214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9,804.70 Crs.  Total funds raised in 2025

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

214  Total SME IPOs listed in 2025

9804.70 Crs.  Total funds raised in 2,025.00

145  SME IPOs listed with Gain in 2025

69  SME IPOs listed with loss in 2025

Gurunanak Agriculture India IPO Review

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Gurunanak Agriculture IPO Date
  • IPO Open Date:
    24 Sep 2025
  • IPO Close Date:
    26 Sep 2025
  • IPO Allotment Date:
    29 Sep 2025
  • Tentative Refund Date:
    30 Sep 2025
  • IPO Listing:
    1 Oct 2025
Check Gurunanak Agriculture IPO GMP

Gurunanak Agriculture IPO Overview

Sector Update

Operates in Agro sector which is expected to grow at 10.67% CAGR; and from Fiscal 2015-16 to Fiscal 2024-25.

Growth drivers

Growth is driven by supportive government initiatives promoting agricultural mechanisation, planned capacity expansion with a new harvester manufacturing unit, and strong financial performance reflecting rising profitability and reinvestment potential.

Financial Update:
(comparison of FY24 FY25 )
Revenue ₹44.01 cr ₹43.85 cr (-0.36%)
PAT ₹2.45 cr ₹6.05 cr (+146.94%)
PAT Margin 5.57 % 13.80 % (+147.76%)
EBITDA ₹5.36 cr ₹9.93 cr (+85.26%)
EBITDA Margin 12.18 % 22.65 % (+85.96%)
ROE 39.45 % 49.31 % (+24.99%)
ROCE 47.46 % 63.88 % (+34.60%)
D/E 1.71 0.30 (-82.46%)
Business Diversification

Diversified across manufacturing agricultural machinery like harvesters and threshers, supplying spare parts and components, and providing after-sales maintenance and support services, catering to both small and large-scale farmers across India.

IPO Valuation

PE Ratio: 14.86x Average Sector PE Ratio: 17.96x

Gurunanak Agriculture IPO Reservation

Gurunanak Agriculture IPO Share Allocation
NII (HNI) Shares Offered: 1824000
Retail Shares Offered: 1824000
Total Shares Offered: 3648000
Gurunanak Agriculture IPO Lot Size
Application Lot Shares Amount
Individual investors (Retail) (Max) 2 3200 ₹240000
S-HNI (Min) 3 4800 ₹360000

Interesting facts about IPO

IPO Size: ₹ 28.80 Cr.

Avg IPO Size (Sector Based):

₹ 20.09 cr.

Sector: Agro

SME IPO so far in this sector:

84

Merchant Banker: Finshore Management

SME IPO by BRLM so far:

54


SME IPO so far in this city:

3

PE Ratio: 14.86

Average Sector PE Ratio:

17.96 X

Price Band (Upper): ₹ 75.00

Listing Price:

₹ 60.00

Business Profile

Gurunanak Agriculture India Limited, is engaged the manufacturing of agricultural machinery, including Threshers, Harvesters, Reapers, Rotavators, Cultivators, and more. Their company has consistently focused on delivering innovative solutions to meet the needs of the farming community. Their range of products includes Paddy Thresher, Groundnut Thresher, Wheat Thresher, Maize Thresher, Multi-crop Thresher, Harvester, Reaper, Rotavator, and others. Recently, Their company has launched Combined Harvester which has not only met but exceeded customer expectations, quickly gaining widespread popularity in the market due to its advanced features, superior efficiency, and reliability. The overwhelming demand for the Combined Harvester highlights the trust and satisfaction their customers place in their brand. To capitalize on this success and address the escalating market demand, they are embarking on a strategic expansion of their production capabilities. The cornerstone of this project is the development of a robust manufacturing infrastructure that will enable the cumulative annual production of 300 harvesters and 4,000 threshers and 4,000 units for other products (such as rotavators, reapers, cultivators, etc).

Strengths and Challenges as per DRHP

Strengths Image
  • Established in agricultural machinery sector.
  • Diverse product portfolio.
  • Consistent profitability and capacity expansion plans.
  • Support from government initiatives.
  • Strong after-sales services.
Strengths Image
WEAKNESSES Image
  • High dependence on the agricultural sector and seasonal demand.
  • Limited product presence outside India.
  • Competition from larger, established machinery manufacturers.
  • Revenue vulnerable to government policy changes and subsidies.
  • Reliance on timely supply of raw materials for production.
Strengths Image
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Comparison of Gurunanak Agriculture IPO with some Listed peers/Listing Gains in the Similar sector

Select Listed IPO for Comparison:
Basis
Gurunanak Agriculture IPO
vs
vs
vs

IPO Date
1st Oct 2025


IPO Size
₹ 28.80 Cr.

Total Assets
₹ 20.15 Cr.

Revenue
₹ 87.70 Cr.

PAT
₹ 12.10 Cr.

PAT Margin
13.80 %

Leverage Ratio
0.30 x

PE Multiple
14.86 x

EV/EBITDA
4.61 x

Notes:
1) All the above data is at the time of IPO
2) Revenue and Pat is taken on annualised basis

Gurunanak Agriculture IPO Objectives (Objects of Offer) and expected Utilisation

Funding Capital Expenditure for setting up Harvester Manufacturing Unit
17

Working Capital Requirements
6

Issue Related Expenses
2

General Corporate Expenses
2

Track Record of (Merchant Banker)/merchant Banker Report

Finshore Management Services Limited, based in Kolkata is the Lead Manager (BRLM) of Gurunanak Agriculture IPO. Finshore Management Services Limited has handled (17) SME IPOs till date of which (76%) of the SME IPOs have been listed with listing gains. Read full review of Finshore Management Services Limited .

Read more details of this IPO

Peer Companies Of This Sector

FAQs

Gurunanak Agriculture India IPO may offer opportunites, depending on your investment strategy. For in-depth analysis, risk factors, and KPIs, check our detailed report on Gurunanak Agriculture India Financial Review Page

Gurunanak Agriculture India IPO subscription was 1.72 X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Gurunanak Agriculture India IPO listed at a listing price of 60.00 against the offer price of 75.00.

The current market price of Gurunanak Agriculture India is 44.15.

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