Victory Electric Vehicles International Limited IPO Review
Neutral41-41 · SME
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Analyst Verdict
Victory Electric Vehicles International Limited IPO
Neutral
IPO at a Glance
Price Band
41-41
Issue Size
35cr
Min. Investment
₹1,23,000
Opens
2026-01-05
Closes
2026-01-07
Listing
2026-01-12
Category
SME
Key Strengths
✓Established EV manufacturer with a diversified product range across e-rickshaws, loaders and scooters.
✓Ability to offer customised electric three-wheelers for niche commercial applications.
✓Presence in high-demand EV markets supported by government EV policies.
✓Asset-light dealer-led distribution model across multiple Indian states.
✓Experienced promoters with operational knowledge of the EV ecosystem
Key Risks
⚠Revenue is highly dependent on a few states and dealer relationships.
⚠Heavy reliance on third-party suppliers for key EV components and batteries.
⚠Operates in a highly competitive and fragmented EV market with low entry barriers.
⚠Past NCLT insolvency proceedings may impact investor confidence.
⚠Business performance depends significantly on promoters and key management personnel.
Frequently Asked Questions
Should I apply for Victory Electric Vehicles International Limited IPO?
Based on our analysis, our rating for Victory Electric Vehicles International Limited IPO is: Neutral. Review the full analysis including strengths, risks, and financials on CheckIPO before making a decision.
What are the key risks of Victory Electric Vehicles International Limited IPO?
Revenue is highly dependent on a few states and dealer relationships. Heavy reliance on third-party suppliers for key EV components and batteries. Operates in a highly competitive and fragmented EV market with low entry barriers.
What are the strengths of Victory Electric Vehicles International Limited IPO?
Established EV manufacturer with a diversified product range across e-rickshaws, loaders and scooters. Ability to offer customised electric three-wheelers for niche commercial applications. Presence in high-demand EV markets supported by government EV policies.
What is the price band of Victory Electric Vehicles International Limited IPO?
The price band for Victory Electric Vehicles International Limited IPO is 41-41. The IPO has closed.
Full Analysis Available
Financials, DRHP breakdown, peer comparison, shareholding pattern & more