Victory Electric Vehicles IPO Shows Moderate Response, Subscribed 1.27x on Day 3

Victory Electric Vehicles International Limited's initial public offering (IPO) has demonstrated moderate investor interest through its third day of subscription. The fixed issue price is set at ₹41 per share. The ₹34.56 crore IPO reached 1.27 times by 5:09:21 PM on day three. 
Victory Electric Vehicles IPO individual investors segment leads with weak 0.99 times subscription. Non-institutional investors demonstrate weak participation at 0.91 times. Market makers show complete participation at 1.00 times.

Victory Electric Vehicles IPO subscription reached moderate 1.27 times on day three. It was led by Individual Investors (0.99x) and Non-Institutional Investors (0.91x). Total applications reached 698.

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Subscription Status of Nanta Tech IPO:

Here are the subscription details for Victory Electric Vehicles IPO as of Day 3 (January 9, 2026, 5:09:21 PM):

Key Highlights - Day 3:

• Overall subscription reached moderate 1.27 times, showing substantial improvement from day two's 0.37 times
• Individual investors displaying weak confidence at 0.99 times, building substantially from day two's 0.66 times, indicating marginally inadequate retail demand for this SME IPO
• Total applications reached 698, showing very limited investor participation for this fixed price SME IPO
• Cumulative bid amount reached ₹41.67 crores, modestly exceeding the net offer size of ₹32.83 crores (excluding market maker portion) by approximately 1.3 times
• Market makers fully subscribed their allocation of ₹1.73 crores

Victory Electric Vehicles IPO - Day 2 Subscription at 0.37 Times

Key Highlights - Day 2:

• Overall subscription reached weak 0.37 times, showing modest improvement from day one's 0.29 times
• Individual investors displaying weak confidence at 0.66 times, building substantially from day one's 0.40 times

Victory Electric Vehicles IPO - Day 1 Subscription at 0.29 Times

Key Highlights - Day 1:

• Overall subscription reached weak 0.29 times, showing very cautious initial investor interest
• Individual investors displaying weak confidence at 0.40 times, indicating weak retail appetite

About Victory Electric Vehicles International Limited

Incorporated in October 2018, Victory Electric Vehicles International Limited designs, manufactures, and distributes electric vehicles. The company provides sustainable and eco-friendly mobility solutions by offering a wide range of electric two-wheelers, three-wheelers, and commercial vehicles. Victory Electric Vehicles International Limited aims to contribute to the global shift towards green energy by promoting the adoption of electric transportation. The company offers products ranging from E-rickshaws, E-cargo/loader E-rickshaws, and scooters. The portfolio extends beyond conventional offerings to include customized E-three wheelers, catering to specific needs such as food three wheelers and ice cream three wheelers. The company integrates advanced technologies into its vehicles, such as lithium-ion battery systems, efficient electric drivetrains, and smart connectivity features. It caters to both domestic and international markets, striving to offer reliable performance, cost-effective ownership, and minimal environmental impact. Victory Electric Vehicles International Limited envisions a cleaner and greener future, aligning its mission with global efforts to reduce carbon emissions and dependence on fossil fuels. Competitive strengths include geographical presence in 12 states with dealers in all 12 states, experienced leadership backed by a skilled professional team, and robust financial performance.