New Delhi, March 24 -- Central Mine Planning's initial public offering (IPO) received a tepid response from investors, managing to sail through on the final day of the bidding process on Tuesday, March 24, thanks to heavy subscription from the qualified institutional investors (QIBs). All other categories remained undersubscribed.

The IPO of Central Mine Planning & Design Institute, a subsidiary of Coal India, had opened for bidding last week on March 20 and was subscribed 25% by the second day of bidding on Monday.

As per BSE data, Central Mine Planning IPO received bids for 8,37,13,200 shares against the total offer of 7,97,89,500 shares.

The QIB segment saw 3.48 times subscription, while the retail individual investors quota was sub...