With demand for electric vehicles (EVs) booming in India, Victory Electric Vehicles Limited (VEVIL) is launching its initial public offering (IPO).
The IPO opens on January 7, 2026, and closes on January 9, 2026, with a fixed price of Rs 41 per share.
VEVIL focuses on last-mile mobility and aims to provide affordable, clean, and sustainable transport solutions.
The company primarily manufactures electric two-wheelers and three-wheelers for both passengers and goods.
Victory Electric Vehicles: Business and Products
The company offers a wide range of electric vehicles, including:
L3 electric rickshaw and L5 electric auto
Electric cargo vehicles and loaders
Electric scooters
Customized vehicles like food carts, ice cream vans, and garbage trucks
The ability to customize vehicles gives VEVIL an edge in a price-sensitive market.
The company’s manufacturing plant can produce 6,000 vehicles annually, with a growing capacity to meet rising demand.
Its distribution network covers several states, especially in northern and central India, and the business is mainly B2B.
Financially, the company has remained profitable despite market fluctuations and employs 110 permanent staff as of September 2025.
IPO Details and Listing
This IPO is a fresh issue of 84.3 lakh shares, totaling approximately Rs 34.56 crore.
Key points include:
Issue price: Rs 41 per share
Retail quota: 50% reserved for retail investors
Minimum investment: 6,000 shares (~Rs 2.46 lakh)
Listing date: January 14, 2026, on NSE Emerge (SME platform)
No offer for sale: Entire IPO is a new issue
This IPO is a significant opportunity for investors looking to enter the growing electric vehicle sector in India.