Victory Electric Vehicles IPO
IPO Details
Victory Electric Vehicles IPO is a bookbuilding of ₹40.66 Crore. The issue is entirely a fresh issue of ₹40.66 Crore and an offer for sale of Nil.
Victory Electric Vehicles IPO opens for subscription on 2025-06-20 and closes on 2025-06-23. The allotment is expected to be finalized on 2025-06-27. The IPO will be listed on BSE, NSE with tentative listing date as 2025-06-28.
Price band is set at ₹72 to ₹72 per share. The minimum lot size for application is 1600 shares (₹115200). It is suggested to bid at the cutoff price to avoid oversubscription, which is about ₹115200.
IPO Timeline
Company Overview
Victory Electric Vehicles IPO Details
Victory Electric Vehicles International Limited is an electric vehicle manufacturer specializing in eco-friendly transportation solutions. Established in October 2018, the company offers a diverse range of products, including E-rickshaws, E-Cargo/Loader E-rickshaws, and electric scooters. They also provide customized E-Three wheelers for specific purposes like food vending and ice cream sales.
Company Overview
Victory Electric Vehicles aims to contribute to the global shift towards green energy by promoting the adoption of electric transportation. Their product lineup includes electric two-wheelers, three-wheelers, and commercial vehicles, catering to the growing demand for sustainable mobility solutions.
Financial Performance
| Particulars | FY 2022 | FY 2023 | FY 2024 | Dec 2024 |
|---|---|---|---|---|
| Revenue (₹ Cr) | 48.14 | 52.14 | 48.76 | 39.68 |
| Profit After Tax (₹ Cr) | 0.65 | 0.79 | 4.89 | 3.89 |
| Assets (₹ Cr) | 20.82 | 19.17 | 21.94 | 37.55 |
Note: Detailed information on Net Worth, Reserves & Surplus, and Total Borrowings is not available.
IPO Details
- Issue Size: ₹40.66 Crore
- Fresh Issue: ₹40.66 Crore
- Offer for Sale: Nil
- Price Band: ₹72 per share
- Lot Size: 1600 shares
- Minimum Investment: ₹1,15,200
- Listing On: NSE SME
IPO Objectives
The proceeds from the IPO will be utilized for:
- Funding working capital requirements
- General corporate purposes
Subscription Details
| Category | Allocation | Subscription |
|---|---|---|
| QIB | 0% | N/A |
| NII | 50% | N/A |
| Retail | 50% | N/A |
| Total | 100% | N/A |
Key Strengths
- Diverse product portfolio catering to various segments of electric vehicles
- Focus on eco-friendly and sustainable transportation solutions
- Customized offerings for specific commercial applications
- Positioned in a growing industry with increasing demand for electric mobility
Risk Factors
- Limited operational history since incorporation in 2018
- Dependence on the adoption rate of electric vehicles in India
- Exposure to technological advancements and competition in the EV sector
- Regulatory changes affecting the electric vehicle industry
Lead Managers
- Corpwis Advisors Private Limited
Registrar
- Maashitla Securities Private Limited
GMP Trends
As of now, there is no active Grey Market Premium (GMP) for Victory Electric Vehicles IPO, indicating a neutral market sentiment.
Expert Opinion
Analysts suggest that Victory Electric Vehicles operates in a promising sector with significant growth potential. However, investors should consider the company’s limited track record and the competitive nature of the EV industry. A long-term investment perspective may be suitable for those looking to participate in the green mobility revolution.
Disclaimer: Investors are advised to read the Red Herring Prospectus (RHP) and consult financial advisors before making investment decisions.
Business Segments
Information about business segments will be available soon.
Financial Performance
| Particulars | FY 2022 | FY 2023 | FY 2024 | FY Dec 2024 |
|---|---|---|---|---|
| assets | ₹20.82 Cr | ₹19.17 Cr | ₹21.94 Cr | ₹37.55 Cr |
| net worth | ||||
| pat | ₹0.65 Cr | ₹0.79 Cr | ₹4.89 Cr | ₹3.89 Cr |
| reserves and surplus | ||||
| revenue | ₹48.14 Cr | ₹52.14 Cr | ₹48.76 Cr | ₹39.68 Cr |
| total borrowing |
Additional Information
The proceeds from the IPO will be used for:
- Expansion of manufacturing facilities
- Debt repayment
- General corporate purposes
Information about key strengths will be available soon.
Information about risk factors will be available soon.
| Category | Allocation | Subscription |
|---|---|---|
| QIB | 0% | N/A |
| NII | 50% | N/A |
| Retail | 50% | N/A |
| Total | 100% | N/A |
Industry analysts are positive about the company's growth prospects given its strong financial performance, diversified product portfolio, and expansion plans. The IPO is expected to receive good response from investors looking for exposure to the sector.
Grey Market Premium
*Expected Premium is derived from market rumors. It is not a guaranteed indicator of the actual listing price.
IPO Quick Info
Market Lot
IPO Details
Lead Managers
- Axis Capital Limited
- ICICI Securities Limited
- Kotak Mahindra Capital Company Limited
Registrar
Link Intime India Private Limited
