IPO GMP (Grey Market Premium)
| Date | GMP | Kostak | Subject to Sauda |
|---|---|---|---|
| — | Not available | — | — |
IPO Details
| IPO Name | Victory Electric Vehicles IPO |
|---|---|
| IPO Type | SME IPO, Fixed‑Price |
| Issue Size | 56.47 Lakh shares (~₹40.66 Cr) |
| Issue Price | ₹72 per share |
| Face Value | ₹5 per share |
| Lot Size | 1,600 shares (₹1,15,200) |
| Retail Investment | ₹1,15,200 |
| HNI Investment | 2 lots = ₹2,30,400 |
| Registry | Maashitla Securities Pvt Ltd |
| Book‑Running Lead Manager | Corpwis Advisors Pvt Ltd |
| Market Maker | Alacrity Securities Ltd |
Important Dates
| SEBI Approval | 14 May 2025 |
|---|---|
| IPO Open | Not announced yet |
| IPO Close | — |
| Allotment | To be notified |
| Listing | NSE SME (Date TBA) |
Key Financial Metrics & Valuation
| Metric | Value |
|---|---|
| Pre‑IPO EPS | ₹3.12 |
| Post‑IPO EPS | ₹2.44 |
| P/E Ratio | 23.05× Pre, 29.57× Post IPO |
| ROE | 70.19% |
| ROCE | 44.78% |
| PAT Margin | 10.10% |
| Debt/Equity | 0.55× |
| Market Cap | ₹153.41 Cr |
Subscription
| Category | Subscription |
|---|---|
| Retail (50%) | TBA |
| NII (50%) | TBA |
Peer Comparison
| Peer | EPS (₹) | P/E (×) | RoNW (%) |
|---|---|---|---|
| Victory Electric Vehicles | 3.31 | 21.75 (rounded) | 33.41% |
| WardWizard | 0.54 | 37.69 | 14.79% |
| Tunwal E‑Motors | 2.85 | 10.74 | 82.17% |
Company Financials (₹ Cr)
| Year | Dec‑24 | Mar‑24 | Mar‑23 | Mar‑22 |
|---|---|---|---|---|
| Assets | 37.55 | 21.94 | 19.17 | 20.82 |
| Revenue | 39.68 | 48.76 | 52.14 | 48.14 |
| PAT | 3.89 | 4.89 | 0.79 | 0.65 |
| Net Worth | 13.59 | 9.70 | 4.24 | 2.78 |
| Borrowing | 9.12 | 5.30 | 6.21 | 7.80 |
Company Profile & Use of Funds
| Aspect | Details |
|---|---|
| Business | Designs, manufactures & distributes e‑2/3‑wheelers (Scooters, E‑rickshaws) since Oct 2018 with 110 employees. |
| IPO Objectives | Capex ₹50m, Working Capital ₹220m, Corporate Purposes ₹75.43m |
Strengths & Weaknesses
| Strengths | Weaknesses |
|---|---|
| Strong profitability, RoE 70%; niche electric‑vehicle focus | SME‑level liquidity risk; relatively high P/E |
Victory Electric IPO offers strong financials and attractive valuation compared to peers. Suitable for long‑term, but SME caution advised.