New Delhi, July 29 -- Manipal Health Enterprises, which operates one of India's largest networks of multi-specialty hospitals, received a muted response from investors on the first day of its initial public offering (IPO), which opened for subscription on Wednesday.

By the end of Day 1, the issue was subscribed 0.15 times, with bids received for 1.31 crore shares against the 8.66 crore shares on offer, according to exchange data.

Among investor categories, the retail portion was subscribed 0.27 times, while the employee quota was booked 0.95 times. The non-institutional investor (NII) category saw 0.08 times the subscription, while the qualified institutional buyers (QIB) portion was subscribed 0.15 times.

Ahead of the IPO, the company...