Victory Electric Vehicles IPO Listing: Shares of Victory Electric Vehicles (Victory EV), a manufacturer of electric two-wheelers, three-wheelers and commercial vehicles, entered NSE SME today at a huge discount. Its IPO also did not get much response from investors and the reserved portion of any category was not fully filled. Shares have been issued under the IPO at a price of ₹ 41. Today it has entered NSE SME at ₹ 34.45, which means that IPO investors did not get any listing gain, rather their capital decreased by 15.98% on listing. IPO investors got a further shock when the shares fell further. It fell to the lower circuit of ₹ 32.75 (Victory Electric Vehicles Share Price) and closed at this i.e. at the end of the first trading day, IPO investors are at a loss of 20.12%.
How will Victory Electric Vehicles IPO money be spent?
The ₹35 crore IPO of Victory Electric Vehicles was open for subscription from January 7-9. This IPO did not get much response from investors and overall it was subscribed only 0.95 times. The portion of this non-institutional investors (NII) was subscribed 0.91 times and the half reserved for retail investors was subscribed 0.99 times. Under this IPO, 84.30 lakh new shares with face value of ₹ 5 have been issued. Of the money raised through these shares, ₹5 crore will be spent on capital expenditure, ₹18 crore will be spent on working capital requirements and the remaining money will be spent on general corporate purposes.
About Victory Electric Vehicles
Victory Electric Vehicles International Limited, formed in October 2018, is engaged in designing, manufacturing and distribution of electric vehicles. Its portfolio includes electric two-wheelers, three-wheelers and commercial vehicles. It manufactures e-rickshaws, e-cargo/loader e-rickshaws, scooters etc. Its products are sold not only in India but also outside the country.
Talking about the financial health of the company, it had a net profit of ₹ 79 lakh in the financial year 2023, which jumped to ₹ 4.89 crore in the next financial year 2024 and ₹ 5.17 crore in the financial year 2025. However, during this period, there were fluctuations in the total income of the company which came down from ₹ 52.14 crore in FY 2023 and ₹ 48.76 crore in FY 2024 to ₹ 51.06 crore in FY 2025. Talking about the current financial year 2026, the company has achieved net profit of ₹ 1.62 crore and total income of ₹ 16.90 crore in the first half April-September 2025. At the end of September 2025, the company had a total debt of ₹4.85 crore while ₹8.67 crore was lying in reserves and surplus.
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