Leading eyecare service provider Dr Agarwal's Healthcare IPO opened for subscription earlier today. The issue, which has a high OFS component worth Rs 2,727 crore out of the total offering of Rs 3,027 crore, will be available for investors to bid till January 31.What is Dr Agarwal's Healthcare GMP?The GMP of Dr Agarwal's Healthcare is muted currently at just Rs 12, which is a premium of a mere 3% over the IPO price. It should be noted that the GMP has declined significantly since the issue was announced.Check Dr Agarwal's Healthcare IPO price bandDr Agarwal's Healthcare IPO is being offered to investors at a price range of Rs 382-402 apiece. Investors can bid for one lot and in multiples, where each lot will have 35 shares in it.Dr Agarwal's Healthcare IPO review: What analysts say?Despite a high OFS structure and rich pricing, analysts advised investors to subscribe to the IPO for long term purposes.Sebi returns Digvijay Gaekwad's letter seeking permission for competing offer for Religare EnterprisesAt the upper band the company is valued at 134x its FY24 EPS. Following the IPO, the company's market cap will be around Rs 12,698 crore based on its FY24 earnings."The company has around 25% of its market share in its business of eye care-related services. We believe that the issue is richly priced and recommend Subscribe – Long Term rating to the IPO," said Anand Rathi in a note.Dr Agarwal's Healthcare IPO detailsDr Agarwal's Healthcare provides a comprehensive range of eye care services, including cataract, refractive and other surgeries; consultations, diagnoses and non-surgical treatments; and sells opticals, contact lenses and accessories, and eye care related pharmaceutical products.The company has 25% of the total eye care service chain market in India during the fiscal year 2024. In this period, the company served 2.13 million patients and performed 220,523 surgeries.Its business operations are structured as a hub and spoke model, which enables it to build a scalable and accessible platform for the continued growth of our business. As of September 2024, the network in India includes 28 hubs and 165 spokes.According to a CRISIL report, the Indian eye care industry is projected to grow at a CAGR of 12% to 14% from FY24 to FY28, which gives the company significant opportunity to innovate and capitalise on the industry tailwinds.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)