Victory Electric Vehicles International Limited IPO – GMP, Review, Price Band, Subscription & Allotment Details

The initial public offering (IPO) of Victory Electric Vehicles International Limited is a public issue under the SME segment. The three-day subscription window is scheduled to open on Jan 7, 2026 and close on Jan 9, 2026, giving retail investors, high-net-worth individuals (HNIs) and qualified institutional buyers (QIBs) a fixed bidding period to apply. As an SME issue, it lists on the exchange's dedicated small-and-medium enterprise platform and carries a larger minimum lot value than a typical mainboard offering.

This report brings together everything you need before applying — the price band, lot size, minimum investment, grey market premium (GMP) trend, category-wise subscription figures and the full allotment-to-listing timeline. All numbers below are updated from the latest available exchange and registrar data, and are meant purely for information rather than as investment advice.

The price band for the Victory Electric Vehicles International Limited IPO has been set at ₹41 per equity share, with a market lot of 3000 shares. At the upper end of the band, a single retail lot therefore requires an application amount of approximately ₹1,23,000, which is the minimum a retail investor must commit to participate in the issue.

Retail applicants can bid for up to the value ceiling permitted by SEBI, while HNIs must apply beyond that threshold across the small-HNI (₹2–10 lakh) and big-HNI (above ₹10 lakh) sub-categories. Choosing the cut-off price when bidding is generally recommended so that your application remains valid even if the issue is finalised at the top of the band.

Grey market premium data for Victory Electric Vehicles International Limited has not been reported yet. Once trading interest builds in the unofficial market, the GMP will appear here and update through the subscription period.

It is important to treat the GMP as sentiment, not a guarantee. Grey market prices are unofficial, thinly traded and can swing sharply based on overall market mood and subscription momentum. They are neither published nor endorsed by any stock exchange, so they should be read alongside the company's fundamentals and subscription trend rather than in isolation.

Throughout the bidding window you can track live subscription figures for Victory Electric Vehicles International Limited across each investor category — QIB, NII/HNI and Retail. The overall subscription multiple tells you how many times the issue has been bid relative to the shares on offer; a figure above 1x means the issue is oversubscribed, while a figure below 1x indicates it is still undersubscribed.

Category demand matters because allotment rules differ by segment. In an oversubscribed retail category, shares are allotted by a computerised lottery, so every valid application has an equal chance of receiving one lot regardless of how many lots were applied for. Strong QIB participation is often read as a vote of confidence from institutional investors, whereas heavy last-day HNI bidding can reflect leveraged, listing-gain-driven demand.

The total issue size of the Victory Electric Vehicles International Limited IPO is TBA. After the subscription window closes on Jan 9, 2026, the basis of allotment is expected to be finalised around TBA. Successful applicants will have shares credited to their demat accounts, and refunds for unsuccessful applications are released around the same time.

Listing is tentatively scheduled for Jan 14, 2026 on NSE SME. On listing day the discovered opening price reflects the balance of demand and supply once trading begins — a premium to the issue price delivers listing gains, while a discount results in a listing loss. You can check your allotment status by PAN or application number on the registrar's portal as soon as the basis of allotment is published.

Investors can apply for the Victory Electric Vehicles International Limited IPO through their bank's ASBA (Application Supported by Blocked Amount) facility in net-banking, or via the UPI mandate flow offered by most broking apps. The application amount is only blocked — not debited — until allotment, and is released automatically if you do not receive an allotment.

Before committing funds, read the company's red herring prospectus (RHP) for details on its business model, financials, promoter background, objects of the issue and risk factors. Combine that fundamental view with the live GMP and subscription data on this page to form a balanced decision. Nothing here constitutes investment advice; please consult a SEBI-registered advisor for guidance tailored to your goals.