working capital requirements. The remaining ₹7.54 crore will be used for general corporate purposes.
About Victory Electric Vehicles International
Incorporated in October 2018, Victory Electric Vehicles International is involved in the manufacturing of electric vehicles, including electric rickshaws, passenger rickshaws, e-loaders, cargo rickshaws, and electric scooters. It also manufactures customised e-three-wheelers, catering to specific needs such as food three-wheelers and ice cream three-wheelers. The company has a presence in several states, including Uttar Pradesh, Rajasthan, Haryana, Bihar, Madhya Pradesh, Jharkhand, Delhi, Chandigarh, Uttarakhand, Jammu & Kashmir, Gujarat and Maharashtra.
Victory Electric Vehicles International financial overview
For the nine months ended December 31, 2024, the company reported revenue from operations of ₹39.5 crore and a profit after tax (PAT) of ₹3.9 crore. In the financial year 2023-24 (FY24), Victory Electric reported revenue from operations of ₹48.44 crore, down 6.7 per cent from ₹51.9 crore in the previous fiscal. Its PAT stood at ₹4.9 crore in FY24 as against ₹78.8 lakhs in FY23.
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