New Delhi, March 24 -- The initial public offering (IPO) of Powerica Limited, an integrated power solutions provider specialising in diesel generator sets (DG sets), which opened for subscription today, March 23, received a muted response from investors.

By the end of the day, the issue was subscribed just 0.01 times, with 2.14 lakh shares bid for against 1.95 crore shares on offer, according to exchange data.

The retail portion was subscribed 0.02 times, while the non-institutional investor (NII) portion was subscribed 0.01 times. The qualified institutional buyer (QIB) portion has not yet opened for bidding. The employee quota saw some response, as the segment was subscribed 0.32 times. Ahead of the issue opening, the company raised R...