New Delhi, Sept. 23 -- The initial public offering (IPO) of Anand Rathi Share & Stock Brokers received a muted response on its first day of bidding, September 23, with investors placing bids for 57.24 lakh shares against the total offer of 1.27 crore shares, resulting in an overall subscription of 0.45 times by the end of Day 1, according to exchange data.

The retail investors' portion was subscribed 0.61 times, while the non-institutional investors' segment saw a subscription of 0.56 times. The QIB (Qualified Institutional Buyers) portion was minimally subscribed at just 0.01 times.

Anand Rathi aims to raise Rs.745 crore through the IPO, which is entirely a fresh issue of 1.80 crore shares. The price band for the issue is set between R...