India, April 28 -- The initial public offering (IPO) of electric two-wheeler maker Ather Energy saw strong demand from retail investors, who subscribed to 63% of the reserved shares for them on the first day of the bidding process.

As per BSE data, retail individual investors (RIIs) bid for 61.25 Lakh shares against 97.34 Lakh shares on offer as of 5 PM. This translated to a subscription of 63%.

Overall, Ather's IPO was subscribed 16%, receiving 86.16 Lakh bids against 5.33 Cr shares on offer.

The non-institutional investors' (NIIs) category was booked 0.16X, receiving bids for 23.08 Lakh shares as against 1.46 Cr shares on offer.

Meanwhile, qualified institutional buyers (QIBs) placed bids for a mere 5,060 shares against 2.89 Cr shar...