New Delhi: The initial public offering of non-banking finance company Acme Fintrade (India) Ltd was subscribed 11.61 times on the second day of bidding on Thursday.

According to NSE data, bids were received for 9,13,08,500 shares against 78,65,000 shares in the initial share sale worth Rs 132 crore.

The quota for non-institutional investors was subscribed 22.21 times, while the retail individual investors (RII) category was subscribed 15.11 times. Qualified Institutional Buyers (QIB) portion received 17 per cent subscription.

Acme Fintrade's initial public offering (IPO) received 3 times subscription on the first day of bidding on Wednesday.

The IPO is a fresh issue of 1.1 crore equity shares.

The price range for the offer is Rs 114-120 per share.

Acme Fintrade (India) Ltd on Tuesday said it has raised about Rs 38 crore from anchor investors.

Acme Fintrade is primarily engaged in providing rural and semi-urban-focused lending solutions to customers in four states – Rajasthan, Maharashtra, Madhya Pradesh and Gujarat. The company's portfolio includes vehicle finance and business finance products for small business owners.

Greatex Corporate Services is the book-running lead manager of the offering.

The shares of the company will be listed on BSE and NSE.