1. Specialized EV Portfolio

Unlike standard EV players, Victory focuses on the niche commercial segment. Their portfolio includes:

• L3 & L5 Electric Vehicles: E-rickshaws and cargo loaders.
• Customized Solutions: Specialized "Food on Wheels" and ice cream vending three-wheelers.
• Speed/Power: Models ranging from 25 kmph (city-commute) to 55 kmph (high-speed cargo).

2. Financial Snapshot (FY25)

• Revenue: ₹51.06 Crore (Steady year-on-year growth).
• Profit After Tax (PAT): ₹5.17 Crore.
• Margins: Strong EBITDA margin of 15.32% and a PAT margin of 10.17%.
• Return Ratios: Impressive ROE of 42.10% and ROCE of 31.27%.

3. Strategic Use of Funds

Victory Electric has a clear roadmap for the ₹34.56 crore proceeds:

• Working Capital (₹18 Cr): To manage raw material procurement for large dealer orders.
• CapEx (₹5 Cr): To upgrade production lines and automation at their plants.
• General Corporate: Remaining for brand building and geographic expansion.

Vital IPO Statistics

• Bidding Window: Jan 7, 2026 – Jan 9, 2026
• Fixed Issue Price: ₹41 per share
• Minimum Lot Size: 6,000 shares (Retail)
• Minimum Investment: ₹2,46,000
• Allotment Date: January 12, 2026
• Listing Date: January 14, 2026 (NSE SME)