| The initial public offer (IPO) of Victory Electric Vehicles International received bids for 22,05,000 shares as against 84,30,000 on offer, as per NSE data as of 17:00 hours on Wednesday (07 January 2026). The issue was subscribed 0.26 times.
The issue opened for bidding on Wednesday (07 January 2026) and it will close on Friday (09 January 2026). The price band of the IPO is fixed at Rs 41 per share. The minimum order quantity is 3,000 equity shares. The equity shares will list on NSE’s SME platform.
The IPO comprises fresh issue of 84,30,000 equity shares. The promoter and promoter group shareholding will dilute to 63.33% from 97.41% pre-issue.
About 4,23,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 80,07,000 equity shares.
The issue and the net issue will constitute 34.99% and 33.24%, respectively of the post issue paid-up equity share capital of the company.
The company intends to utilize the net proceeds for funding the capital expenditure of the company, funding the working capital requirement and general corporate purposes.
Victory Electric Vehicles is engaged in the manufacturing of electric vehicles, including electric rickshaws, passenger rickshaws, e-loaders, cargo rickshaws, and electric scooters. Its portfolio extends beyond conventional offerings to include customised e-three-wheelers catering to specific needs, such as food three-wheelers and ice cream three-wheelers. As of 30 September 2025, the company had 110 permanent employees.
The company recorded revenue from operations of Rs 16.81 crore and net profit of Rs 1.62 crore for the period ended 30 September 2025.
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