Victory Electric Vehicles IPO: Muted Day 1 Response, GMP Nil; Listing Concerns?

• Victory Electric Vehicles IPO received a total subscription of 0.28 times on Day 1.
• Retail category subscribed 0.38x, while Non-Institutional Investors (NII) saw 0.18x subscription.
• Grey Market Premium (GMP) remains nil at Rs 41, indicating a flat or negative listing.
• The Rs 34.56-crore IPO is priced at Rs 41 per share, with listing scheduled for January 14, 2026, on NSE SME.
• Victory Electric Vehicles International Ltd designs, manufactures, and distributes electric two-wheelers, three-wheelers, and commercial vehicles.

Why It Matters: Victory Electric Vehicles IPO sees weak Day 1 subscription and nil GMP, raising listing concerns.