Victory Electric Vehicles International Ltd's IPO opened on January 7, 2026, aiming to raise Rs 34.56 crore through a fresh issue of 0.84 crore equity shares at Rs 41 per share. By the second day, the IPO saw a subscription rate of approximately 0.25x to 0.28x, with the retail portion receiving more interest than the non-institutional investor category. Market observers note a nil grey market premium (GMP), suggesting a potential flat or negative listing. The shares are slated to list on the NSE SME platform on January 14, 2026.