India, Sept. 28 -- Snapdeal parent AceVector's Rs.420 Cr IPO has been subscribed 96% as of 14:33 IST on the second day of bidding, with investors placing bids for 7.16 Cr shares against the 7.42 Cr shares on offer.

Till now, retail investors have been most bullish on the public float, oversubscribing their quota 1.11X. These investors have placed bids for 1.53 Cr shares till now against 1.37 Cr shares reserved for them.

Following them, the qualified institutional buyer (QIB) portion has been completely subscribed, with these investors placing bids for 4.03 Cr shares against 3.99 Cr shares reserved for the category. This translates to an oversubscription of 1.01X.

Non-institutional investors (NIIs) subscribed their quota by 78%, placing...