New Delhi, March 24 -- The initial public offering (IPO) of Sai Parenteral's, a diversified pharmaceutical formulations company, which opened for subscription today, March 23, received a muted response from investors.

By the end of the day, the issue was subscribed just 0.05 times, with 3.35 lakh shares bid for against 72.99 lakh shares on offer, according to exchange data.

The retail portion was subscribed 0.03 times, while the non-institutional investor (NII) portion was subscribed 0.15 times. The qualified institutional buyer (QIB) portion has not yet opened for bidding. Ahead of the issue opening, the company raised Rs.122.6 crore from anchor investors.

The initial public offering (IPO) of Sai Parenteral's has opened for bidding to...