India, June 23 -- The IPO of insurtech company Turtlemint continued to witness a lukewarm response on the final day of bidding, with the issue subscribed 57% as of 12:22 IST.

According to NSE data, investors bid for 1.87 Cr shares against 3.29 Cr shares on offer.

Retail investors emerged as the most active participants, with the portion reserved for them subscribed 79%. The category attracted bids for 47.73 Lakh shares against 60.49 Lakh shares reserved.

Demand from qualified institutional buyers was relatively stronger, with the segment subscribed 73%. These investors placed bids for 1.3 Cr shares against 1.78 Cr shares earmarked for them.

In contrast, participation from non-institutional investors remained subdued. The NII portion w...