Comparison between B.A.G.Convergence IPO and Gurunanak Agriculture IPO.
B.A.G.Convergence IPO is a SME Fixed Price IPO proposed to list at NSE SME while Gurunanak Agriculture IPO is a SME Fixed Price proposed to list at NSE SME.
| B.A.G.Convergence IPO | Gurunanak Agriculture IPO | |
|---|---|---|
| Logo |  |  |
| Issue Category | SME | SME |
| Issue Type | IPO | IPO |
| Process Type | Bookbuilding | Fixed Price |
| Listing At | NSE SME | NSE SME |
| Lead Managers | Inventure Merchant Banker Services Pvt.Ltd. | Finshore Management Services Ltd. |
| Registrar | Maashitla Securities Pvt.Ltd. | Cameo Corporate Services Ltd. |
| Market Maker | ACME Capital Market Ltd. | Anant Securities |
| DRHP | DRHP  | DRHP |
| RHP | RHP | |
| Final Prospectus | Final Prospectus | Final Prospectus |
| Anchor Investor | Anchor Investor | |
| IPO Allotment URL | IPO Allotment URL | IPO Allotment URL |
The total issue size of B.A.G.Convergence IPO is up to ₹46.28 Cr whereas the issue size of the Gurunanak Agriculture IPO is up to ₹27.36 Cr. The final issue price of B.A.G.Convergence IPO is ₹87.00 per share and of Gurunanak Agriculture IPO is ₹75.00 per share.
| B.A.G.Convergence IPO | Gurunanak Agriculture IPO | |
|---|---|---|
| Face Value | ₹10 per share | ₹10 per share |
| Issue Price (Lower) | ₹82.00 per share | |
| Issue Price (Upper) | ₹87.00 per share | |
| Issue Price (Final) | ₹87.00 per share | ₹75.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ||
| Market Lot Size | 1600 shares | 1600 shares |
| Fresh Issue Size | 53,20,000 shares | 36,48,000 shares |
| Fresh Issue Size (Amount) | up to ₹46.28 Cr | up to ₹27.36 Cr |
| OFS Issue Size | 0 shares | 0 shares |
| OFS Issue Size (Amount) | up to ₹0.00 Cr | up to ₹0.00 Cr |
| Issue Size Total | 53,20,000 shares | 36,48,000 shares |
| Issue Size Total (Amount) | up to ₹46.28 Cr | up to ₹27.36 Cr |
B.A.G.Convergence IPO opens on Sep 30, 2025, while Gurunanak Agriculture IPO opens on Sep 24, 2025. The closing date of B.A.G.Convergence IPO and Gurunanak Agriculture IPO is Oct 03, 2025, and Sep 26, 2025, respectively.
| B.A.G.Convergence IPO | Gurunanak Agriculture IPO | |
|---|---|---|
| Anchor Bid Date | Sep 29, 2025 | |
| Issue Open | Sep 30, 2025 | Sep 24, 2025 |
| Issue Close | Oct 03, 2025 | Sep 26, 2025 |
| Basis Of Allotment (Tentative) | Oct 06, 2025 | Sep 29, 2025 |
| Initiation of Refunds (Tentative) | Oct 07, 2025 | Sep 30, 2025 |
| Credit of Share (Tentative) | Oct 07, 2025 | Sep 30, 2025 |
| Listing date (Tentative) | Oct 08, 2025 | Oct 01, 2025 |
| Anchor Lockin End date 1 | Nov 05, 2025 | |
| Anchor Lockin End date 2 | Jan 04, 2026 |
B.A.G.Convergence IPO P/E ratio is 14.45, as compared to Gurunanak Agriculture IPO P/E ratio of 10.11.
| B.A.G.Convergence IPO | Gurunanak Agriculture IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Financials | Company Financials (Restated Consolidated)B.A.G.Convergence Ltd.'s revenue increased by 18% and profit after tax (PAT) rose by 17% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Standalone)Gurunanak Agriculture India Ltd.'s revenue not changed and profit after tax (PAT) rose by 147% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 89.58 | 99.99 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 65.93 | 68 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | 14.45 | 10.11 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹184.60 Cr. | ₹90.00 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 49.33 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 63.88 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.57 | 0.38 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹6.02 | ₹7.42 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | 40.96 | 49.33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the B.A.G.Convergence IPO Retail Individual Investors (RII) are offered 18,88,000 shares while in Gurunanak Agriculture IPO retail investors are offered 18,88,000 shares. Qualified Institutional Buyers (QIB) are offered 10,40,000 shares in B.A.G.Convergence IPO and 0 shares in Gurunanak Agriculture IPO.
| B.A.G.Convergence IPO | Gurunanak Agriculture IPO | |
|---|---|---|
| Anchor Investor Reservation | 15,60,000 shares | 0 shares |
| Market Maker Reservation | 2,80,000 shares | 1,92,000 shares |
| QIB | 10,40,000 shares | 0 shares |
| NII | 8,32,000 shares | 18,24,000 shares |
| RII | 18,88,000 shares | 18,24,000 shares |
| Employee | 0 shares | 0 shares |
| Others | ||
| Total | 53,20,000 shares | 36,48,000 shares |
B.A.G.Convergence IPO subscribed 1.38x in total, whereas Gurunanak Agriculture IPO subscribed 1.72x.
| B.A.G.Convergence IPO | Gurunanak Agriculture IPO | |
|---|---|---|
| QIB (times) | 1.38x | |
| NII (times) | 2.63x | 0.29x |
| Big NII (times) | 3.63x | |
| Small NII (times) | 0.62x | |
| RII (times) | 0.83x | 3.15x |
| Employee (times) | ||
| Other (times) | ||
| Total (times) | 1.38x | 1.72x |
