The scrip was listed at Rs 34.45, a discount of 15.98% compared with the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.
The counter hit a high of Rs 34.45 and a low of Rs 32.75. About 48,000 shares of the company changed hands at the counter.
Victory Electric Vehicles International's was subscribed 0.96 times. The issue opened for bidding on 7 January 2026 and it closed on 9 January 2026, with the IPO priced at Rs 41 per share.
The IPO consisted entirely of a fresh issue of 84.3 lakh equity shares. Post issue, promoter and promoter group shareholding declined to 63.33% from 97.41% earlier.
The company plans to utilise the net proceeds towards capital expenditure, working capital requirements, and general corporate purposes.
Victory Electric Vehicles is engaged in the manufacture of electric vehicles such as electric rickshaws, passenger rickshaws, e-loaders, cargo rickshaws and electric scooters. Its product portfolio also includes customised e-three-wheelers, catering to niche applications such as food vending and ice cream distribution. As of 30 September 2025, the company had 110 permanent employees.
The company recorded revenue from operations of Rs 16.81 crore and net profit of Rs 1.62 crore for the period ended 30 September 2025.