India, Sept. 11 -- After ending the first day of its IPO with an oversubscription of 5.3X, driven primarily by retail investors, coworking space provider DevX's public issue gained further momentum on the second day of bidding.

The issue was oversubscribed 9.4X as of 11:54. The IPO received bids for 12 Cr shares against 1.31 Cr shares on offer.

The retail category saw the highest subscription at 37X, receiving bids for 8.52 Cr shares against 23 Lakh shares on offer. It was followed by the portion reserved for non-institutional investors (NIIs), with 8.2X oversubscription. The NIIs bid for 2.91 Cr shares compared to 34.50 Lakh shares reserved for them.

Qualified institutional buyers (QIBs) showed a relatively muted response, bidding for...