GNG Electronics IPO: Key Details, Review, and What Investors Should Know

Introduction

GNG Electronics Limited, one of India's leading refurbishers of laptops, desktops, and ICT devices, has launched its highly anticipated Initial Public Offering (IPO) on July 23, 2025. The IPO comes at a time of strong demand for technology services and sustainability-driven businesses. Here’s a detailed look at everything investors need to know.

IPO Timeline and Key Dates

Event	Date
IPO Opens	July 23, 2025
IPO Closes	July 25, 2025
Allotment Finalization	July 28, 2025
Refunds Initiation	July 29, 2025
Credit of Shares to Demat	July 29, 2025
Listing Date (BSE, NSE)	July 30, 2025

Issue Details

• Total Issue Size: ₹460.43crore

• Fresh Issue: 1.69crore shares (₹400crore)

• Offer for Sale (OFS): 25.5lakh shares (₹60.44crore)

• Issue Price Band: ₹225 to ₹237 per share

• Face Value: ₹2 per share

• Minimum Lot Size: 63 shares (₹14,931 minimum investment for retail)

• Lead Managers: Motilal Oswal Investment Advisors Limited

• Registrar: Bigshare Services Pvt Ltd12345.

Subscription Status: Overwhelming Response

The IPO received a massive response from investors, being fully subscribed within the first hour and recording an overall subscription of 9.20x by the end of Day 1:

Category	Subscription (times)
Qualified Institutional Buyers (QIB)	1.68x
Non-Institutional Investors (NII)	18.86x
Retail Investors (RII)	9.31x
Total	9.20x

More than 12.7million bids were received against the available 1.38million shares on Day 1, reflecting robust demand across investor categories6789.

Grey Market Premium (GMP) Trend

GNG Electronics' IPO is debuting with a strong Grey Market Premium (GMP):

Date	GMP	Estimated Listing Price	Upside over IPO Price
July 23	₹105	₹342	44.3%
July 22	₹92	₹329	38.8%
July 21	₹85	₹322	35.9%

The GMP indicates that the market expects the stock to list at a significant premium, signaling high investor optimism1011412.

About GNG Electronics

Founded in 2006, GNG Electronics has established itself as a specialist in sourcing, refurbishing, and distributing laptops, desktops, and other ICT devices. The company serves markets in India, the US, Europe, Africa, and the UAE, with a network spanning 38 countries.

GNG Electronics operates under the 'Electronics Bazaar' brand and offers end-to-end solutions—procurement, refurbishment, sales, after-sales, and warranty. It partners with major retail chains like Vijay Sales and OEMs such as HP India and Lenovo India to deliver innovative buyback programs612.

Financial Highlights

Fiscal Year	Revenue (₹ crore)	Profit (₹ crore)
2024–25	1,420.37	69.03
2023–24	1,143.80	52.31

The company has shown consistent growth in revenue and profitability, supporting investor interest in the IPO6.

Objectives of the IPO

The funds raised from the fresh issue will be allocated to:

• Repayment of debts

• Working capital requirements

• General corporate purposes12

Share Reservation

Category	Shares Offered	Share of Total
QIB	50%	9,713,818
NII (HNI)	15%	2,914,146
Retail	35%	6,799,673

Should You Subscribe?

• Strong Demand: With a 9.20x subscription and persistent high GMPs, the IPO is in high demand.

• Integrated Business Model: GNG covers the full value chain, which mitigates supply risks and improves customer retention.

• Growth Track Record: Financials show steady expansion in both revenue and net profit.

• Market Leader: Among the largest refurbishers of ICT devices in India and a top player globally12610412.

Risks: As with any public issue, investors should consider industry competition, margin sustainability, and external market conditions before investing.

Conclusion

GNG Electronics' IPO exemplifies the growing investor confidence in technology-driven and sustainable business models in India. With its robust growth, stellar subscription numbers, and enthusiastic grey market premium, the IPO is one of the most anticipated mainboard offerings of 2025. Investors with a medium-to-long-term outlook may consider subscribing, keeping in mind their risk appetite and the company's growth prospects.

Disclaimer: This blog is for informational purposes and not investment advice. Please consult with a financial advisor before making investment decisions.

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