India, June 22 -- Insurtech company Turtlemint's IPO received mixed response on the second day of bidding, with the issue subscribed 50% as of 13:10 IST. Investors placed bids for 1.63 Cr shares as against a total offer size of 3.29 Cr.

Qualified institutional buyers (QIBs) have been the most enthusiastic for the issue since the issue opened. The portion reserved for them was subscribed 73%, getting bids for almost 1.3 Cr shares against 1.78 Cr shares on offer.

Retail investors placed bids for more than half the shares on offer for them. They bid for 30.8 Lakh shares against 60.49 Lakh shares on offer for them.

Non-institutional investors (NIIs) continued to show tepid interest in the issue, with the portion reserved for them subscribe...