Victory Electric Vehicles International is entering the public markets through SME IPO with an issue size of ₹34.56 crore. The issue consists of a fresh issue of equity shares. The shares are proposed to be listed on NSE & SME.
The IPO subscription window opens on January 7, 2026 and will remain open until January 9, 2026. The company plans to list its shares on January 14, 2026. Being an SME IPO, the issue may appeal to investors familiar with lower liquidity listings.
Victory Electric Vehicles International Limited IPO Timeline
IPO Quick Facts
This section covers the main IPO details of Victory Electric Vehicles International that investors generally review before applying.
IPO Details at a Glance
| Company Name | Victory Electric Vehicles International |
|---|---|
| IPO Segment | SME |
| Sale Type | Fresh Issue |
| Issue Type | Fixed Price IPO |
| Price | ₹41 Per Share |
| Lot Size | 3,000 Shares |
| Face Value | ₹5 Per Share |
| Exchange | NSE & SME |
Investor Category & Share Allocation
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 423,000 | 5.02% |
| NII (HNI) | 4,002,000 | 47.47% |
| Retail | 4,005,000 | 47.51% |
| Total Shares Offered | 8,430,000 | 100.00% |
Victory Electric Vehicles International IPO Important Dates
The following table highlights the key dates for the Victory Electric Vehicles International IPO, covering the subscription period and the expected listing timeline.
| IPO Opening Date | 07 Jan 2026 |
|---|---|
| IPO Closing Date | 09 Jan 2026 |
| Allotment Finalization | 12 Jan 2026 |
| Initiation of Refunds | 13 Jan 2026 |
| Credit of Shares | 13 Jan 2026 |
| IPO Listing Date | 14 Jan 2026 |
Victory Electric Vehicles International IPO Size & Structure
| Total IPO Size | ₹34.56 Crore |
|---|---|
| Fresh Issue | ₹34.56 Crore |
Victory Electric Vehicles International IPO Lot Size & Minimum Investment
The table below shows the lot size and investment amount for the Victory Electric Vehicles International IPO, which is a fixed price IPO priced at ₹41 per share.
Investors can apply for the IPO with a minimum of 3000 shares. Applications must be made in multiples of 3000 shares.
- Retail investors can apply from 2 lot to 2 lots.
This information helps investors understand the minimum investment required before applying for the IPO.
Note: Retail investors generally apply at the cut-off price, which is ₹41 per share.
| Category | Lots | Shares | Price | Amount |
|---|---|---|---|---|
| Retail (Min) | 2 | 6,000 | ₹41 | ₹246,000 |
| Retail (Max) | 2 | 6,000 | ₹41 | ₹246,000 |
| HNI (Min) | 3 | 9,000 | ₹41 | ₹369,000 |
Victory Electric Vehicles International IPO GMP (Grey Market Premium)
The latest Victory Electric Vehicles International IPO GMP (Grey Market Premium), along with Kostak rates and Subject to Sauda rates, helps in understanding market sentiment. The current Victory Electric Vehicles International IPO GMP is ₹0 (0.00%), compared to the IPO issue price of ₹41. Based on the current GMP, the expected listing price is around ₹41. The Lowest GMP was ₹0 on 13 Jan 2026, while the highest GMP reached ₹0 on 13 Jan 2026.
Victory Electric Vehicles International IPO was listed on the stock exchange on 14 Jan 2026. The IPO was subscribed 0.95 times. The first reported GMP was ₹0 (0%), while the latest recorded GMP stood at ₹0 (0%).Listing Details:
- Issue Price: ₹41 per share.
- Listing Price: ₹34.45 (approx. 15.98% discount)
- Listing Date: 14 Jan 2026
Victory Electric Vehicles International IPO GMP Today - Trend Analysis
| Date | Issue Price (₹) | GMP Price (₹) | Estimated Gain (%) | Estimated Price (₹) | Estimated Profit (₹) |
|---|---|---|---|---|---|
| 13 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 12 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 10 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 09 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 08 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 07 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 06 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 05 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 03 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 02 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
| 01 Jan 2026 | ₹41 | ₹0 | 0% | ₹41 | ₹0 |
Victory Electric Vehicles International IPO GMP gives retail and institutional investors an idea about short-term market expectations. Although grey market premium does not guarantee listing performance, it is still commonly referred to while analysing IPOs. Investors are advised to look at Victory Electric Vehicles International fundamentals along with IPO GMP data before making any investment decision.
GMP Disclaimer: GMP (Grey Market Premium) prices are unofficial and only reflect market sentiment. We neither participate in grey-market trading nor encourage it. Investors are strongly advised to review the company’s fundamentals, risks, and official documents before considering an investment in the Victory Electric Vehicles International IPO.
Victory Electric Vehicles International IPO Subscription Status
Victory Electric Vehicles International IPO was subscribed 0.95 times overall on the final day of bidding (as of 09 Jan 2026).The subscription opened on 07 Jan 2026. The Retail portion was subscribed 0.98 times.
Subscription by Category (QIB, NII, Retail, Employee)
Daily Subscription Trend (Day-wise):
| Date | QIB | NII | Retail | Employee | Total |
|---|---|---|---|---|---|
| 07 Jan 2026 | — | — | 0.41x | — | 0.28x |
| 08 Jan 2026 | — | — | 0.66x | — | 0.41x |
| 09 Jan 2026 | — | — | 0.98x | — | 0.95x |
On Day-1, the Victory Electric Vehicles International IPO saw low participation from investors. Retail subscription remained limited at 0.41x, while NII interest was also weak, keeping overall subscription on the lower side.
Subscription for the Victory Electric Vehicles International IPO improved slightly on Day-2 due to marginal increase in retail bids. However, institutional participation continued to remain limited.
By the close of the issue, the IPO was subscribed 0.95x overall. Participation from investors remained selective, with limited traction across categories. Overall subscription for the Victory Electric Vehicles International IPO increased from 0.28x on Day-1 to 0.95x by the final day.
Victory Electric Vehicles International IPO Final Subscription
| Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | — |
| Non-Institutional Investors (NII) | — |
| Retail Investors | 0.98x |
| Total | 0.95x |
Victory Electric Vehicles International IPO Allotment Status
The Victory Electric Vehicles International IPO allotment status was released on 12 Jan 2026. Investors who applied for the IPO can now check their Victory Electric Vehicles International allotment status online through the official registrar website and NSE / BSE portal.
- 🗓 Allotment Date: 12 Jan 2026
- 📈 Listing Date: 14 Jan 2026
How to Check Victory Electric Vehicles International IPO Allotment Status Online?
Investors can check the Victory Electric Vehicles International IPO allotment status online through Maashitla Securities Pvt. Limited and NSE websites. All platforms provide easy access to the IPO allotment details.
Just follow the below mentioned steps to check your allotment status.You can also visit
Maashitla Securities Pvt.
to know more about the IPO registrar.
Check on Maashitla Securities Pvt. Limited (IPO Registrar)
- Visit → Maashitla Securities Private Limited
- Select Victory Electric Vehicles International
- Select
- Enter the relevant details to proceed further
- Click Submit to view allotment status
Check on NSE (National Stock Exchange) Website
- Go to → NSE Website
- Select Equity & SME IPO Bid Details.
- Choose Victory Electric Vehicles International IPO.
- Enter your PAN & Application Number.
- Click on Submit button.
The National Stock Exchange (NSE) provides an online facility to check the Victory Electric Vehicles International IPO allotment status.
Note: Allotment status is published only on the official registrar websites. We do not collect investor data or provide allotment verification directly.
How to Apply for Victory Electric Vehicles International IPO?
Login to Your Trading App
Open your trading app such as Angel One, Zerodha, Upstox, Groww or any brokerage app.
Go to the IPO Section
Navigate to the IPO section in the app, search for the IPO, and enter your bid details.
Enter Your UPI ID
Provide your UPI ID that is linked to your bank account for payment authentication.
Approve the Mandate
Open your UPI app and approve the payment mandate to block the required amount.
Application Confirmation
Application submitted successfully, the funds will remain blocked until allotment is finalized.
Victory Electric Vehicles International IPO Listing Analysis
Below is a quick summary of the Victory Electric Vehicles International IPO issue price, listing price, and listing gain on BSE and NSE.
| IPO Status | Issue Price | Listing Price | Listing Gain |
|---|---|---|---|
| Listed (BSE) | ₹41 | ₹34 | ▼ -15.98% |
| Listed (NSE) | ₹41 | ₹34 | ▼ -15.98% |
Victory Electric Vehicles International made a weak debut on the stock market on 14 Jan 2026, listing at ₹34.45, which was -₹7 lower (-15.98%) than its IPO issue price of ₹41. This indicated a negative listing sentiment, and IPO investors faced an immediate notional loss on debut.
Selling pressure continued throughout the session, and the stock slipped further by -100.00% from the listing price, closing at ₹0. From the IPO issue price, this translated into a total decline of -₹41 per share (-100.00%) by the end of the day.
For investors who were allotted one lot of 3000 shares, the investment of ₹123,000 reduced to ₹0. Investors booked an overall loss of -₹123,000 per lot on the listing day.
📌 IPO Issue Price and Lot Size
The IPO of Victory Electric Vehicles International was offered in the price band of ₹41 to ₹41 per share.
- The final issue price was fixed at ₹41.
- One lot consisted of 3000 shares.
- Minimum investment: ₹41 × 3000 = ₹123,000
- Investment after Day-1: ₹0 × 3000 = ₹0
- By the end of the listing session, investors faced a loss of -₹123,000 per lot.
📌 IPO Subscription Analysis
With weak overall demand of 0.95× and limited QIB participation of 0×, the IPO delivered a disappointing market debut. The stock listed at -15.98% and closed at -100.00%, indicating poor investor confidence.
| Day | QIB | NNI | Retail | Total |
|---|---|---|---|---|
| Day 1 | 0x | 0x | 0.41x | 0.28x |
| Day 2 | 0x | 0x | 0.66x | 0.41x |
| Day 3 | 0x | 0x | 0.98x | 0.95x |
📌 Final Assessment
Overall Outcome: Below Expectations IPO
- Subscription Phase: Weak investor participation
- Listing Phase: Weak listing performance
- Investor Experience: Negative short-term experience
IPO Financial Summary
- Total Assets changed by 42.62% in FY 2024-2025.
- Total Revenue changed by 4.72% in FY 2024-2025.
- Profit After Tax changed by 5.73% in FY 2024-2025.
- Reserves & Surplus changed by -0.71% in FY 2024-2025.
- Total Borrowings changed by 75.28% in FY 2024-2025.
| Metric | 2025-09-30 | 2025-03-31 | 2024-03-31 | 2023-03-31 |
|---|---|---|---|---|
| Total Assets (₹ Cr) | 33.19 | 31.29 | 21.94 | 19.17 |
| Total Revenue (₹ Cr) | 16.90 | 51.06 | 48.76 | 52.14 |
| Profit After Tax (₹ Cr) | 1.62 | 5.17 | 4.89 | 0.79 |
| Reserves & Surplus (₹ Cr) | 8.67 | 7.04 | 7.09 | 2.20 |
| Total Borrowings (₹ Cr) | 4.85 | 9.29 | 5.30 | 2.90 |
Utilisation of Proceeds
The Company proposes to utilise the net IPO proceeds of approximately ₹29.78 crore towards the following objectives:
| # | Purpose | Amount (₹ Cr) | % of Total |
|---|---|---|---|
| 1 | Capital Expenditure | 5.00 | 16.79% |
| 2 | Working Capital Requirement | 18.00 | 60.44% |
| 3 | General Corporate Purposes | 6.78 | 22.77% |
| Total | 29.78 | 100% | |
Victory Electric Vehicles International IPO Promoter Holding
| Promoter(s) | The promoters of the company Sanjay Kumar Popli, Seema and Palak Poply |
|---|---|
| Pre-Issue Holding | 97.41% |
| Post-Issue Holding | 63.33% |
Victory Electric Vehicles International IPO FAQs
The Victory Electric Vehicles International IPO is a SME Fixed Price IPO with a total issue size of ₹34.56 crore. The issue consists of a fresh issue of ₹34.56 crore.
The IPO will open for subscription on Wed, 07 Jan 2026 and will close on Fri, 09 Jan 2026.
The shares are being offered at a fixed issue price of ₹41 per equity share.
Investors can apply for the IPO with a minimum lot size of 3,000 shares.
At the upper price band, the minimum investment required for one lot is approximately ₹246,000.
The shares of Victory Electric Vehicles International are expected to be listed on NSE & SME on Wed, 14 Jan 2026.
The Grey Market Premium (GMP) of Victory Electric Vehicles International IPO is ₹0.
The Victory Electric Vehicles International IPO was subscribed 0.95 times on the final day of subscription.
The retail portion is subscribed 0.98 times as of 09 Jan 2026.
The IPO registrar of Victory Electric Vehicles International is Maashitla Securities Pvt. Limited. Maashitla is responsible for processing IPO applications, finalizing allotment, crediting shares, and initiating refunds.
The allotment date is expected on Mon, 12 Jan 2026.
Allotment status is generally updated in the evening (6 PM – 10 PM) on Mon, 12 Jan 2026 on the registrar or exchange website.
Shares are expected to be credited by Tue, 13 Jan 2026.
Refunds for unsuccessful applicants will be initiated on Tue, 13 Jan 2026.
Investors can check refund status via:
- UPI mandate / bank account (NACH, NEFT, RTGS)
- ASBA bank portal
Victory Electric Vehicles International IPO is listed on NSE.
The current share price of Victory Electric Vehicles International Limited is ₹19.05. The stock opened at ₹19.45, hit a high of ₹19.90 and a low of ₹19.00.
Victory Electric Vehicles International Limited share price has decreased by ₹0.40 (2.06%) compared to the previous close. The stock has declined 44.70% from its listing price of ₹34.45 on BSE and declined 44.70% from its listing price of ₹34.45 on NSE.
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