New Delhi, July 23 -- The initial public offering (IPO) of Lohia Corp witnessed modest demand from retail and non-institutional investors on the first day of bidding on July 23.

The IPO, which will remain open for subscription until Monday, July 27, received bids for 56.8 lakh shares against the total offer size of 1.43 crore shares, translating into an overall subscription of 0.40 times by the end of Day 1, according to exchange data.

Among investor categories, the non-institutional investor (NII) portion was subscribed 0.15 times, while the retail investor segment was booked 0.68 times. The qualified institutional buyers (QIB) portion was subscribed 0.43 times, according to the exchange data.

Ahead of the issue, the company raised Rs...