MUMBAI: Prominent investor Rakesh Jhunjhunwala may have placed a bid for shares of Marcotech Developers, formerly called Lodha Developers, in the company’s ongoing initial public offering, business news channel ETNow reported. The report comes at a time when the city-based real estate developer’s IPO has struggled for response from investors. The IPO was subscribed merely 35 per cent on the second day of the bidding process. It closes for subscription on Friday. ETMarkets could not independently verify the report. The lack of response from retail and high net-worth individuals has been particularly alarming for the IPO's investment bankers given that both the segments have been the driving force behind the success of many of the recent public offers.