The initial public offering (IPO) of SFC Environmental Technologies saw subdued demand on the second day of bidding, with the issue receiving 16 percent subscription by 11:42 am on October 28, as per NSE data. The Rs 667.5 crore IPO recorded bids for 22,11,660 shares against 1,41,59,744 shares on offer. Retail investors led the demand with 24 percent subscription, followed by non-institutional investors with 18 percent subscription.