New Delhi, July 8 -- The initial public offering (IPO) of Kusumgar Limited witnessed strong demand from both retail and non-institutional investors on its opening day of bidding on July 08.

The IPO, which will remain open for subscription until July 10, received bids for 3.99 crore shares against the 1.08 lakh shares on offer, resulting in an overall subscription of 3.67 times by the end of Day 1, according to exchange data.

Among the investor categories, the non-institutional investors (NII) segment attracted the highest interest, getting subscribed 7.76 times, followed by the retail investors at 3.76 times. The qualified institutional buyers (QIB) portion was also subscribed by 0.50 times.

Ahead of the issue opening, the company rais...