New Delhi, June 24 -- The initial public offering (IPO) of CSM Technologies, an IT solutions provider, opened for subscription on June 24 and received a muted response from investors on the first day of bidding.

By the end of Day 1, the issue was subscribed 0.26 times, with bids received for 29.30 lakh shares against the 1.11 crore shares on offer, according to exchange data.

The retail portion was subscribed 0.42 times, while the non-institutional investor (NII) segment was subscribed 0.53 times. The qualified institutional buyers (QIB) portion is yet to open for bidding.

The Rs.146-crore CSM Technologies IPO is entirely a fresh issue of equity shares with a face value of Rs.10 each. The public offering does not include any offer-for-...