Nephrocare Health Services IPO sees muted response on Day 2

Investor attention remains on Nephrocare Health Services as its IPO entered the second day of bidding on December 11. The Rs 871.05 crore book built issue, priced between Rs 438 and Rs 460 per share, was subscribed about 0.28 times by midday, with retail and QIB participation remaining moderate. The issue includes a fresh raise and an offer for sale, with proceeds earmarked for clinic expansion, debt repayment and general corporate needs. The grey market premium is currently around Rs 20, signalling cautious optimism ahead of listing.