New Delhi, April 24 -- The initial public offering (IPO) of Emmforce Autotech, a niche automotive drivetrain parts manufacturer, witnessed an overwhelming response on the first day of bidding on Tuesday.

The company's maiden public issue was oversubscribed a staggering 20.21 times.

All categories of investors participated actively in the issue on Tuesday, with bids received for 7.94 crore equity shares against the IPO size of 39.33 lakh shares, as per subscription data available with the Bombay Stock Exchange (BSE).

Retail investors led the charge by subscribing 29.34 times the allotted quota. Non-institutional investors, comprising high net-worth individuals, also showed significant interest, bidding 23.37 times the reserved portion....