Victory Electric Vehicles International IPO Upcoming
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Schedule of Victory Electric Vehicles International
| Issue open date | 20 May 2025 |
| Issue close date | 23 May 2025 |
| UPI mandate deadline | 23 May 2025 (5 PM) |
| Allotment finalization | 27 May 2025 |
| Refund initiation | 27 May 2025 |
| Share credit | 27 May 2025 |
| Listing date | 28 May 2025 |
| Mandate end date | 07 Jun 2025 |
| Lock-in end date for anchor investors (50%) | 22 Jun 2025 |
| Lock-in end date for anchor investors (remaining) | 21 Aug 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Victory Electric Vehicles International
Victory Electric Vehicles International Ltd, founded in 2018 and converted to a public company in 2020, manufactures a range of electric vehicles including e-rickshaws, e-loaders, and customized three-wheelers. Headquartered in New Delhi, the company aims to tap into India’s EV growth and explore exports. It is led by Managing Director Sanjay Kumar Popli, who brings deep expertise in electrical engineering and EV manufacturing. The company has a strong nationwide distribution network.
Financials of Victory Electric Vehicles International
*All figures are in ₹ Crores.
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹40.66 crores |
| Fresh Issue | ₹40.66 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure |
5 (12.30%) |
| Working capital requirements | 22 (54.12) |
| General corporate purposes | 7.54 (18.55%) |
Strengths
- One of the few L5 E-Rickshaw manufacturers in India with a growing product range.
- Achieved revenue over ₹50 crore in FY 2022–23 with steady capacity growth
- Offers diverse EV products including scooters, passenger and cargo 3-wheelers
- Strong leadership with technical and industry experience in electric vehicles
- Pan-India dealer network and plans to expand geographically and product-wise
Risks
- High dependence on limited EV models for revenue may impact business if not well received.
- Inadequate public charging infrastructure could limit EV adoption.
- EV batteries may degrade faster than expected, affecting customer satisfaction.
- Company relies on third-party logistics, with no formal contracts in place.
- Does not own key facilities; premises are on short-term lease from promoter group
Allotment Status for Victory Electric Vehicles International
To check your allotment status – click here.