Mumbai, January 8, 2026 – The SME initial public offering of Victory Electric Vehicles International Limited enters Day 2 of bidding today, following a subdued response on its opening day, where the issue was subscribed 0.26 times by the end of Wednesday’s session.
The IPO opened for subscription on January 7 and will remain open till January 9, 2026, with shares proposed to be listed on January 14, 2026.
Subscription Snapshot at End of Day 1
As per data available at the close of bidding on Wednesday, the issue received bids for 22.05 lakh shares against a total issue size of 84.30 lakh shares.| Category | Applications | Shares Bid For |
|---|---|---|
| Qualified Institutional Buyers (QIBs) | – | – |
| Non-Institutional Investors (NIIs) | 11 | 7,05,000 |
| Retail Individual Investors (RIIs) | 250 | 15,00,000 |
| Total | 261 | 22,05,000 |
IPO Structure and Key Details
| Particulars | Details |
|---|---|
| Issue Size | ₹35 crore |
| Total Shares Offered | 84.30 lakh |
| Issue Price | ₹41 per share |
| Lot Size | 3,000 shares |
| IPO Open | January 7, 2026 |
| IPO Close | January 9, 2026 |
| Listing Date | January 14, 2026 |
About Victory Electric Vehicles International
Victory Electric Vehicles International Limited operates in the electric vehicle manufacturing space, focusing on electric three-wheelers and last-mile mobility solutions. Its product portfolio includes electric rickshaws, passenger and cargo three-wheelers, e-loaders, electric scooters, and customised EVs for applications such as food vending and distribution.The company follows an in-house manufacturing model and markets its products through a dealer-led distribution network across key Indian states under the “Victory” brand.
With bidding resuming this morning, investor attention will be on whether subscription momentum improves over the course of Day 2, particularly across the non-institutional and retail segments.
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