New Delhi, July 9 -- Laser Power & Infra Ltd., an integrated manufacturer of power cables and conductors, received a muted response from investors on the first day of its initial public offering (IPO), which opened for subscription on Thursday.

By the end of Day 1, the issue was subscribed 0.17 times, with bids received for 41.78 lakh shares against the 2.42 crore shares on offer, according to exchange data.

The retail investor portion was subscribed 0.26 times, while the non-institutional investor (NII) category saw 0.20 times subscription. The qualified institutional buyers (QIB) portion is yet to open for bidding.

Ahead of the IPO, the company raised Rs.222 crore from anchor investors, including Nippon India Mutual Fund, HDFC Mutual...