India, June 18 -- The IPO of B2B ecommerce company ArisInfra Solutions received a lukewarm response on the first day of bidding and was subscribed 18% till 3 PM on the first day of bidding.

According to BSE data, the IPO received bids for 23.91 Lakh shares as against 1.3 Cr shares on offer.

The retail investors' portion saw the highest subscription at 80%, receiving bids for 19.72 Lakh shares against 23.79 Lakh shares on offer.

Qualified institutional buyers (QIBs) placed bids for only 6,432 shares against 71.37 Lakh shares on offer.

Non-institutional investors (NIIs) bid for 4.4 Lakh shares compared to 36.68 Lakh shares reserved for them, resulting in a subscription of 12%.

ArisInfra has set a price band of INR 210 to INR 222 for it...