Victory Electric Vehicles International came to market through an SME IPO that opened on 7 January 2026 and closed on 9 January 2026, and the shares listed on 14 January 2026 on NSE SME. The price band was ₹41 per share and one lot was 3000 shares, so the minimum application was ₹1,23,000. The issue size was ₹34.56 crore. The whole issue was fresh shares, so the money raised went to the company.
Maashitla Securities Private Limited was the registrar to the issue, and Corpwis Advisors Private Limited was the lead manager.
As of 9 January 2026.
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Incorporated in October 2018, Victory Electric Vehicles International Limited is engaged in designing, manufacturing, and marketing electric vehicles. The company offers green and sustainable mobility solutions by providing a diversified portfolio of electric two-wheelers, three-wheelers, and commercial vehicles. Victory Electric Vehicles International Limited works towards supporting the world's transition to green energy by encouraging the use of electric transportation.
The company provides products from E-rickshaws, E-Cargo/Loader E-rickshaws, Scooters, etc.The portfolio exceeds the traditional models to encompass tailormade E-Three Wheelers, aimed at meeting tailored needs like Food Three Wheelers and Ice Cream Three Wheelers etc.It combines cutting-edge technologies in vehicles, including lithium-ion battery sets, optimized electric drives, and intelligent connectivity functionality.
It appeals to both regional and global markets, aiming at delivering dependable performance, affordable cost of ownership, and low emissions.Victory Electric Vehicles International Limited is committed to a greener and cleaner tomorrow, joining the world in its drive to cut carbon emissions and reduce fossil fuel reliance.
As described in the offer document.
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Sanjay Kumar Popli, Seema, Palak Poply. Promoter holding 97.41% before the issue and 63.33% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Victory Electric Vehicles International IPO was a ₹34.56 crore fixed-price issue, made up entirely of a fresh issue. It was priced at ₹41 per share with a lot size of 3,000 shares; the minimum retail application was 6,000 shares (₹2,46,000). The IPO was open from January 7 to January 9, 2026 and was subscribed 1x. Shares listed on NSE SME on January 14, 2026 at ₹34.45, a 16.0% discount to the issue price of ₹41.
Maashitla Securities Private Limited is the registrar. Corpwis Advisors Private Limited is the book running lead manager.
The issue price of Victory Electric Vehicles International IPO is ₹41 per share (fixed price).
The lot size of Victory Electric Vehicles International IPO is 3000 shares.
The minimum investment for Victory Electric Vehicles International IPO is approximately ₹2,46,000 based on the issue price.
The allotment date of Victory Electric Vehicles International IPO is Jan 12, 2026.
You can check Victory Electric Vehicles International IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Victory Electric Vehicles International IPO allotment status on Rupix for quick and easy access.
₹41 per share, against a face value of ₹5. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 3000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,23,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,23,000, for one lot of 3000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 7 January 2026 and closed on 9 January 2026.
The basis of allotment was published on 12 January 2026 by Maashitla Securities Private Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 14 January 2026 on NSE SME.
The issue size was ₹34.56 crore. The fresh issue was 84,30,000 shares (aggregating up to ₹34.56 crore).