Nephrocare Health IPO Day 1: Issue subscribed 7%; no GMP. Should investors apply?

Nephrocare Health IPO consists of a ₹353-crore fresh issue and a ₹518-crore offer for sale. Of the fresh issue funds, Nephrocare Health Services intends to use ₹129.1 crore to set up new dialysis centres, ₹136 crore to repay debt, with the balance earmarked for general corporate needs.