India, Sept. 26 -- The BSE SME IPO of meat delivery company Zappfresh (DSM Foods) received a lukewarm response on the first day of bidding and was subscribed 21% on the first day of bidding.

As per Chittorgarh data, the IPO received bids for 8.26 Lakh shares as against 39.08 Lakh shares on offer.

The qualified institutional buyers (QIBs) portion saw the highest subscription at 44%, with these investors bidding for 4.94 Lakh shares against 11.16 Lakh shares on offer.

Non-institutional investors' (NIIs) bid for 1.77 Lakh shares as against 8.38 Lakh shares reserved for them, resulting in a 21% subscription.

Meanwhile, retail investor interest for Zappfresh's IPO remained the most lukewarm on day one. These investors bid for 1.56 Lakh sha...