India’s IPO market in 2025 continues to showcase growth, with niche and industry-specific companies attracting investor attention. Gurunanak Agriculture India Limited, a prominent manufacturer of agricultural machinery, is opening its IPO on September 24, 2025, giving investors a chance to participate in a company with a strong domestic and global footprint.
About Gurunanak Agriculture India Ltd.
Incorporated in February 2010, Gurunanak Agriculture India Ltd. manufactures a wide range of agricultural machinery, including threshers, harvesters, reapers, rotavators, and multi-crop equipment. The company operates a manufacturing facility spanning 4.08 hectares in Durg, Chhattisgarh, ensuring high-quality production and operational efficiency.
The company has established a robust domestic and international distribution network, with 48 dealers across 7 states in India and exports to countries such as Bhutan, Ghana, Nepal, Nigeria, South Africa, Sri Lanka, Sudan, and Uganda. Gurunanak Agriculture participates actively in trade fairs and exhibitions to showcase its latest innovations.
Competitive Strengths:
- Comprehensive and diversified product portfolio
- Strong brand reputation and customer trust
- Technological innovation and R&D capabilities
- Cost-effective and locally manufactured machinery
- Strategic distribution network and scalability
- Strong financial and operational management
Gurunanak Agriculture IPO Details
The Gurunanak Agriculture IPO is a fixed price issue of ₹28.80 crore, entirely a fresh issue of 0.38 crore shares. It will list on the NSE SME.
IPO Timeline:
| Event | Date (Tentative) |
| IPO Open Date | Sep 24, 2025 |
| IPO Close Date | Sep 26, 2025 |
| Tentative Allotment | Sep 29, 2025 |
| Initiation of Refunds | Sep 30, 2025 |
| Credit of Shares to Demat | Sep 30, 2025 |
| Tentative Listing Date | Oct 1, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Sep 26, 2025 |
Key IPO Details:
| Parameter | Details |
| Face Value | ₹10 per share |
| Issue Price | ₹75 per share |
| Lot Size | 1,600 shares |
| Total Issue Size | 38,40,000 shares (₹28.80 Cr) |
| Sale Type | Fresh Capital |
| Reserved for Market Maker | 1,92,000 shares (₹1.44 Cr) |
| Net Offered to Public | 36,48,000 shares (₹27.36 Cr) |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 81,60,000 shares |
| Shareholding Post-Issue | 1,20,00,000 shares |
Investor Category Reservation:
| Category | Shares Offered | Percentage |
| Market Maker | 1,92,000 | 5.00% |
| NII (HNI) | 18,24,000 | 47.50% |
| Retail | 18,24,000 | 47.50% |
| Total | 38,40,000 | 100% |
Lot Size & Investment:
| Application | Lots | Shares | Amount |
| Retail (Min) | 2 | 3,200 | ₹2,40,000 |
| Retail (Max) | 2 | 3,200 | ₹2,40,000 |
| HNI (Min) | 3 | 4,800 | ₹3,60,000 |
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Promoter Holding:
Promoters: Harjeet Singh, Jaspreet Kaur, Kamaljeet Singh Kalsi
- Pre-IPO: 99.99%
- Post-IPO: 68%
Book Running Lead Manager: Finshore Management Services Ltd.
Registrar: Cameo Corporate Services Ltd.
Market Maker: Anant Securities
Gurunanak Agriculture Ltd.: Financials
Financial Highlights (₹ Crore):
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 20.16 | 21.99 | 18.17 |
| Total Income | 43.95 | 44.09 | 39.17 |
| Profit After Tax | 6.06 | 2.45 | 0.61 |
| EBITDA | 9.75 | 5.37 | 2.53 |
| Net Worth | 12.27 | 6.22 | 3.77 |
| Reserves & Surplus | 4.11 | 5.71 | 3.26 |
| Total Borrowing | 4.66 | 10.59 | 6.66 |
Key Performance Indicators (FY2025):
The market capitalisation of Gurunanak Agriculture IPO is ₹90.00 Cr.
| KPI | Value |
| ROE | 49.33% |
| ROCE | 63.88% |
| Debt/Equity | 0.38 |
| RoNW | 49.33% |
| PAT Margin | 13.81% |
| EBITDA Margin | 22.23% |
| Price to Book Value | 4.99 |
| KPI | Pre-IPO | Post-IPO |
| EPS (Rs) | 7.42 | 5.05 |
| P/E (x) | 10.11 | 14.86 |
Gurunanak Agriculture IPO Objectives
The net proceeds of the IPO will be utilised as follows:
| Object | Expected Amount (₹ Million) |
| Funding capital expenditure for the harvester manufacturing unit | 170.67 |
| Working capital requirements | 67.69 |
| Issue-related expenses | 29.64 |
| General corporate expenses | 20 |
Industry Outlook
The agricultural machinery industry in India is experiencing robust growth due to:
- Rising demand for mechanised farming equipment in domestic and international markets
- Expansion of distribution networks and access to rural markets
- Government initiatives supporting mechanisation and efficiency in agriculture
- Continuous innovation in machinery design and technology
Gurunanak Agriculture’s integrated manufacturing, diversified product portfolio, and strong domestic and international distribution network position it well to capitalise on these growth trends.
Gurunanak Agriculture IPO: Peer Comparison
Investors can compare Gurunanak Agriculture India Ltd with peers like Indo Farm Equipment Ltd, which also offers tractors and farm machinery. This comparison helps assess market positioning and growth potential in the agricultural equipment sector.
Conclusion
Gurunanak Agriculture IPO provides an opportunity to invest in a leading player in the Indian agricultural machinery sector with consistent financial performance, scalable operations, and a strong promoter team. However, potential investors should consider risks such as market competition, dependency on a limited set of machinery products, and fluctuations in demand from agricultural markets.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
