India, Nov. 7 -- Update | November 7, 18:50 PM

Fintech firm Pine Labs' IPO saw a modest start on the first day of bidding, with the issue subscribed 0.13X. The public issue received cumulative bids for 1.29 Cr shares against 9.78 Cr shares available for subscription.

The employee quota saw the highest enthusiasm on Day 1 and was subscribed 2.96X, receiving bids for 3.92 Lakh shares against 1.32 Lakh shares reserved.

Retail individual investors' quota was subscribed 54%, getting bids for 98.66 Lakh shares against 1.81 Cr shares on offer.

The non-institutional investors' category was only subscribed 7%, with bids received for 18.44 Lakh shares compared to 2.71 Cr shares on offer.

The qualified institutional buyers' segment saw a mere 2...