India, Nov. 10 -- Update | November 10, 18:52 PM

The IPO of fintech major Pine Labs continued to witness muted investor response on the second day of its bidding, with the issue getting subscribed a mere 54% by the end of the day. The issue received cumulative bids for 5.31 Cr shares against 9.78 Cr shares available for subscription on November 10.

Leading from the front, the company's employees continued to be the most bullish on the company's public offering, oversubscribing their quota 4.9X. These investors bid for 6.48 Lakh shares against the 1.32 Lakh shares reserved for them.

Meanwhile, retail investors (RIIs) subscribed to their quota by 87%, placing bids for 1.58 Cr shares against the 1.81 Cr shares earmarked for them. Followin...