Are the standard HEAT rounds for the RPG-7 effective as anti-personell weapons?

I know that the standard HEAT warhead for the RPG-7 is an anti-tank weapon, but does the warhead generate a blast or explosion big enough to be useful as an anti- personell weapon? Like, would the explosion be as big or as effective as that of a hand grenade or an I.E.D.? Can the standard HEAT round do this or is it only useful for piercing armor?