Mumbai, May 5: The initial public offering (IPO) of Parag Milk Foods saw tepid response on Thursday with the issue subscribed nearly 0.23 times. Bids for 43.6 lakh shares of the total 1.91 crore shares were received on day two of IPO.
The qualified institutional buyers (QIB) portion was sub-scribed0.12 times as they bidfor 13 lakh shares of the 103 lakh shares on offer for them. High net-worth individuals on the other hand bid for 11 lakh shares of the 50 lakh shares reserved for them, bidding 0.22 times. Retail investors were a little more enthusiastic as they bid for nearly 50 % of their quota or 17 lakh shares of the 33 lakh shares reserved. Employees bid for 2.19 lakh shares of the 3 lakh shares reserved.