India, March 5 -- Deeptech company SEDEMAC's initial public offering (IPO) continued to see tepid investor interest amid a turbulent broader market on its second day of bidding. As of 14:00 IST, the company's IPO attracted 17.42 Lakh bids against the 56.33 Lakh shares available for subscription, translating to a 31% subscription.

Institutional investors continued to shoulder most demand for the public issue. Qualified institutional buyers (QIB) placed the highest bids for 14.04 Lakh shares against the 16.07 Lakh shares earmarked for them. This translates to a 87% subscription of their quota.

The entire bidding for the QIB portion came from mutual funds, while foreign institutional investors and domestic financial institutions haven't sh...