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Victory Electric Vehicles International IPO is a fixed price issue aiming to raise ₹34.56 crore. The IPO consists entirely of a fresh issue of 0.84 crore equity shares. The subscription window was open from January 7, 2026, to January 9, 2026, with the IPO allotment expected to be finalised on January 12, 2026. Victory Electric Vehicles International is scheduled to list on the NSE SME platform on January 14, 2026.
The IPO was priced at ₹41 per share with a lot size of 3,000 shares. Investors were required to apply for a minimum of 6,000 shares. The public issue received bids for 1,01,64,000 shares against 80,07,000 shares offered to the public, resulting in an overall subscription of 1.27 times. Retail individual investors subscribed 0.99 times their quota, while non-institutional investors subscribed 0.91 times.
Victory Electric Vehicles International’s ₹34.56 crore IPO, priced at ₹41 per share, was subscribed 1.27 times overall. The issue comprises a fresh issue of 84,30,000 equity shares.
The IPO opened for bidding from January 7 to January 9, 2026, with the allotment status expected on January 12, 2026. Retail investors subscribed 0.99 times, while the NII segment subscribed 0.91 times and the company is expected to list on NSE SME on January 14, 2026.
The table below breaks down the Victory Electric Vehicles International share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 4,23,000 (5.02%) |
| NII (HNI) Shares Offered | 40,02,000 (47.47%) |
| Retail Shares Offered | 40,05,000 (47.51%) |
| Total Shares Offered | 84,30,000 (100.00%) |
Data Source: NSE
| Category | Subscription (times) |
| Non-Institutional Investors (NII) | 0.91 |
| Retail Individual Investors (RII) | 0.99 |
| Total | 1.27 |
Note: The subscription details are as of January 9, 2026
Victory Electric Vehicles International Limited was incorporated in October 2018 and is engaged in the design, manufacturing, and distribution of electric vehicles. The company focuses on providing sustainable and eco-friendly mobility solutions aligned with the growing adoption of electric transportation.
The company offers a diverse product range that includes electric two-wheelers, three-wheelers, e-rickshaws, electric cargo and loader rickshaws, and scooters. It also develops customised electric three-wheelers for specialised applications such as food vending and ice cream distribution.
Victory Electric Vehicles International integrates advanced technologies such as lithium-ion battery systems, efficient electric drivetrains, and smart connectivity features into its vehicles. These features are aimed at improving performance, reducing operating costs, and enhancing overall user experience.
The company operates across domestic and international markets and has established a dealer network across 12 states. With experienced leadership and a skilled professional team, Victory Electric Vehicles International Limited continues to strengthen its presence in the electric mobility segment while aligning its operations with the objective of reducing carbon emissions.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 9, 2026, 6:41 PM IST
Akshay Shivalkar
Akshay Shivalkar is a financial content specialist who strategises and creates SEO-optimised content on the stock market, mutual funds, and other investment products. With experience in fintech and mutual funds, he simplifies complex financial concepts to help investors make informed decisions through his writing.
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