Victory Electric Vehicles' SME IPO opened on January 7, but the grey market premium is at 0%, showing limited excitement about immediate price gains.
Key Subscription Details
- Issue size: about Rs 35 crore (84.3 lakh shares).
- Price: Rs 41 per share.
- Pre‑IPO valuation: roughly Rs 99 crore.
- Listing date: January 14 on NSE SME.
Who Can Apply and How Much?
Retail investors must buy at least two lots (3,000 shares per lot), meaning a minimum investment of Rs 2.46 lakh. High‑net‑worth individuals need to apply for three lots, or Rs 3.69 lakh.
Company Overview
Victory Electric Vehicles designs and makes electric two‑wheelers, three‑wheelers, and small commercial EVs such as e‑rickshaws, cargo loaders, and custom three‑wheelers for food vending or cold‑storage transport. The firm operates in 12 Indian states and exports to a few overseas markets.
Recent Financial Performance
- FY 2025 revenue: Rs 51.06 crore (up from Rs 48.76 crore in FY 2024).
- Profit after tax FY 2025: Rs 5.17 crore (versus Rs 4.89 crore a year earlier).
- Six‑month results (ended Sep 2025): revenue Rs 16.9 crore, PAT Rs 1.62 crore.
Use of IPO Proceeds
Funds will mainly support capital expenditures, working‑capital needs, and general corporate purposes.
Market Sentiment
The lack of a grey market premium suggests investors are not expecting a quick jump in the share price after listing. The subscription response over the next three days will reveal whether institutions and retail buyers find value despite the muted signals.
Disclaimer
Remember, this is perspective, not a prediction. Do your own research before making any investment decisions.