New Delhi, July 30 -- The initial public offering (IPO) of MV Electrosystems witnessed strong demand from both retail and non-institutional investors on its opening day of bidding on July 30.

The IPO, which will remain open for subscription until August 03, received bids for 1.45 crore shares against the 37.52 lakh shares on offer, resulting in an overall subscription of 3.87 times by the end of Day 1, according to exchange data.

Among the investor categories, the retail investor segment attracted the highest interest, getting subscribed 12.68 times, followed by the non-institutional investors (NII) at 4 times. The qualified institutional buyers (QIB) portion was also subscribed by 0.87 times.

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