The initial public offering (IPO) of Nephro Care India was subscribed 715.85 times on Tuesday, helped by heavy participation from institutional investors. The Rs 41.26 crore initial share sale received bids for 2,23,00,38,400 shares against 31,15,200 shares on offer. The portion for non-institutional investors received 1,787.56 times subscription, the quota for retail individual investors subscribed 634.12 times, as per the NSE data. Additionally, the quota for qualified institutional buyers received 245.14 times subscription, and employee portion was subscribed 20.44 times, bringing the overall subscription to 715.85 times. The Kolkata-headquartered healthcare provider said on Friday raised Rs 11.14 crore from anchor investors. The IPO comprises fresh issuance of 45.84 lakh equity shares. Shares were available for public subscription in the range of Rs 85-90 per scrip. The kidney care provider intends to utilise Rs 26.17 crore of the IPO proceeds for setting-up a multi-speciali