Mumbai, Oct. 29: The initial public offer (IPO) of IndiGo's parent InterGlobe Aviation was subscribed 6.14 times on the last day of bidding today.

The IPO received robust response from qualified institutional buyers (QIBs), but retail participation was relatively subdued. Total bids came in at over 18.48 crore shares against the issue size of 3.01 crore shares on offer.

The QIB category was subscribed nearly 18 times with bids for over 15.17 crore shares. There was also a pick-up in the interest among retail investors. The retail portion, which received bids for 1.25 crore shares, was subscribed nearly 90 per cent.

The IPO came in the price band of Rs 700-760 per share and there were concerns that the valuation would deter some investors. Around 45 per cent of the issue were reserved for retail investors.

"Seen in that context, the retail investor participation was relatively better than my expectations. It now remains to be seen if InterGlobe delivers listing gains," an analyst said.

An improvement was also seen in the high net worth individual category, with the portion subscribed more than 3.57 times. However, the employee quota was poorly subscribed.

This is the biggest IPO since Bharti Infratel's over Rs 4,000-crore offer in December, 2012. Ace investor Rakesh Jhunjhunwala and foreign entities, including Acacia Partners LP, which is said to be associated with legendary investor Warren Buffett, are among those who have purchased shares of the airline.