GNG Electronics, which works under the ‘Electronics Bazaar’ brand, is one of India’s leading renovation of laptops, desktops and premium IT devices. | Photocredit:
The initial public offer (IPO) from GNG Electronics, which was opened on Wednesday, saw a robust response from investors, in which the issue generated a 9 times subscription, because all categories of investors came in money. The IPO of RS 460.63-Crore is priced on RS 225-227 per share and closes on Friday.The IPO consists of a new stock sale of RS 400 Crore and an offer for sale (OFS) of a maximum of 25.50 Lakh shares, worth RS 60.44 Crore. Investors can apply in many 63 shares.
Half of the issue is reserved for qualified institutional buyers, 35 percent for retail investors and the remaining 15 percent for non-institutional investors. The quota of the retail investors was subscribed 8.89 times, the section reserved for non-institutional investors with 18.85 times and for Qibs with 1.68 times.
The proceeds from the new issue will be used to pay the debt, the financing of working capital requirements and for general business purposes.
As part of the IPO, the company collected £ 138.13 crore from 14 anchor investors at the top of the price band of £ 237 per share in shares by assigning 58.28.290 shares on Tuesday. Of the total allocation of 58.28.290 shares to the anchor investors, 22.96.104 shares (ie 39.40% of the total allocation to anchor investors) were assigned to 3 domestic investment funds through a total of 4 diagrams.
Investors include Goldman Sachs, Mirae Asset MF, Motilal Oswal MF, Edelweiss MF, Fascinating Opportunity Strategy and Selectic Investors such as Ashish Kacholias Bengalian Finance, Madhusudan Kela’s founder Collective Fund, to name it.
GNG Electronics is one of the leading refurbishing of laptops and desktops with considerable presence in India, the US, Europe, Africa and the VAE.
The company is active under the ‘Electronics Bazaar’ brand, with a presence in the entire renovation value chain, from sourcing to renovation, sales and after-sales services, as well as warranty provision.
The extensive renovation process of the company for IT devices, including laptops, desktops, tablets, servers, premium smartphones, mobile workstations and accessories, ensures that these devices are comparable to new in terms of both performance and aesthetics.
In addition, the company can offer laptops at one third of the price of new devices, as well as other devices such as desktops, tablets, servers, premium smartphones, mobile workstations and accessories at 35-50 percent of the price of new devices.
Motilal Oswal Investment Advisors Limited, IIFL Capital Services Limited and JM Financial Limited are the bankers for the issue.
Published July 24, 2025
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