The IPO was subscribed 27 per cent on the first day of bidding Wednesday.

The company had on Tuesday raised Rs 39.70 crore from seven anchor investors at Rs 215 per share.

One may subscribe to the IPO with a long-term horizon or give it a miss, many analysts said.

Promoters would be looking to offload up to 29 lakh shares in a price band of Rs 212–215.

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