India, April 28 -- The initial public offering (IPO) of electric two-wheeler maker Ather Energy is witnessing steady demand from retail investors, who have subscribed 50% of the portion reserved for them on the first day of the bidding process so far.

As per BSE data, retail individual investors (RIIs) had bid for 48.73 Lakh shares against 97.34 Lakh shares on offer as of 2:10 PM. This translated to a subscription of 50%.

Overall, Ather's IPO was subscribed 0.13 times, receiving bids for 71.10 Lakh shares against 5.33 Cr shares on offer.

The portion for non-institutional institutional buyers (QIBs) was booked 0.14 times receiving bids for 20.41 Lakh shares against 1.46 Cr shares on offer.

Meanwhile, qualified institutional buyers (QIB...