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Subscription Status · Jan 07 – Jan 09, 2026 · ₹45–45
Victory Electric Vehicles IPO subscribed 0.95 times — as of Jan 13, 2026
The Victory Electric Vehicles IPO subscription has recorded moderate investor demand with an overall subscription of 0.95× as of Jan 13, 2026, indicating that investors applied for 0.95 times the number of shares on offer. All investor categories — institutional, HNI, and retail — have participated actively, making this one of the closely watched IPO openings.
As of January 13, 2026
| Category | Shares Offered | Shares Bid For | Times Subscribed | Applications |
|---|---|---|---|---|
|
NII
Non-Institutional Investors
|
4,002,000 | 3,645,000 |
0.91×
|
— |
|
Retail
Retail Individual Investors
|
4,005,000 | 3,960,000 |
0.99×
|
— |
|
Total
|
8,007,000 | 7,605,000 |
0.95×
|
— |
How subscription built up across investor categories over time
Snapshot of each day's bidding activity
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| NII | 4,002,000 | 3,645,000 | 0.91× | — |
| Retail | 4,005,000 | 3,960,000 | 0.99× | — |
| Total | 8,007,000 | 7,605,000 | 0.95× | — |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | — | 2,559,000 | — | 4 |
| NII | 4,002,000 | 3,645,000 | 0.91× | — |
| Retail | 4,005,000 | 3,960,000 | 0.99× | — |
| Individual Investors | — | 4,044,000 | — | 674 |
| Total | 8,007,000 | 14,208,000 | 1.77× | 678 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| QIB | — | 2,559,000 | — | 4 |
| NII | — | 1,533,000 | — | 36 |
| Individual Investors | — | 4,044,000 | — | 674 |
| Total | — | 8,136,000 | — | 714 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| NII | 4,002,000 | 348,000 | 0.09× | 1,334 |
| Individual Investors | 4,005,000 | 2,628,000 | 0.66× | 1,335 |
| Total | 8,007,000 | 2,976,000 | 0.37× | 2,669 |
| Category | Offered | Bid For | Times | Applications |
|---|---|---|---|---|
| NII | — | 705,000 | — | 11 |
| Individual Investors | — | 1,500,000 | — | 250 |
| Total | — | 2,205,000 | — | 261 |
As of January 13, 2026, the Victory Electric Vehicles IPO has been subscribed 0.95 times overall. The IPO subscription is below 1×.
The Victory Electric Vehicles IPO subscription window was open from January 07, 2026 to January 09, 2026. Investors could apply through their demat account or ASBA facility.
The Victory Electric Vehicles IPO has a price band of ₹45 to ₹45 per share, with a lot size of 3,000 shares. Minimum retail investment: ₹135,000 (lower band) or ₹135,000 (upper band).
Retail investors subscribed 0.99 times. Retail was offered 4,005,000 shares. Below 1× indicates moderate retail interest.
Overall NII: 0.91×. NII includes HNIs and corporate entities investing above ₹2 lakh.
Basis of allotment is on January 12, 2026. Check via the registrar's website — Maashitla Securities Private Limited (SEBI Reg. No.: INR000004370) using your PAN number, application number, or DP/Client ID. You can also check on BSE/NSE websites or through your broker's app.
Victory Electric Vehicles IPO is expected to list on January 14, 2026. Shares will list on NSE SME platform. Allotted shares are credited to your demat account 1 business day before listing.
A subscription multiple of 0.95× means investors have bid for 0.95 times the total shares available. The IPO is not yet fully subscribed — applicants have a higher probability of receiving full allotment.
Based on the current retail subscription of 0.99×, the estimated allotment probability for retail investors is High. Applicants likely to get full allotment. If final subscription stays below 1×, all applicants are likely to get full allotment.
You can apply for Victory Electric Vehicles IPO through: (1) ASBA (Application Supported by Blocked Amount) via your bank's net banking or mobile app, (2) UPI-based application through your broker's app (Zerodha, Groww, Angel One, etc.), or (3) directly via your demat account. The amount is blocked in your account and deducted only upon allotment. Applications were accepted from Jan 07 to Jan 09, 2026.
The grey market premium (GMP) reflects unofficial pre-listing trading sentiment. For the latest Victory Electric Vehicles IPO GMP data, check the IPO Rise GMP page. Note: GMP is unofficial, speculative, and not a guaranteed indicator of listing price — use it only as a sentiment signal alongside official subscription data.
The Victory Electric Vehicles IPO subscription tracks how many times each investor category has subscribed relative to their reserved quota. As of Jan 13, 2026, the overall subscription stands at 0.95× — Partially Subscribed.
QIBs include domestic mutual funds, FIIs/FPIs, banks, insurance companies, and SEBI-registered venture capital funds. They are allocated up to 50% of the net offer (75% for SME IPOs). High QIB subscription signals strong institutional conviction and is considered a positive indicator for post-listing performance.
NIIs are high-net-worth individuals (HNIs) and corporate bodies applying for more than ₹2 lakh. SEBI further divides this into bNII (bids above ₹10 lakh) and sNII (bids between ₹2–10 lakh), each with a separate allotment bucket. NII overall at 0.91×. Very high NII subscription (>50×) often signals leveraged HNI bidding, suggesting a strong listing expectation.
Retail investors apply for up to ₹2 lakh. They are reserved 35% of the net offer (in most mainboard IPOs). If oversubscribed, allotment is via computerised lottery — each applicant (regardless of lot count) has an equal probability. Victory Electric Vehicles IPO retail subscription: 0.99×.
Price band: ₹45–₹45 per share. Lot size: 3,000 shares. Minimum retail investment at upper band: ₹135,000. Applications must be in multiples of 3,000 shares.
Stock exchanges (BSE/NSE) publish subscription data multiple times a day during the subscription window. The figures shown here represent the latest available snapshot. "Shares Offered" is the quota reserved for each category; "Shares Bid For" is the total demand received; "Times Subscribed" is the ratio of demand to supply.
Subscription Opens Done
Jan 07, 2026Subscription Closes Done
Jan 09, 2026Basis of Allotment Done
Jan 12, 2026Listing on NSE Done
Jan 14, 2026Applicants likely to get full allotment. Based on retail subscription of 0.99×.
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Higher subscription = lower allotment probability. Progress bars compare each category relative to the highest-subscribed category.