India, July 23 -- Update | July 23, 6:10 PM

The IPO of IndiQube was subscribed 87% on the first day of bidding, with retail Individual investors (RIIs) leading the pack.

Day 1 of the IPO saw cumulative bids for 1.5 Cr shares as against 1.71 Cr shares on offer.

The portion reserved for RIIs was oversubscribed 3.4X times, receiving bids for 1.05 Cr shares against 31 Lakh shares on offer.

Alongside this, the employees segment was also oversubscribed 2.8X, with 2 Lakh bids against 73,891 on offer.

The portion reserved for non institutional investors (NIIS) received bids for 36.52 Lakh shares as against 46.56 Lakh shares on offer, translating to 78% subscription.

Similar to other recent new-age company IPOs opening day subscription, bidd...