Victory Electric Vehicles IPO Enters Final Day After 0.40x Subscription; Retail Demand Remains Key Driver

Mumbai, January 9, 2026 – The SME initial public offering of Victory Electric Vehicles International Limited enters its final day of bidding today, with the issue subscribed 0.40 times as of the close of Day 2, supported largely by steady retail participation.
The IPO opened for subscription on January 7 and is scheduled to close later today, January 9, 2026. Shares are proposed to be listed on January 14, 2026.

Subscription Status Till End of Day 2​

As per data updated at 17:00 hours on January 8, the issue received bids for 33.63 lakh shares against a total issue size of 84.30 lakh shares.
Overall subscription improved from 0.26 times on Day 1 to 0.40 times by the end of Day 2. Institutional investors have not participated so far, while retail investors continue to account for the bulk of the demand.

IPO Details at a Glance​

Retail investors are required to apply for a minimum of 6,000 shares, amounting to an application value of ₹2.46 lakh at the issue price.

About Victory Electric Vehicles International​

Victory Electric Vehicles International Limited operates in the electric vehicle manufacturing segment, focusing on electric three-wheelers and last-mile mobility solutions. The company designs and manufactures electric rickshaws, passenger and cargo three-wheelers, e-loaders, electric scooters, and customised electric vehicles for commercial use. Sales are primarily driven through a dealer-led distribution network across key Indian markets under the “Victory” brand.
With bidding entering its final session today, investor attention will be on whether last-day participation helps lift overall subscription levels before the issue closes this evening.