India, Sept. 25 -- Snapdeal parent AceVector's Rs.420 Cr IPO was subscribed 9% as of 14:12 IST on the first day of bidding, with investors bidding for 65.11 Lakh shares against 7.42 Cr shares on offer, according to BSE data.

Retail investors led bidding, subscribing to 36% of their quota. They placed bids for 49.85 Lakh shares against 1.37 Cr shares reserved for them.

Non-institutional investors (NIIs) bid for 15.27 Lakh shares against their allocation of 2.06 Cr shares, subscribing to 7% of the portion.

Qualified institutional buyers (QIBs) were yet to place bids against the 3.99 Cr shares earmarked for them.

The IPO will close on September 29 (Tuesday). AceVector has set a price band of Rs.30-Rs.32 per share, valuing the company at ...