GNG Electronics Ltd., India’s top player in the refurbished laptops and desktops market under the Electronics Bazaar brand, has officially launched its Initial Public Offering (IPO) today, July 23, 2025. The IPO will remain open until July 25. The company aims to raise ₹460.4 crore, including a fresh issue of ₹400 crore and an offer-for-sale (OFS) of ₹60.4 crore by the promoters.
Priced between ₹225–₹237 per share, the IPO values the company at around ₹2,702 crore at the upper end. A significant portion of the proceeds—₹320 crore—will be used to repay debt, with the rest going toward working capital and general corporate purposes.
GNG Electronics IPO Strong Start: Anchor Investors and Subscription Momentum
Ahead of the IPO opening, GNG raised ₹138.1 crore on July 22 from a list of elite anchor investors, including Goldman Sachs, Motilal Oswal, Mirae Asset, and Edelweiss. These investors were allotted around 5.83 million shares at the upper price band of ₹237, showing strong institutional faith in the company.
On Day 1, subscription data reflects strong demand:
- Overall Subscription: 1.12×
- Retail Investors: ~1.27×
- Non-Institutional Investors (NII): ~2.20×
- Qualified Institutional Buyers (QIBs): 0.02×
Reports indicate the IPO was fully subscribed within the first hour, driven by robust NII interest.
GNG Electronics GMP Surge: Listing Premium Hype Builds
The grey market premium (GMP) for GNG Electronics has soared to ₹100–₹105, suggesting a possible listing price of around ₹342 per share—a whopping 44.3% gain from the upper band price of ₹237. Just two days ago, the GMP was hovering at ₹76, marking a sharp uptick in investor enthusiasm.
This optimism is largely fueled by the company’s:
- Strong financials
- Global footprint in 38 countries
- Position in the fast-growing refurbished tech space
Financials, Valuation & Brokerage Views
GNG’s performance and growth prospects have caught the attention of major brokerages. Firms like SBI Securities, Canara Bank Securities, Bajaj Broking, and Arihant Capital have all given the IPO a “Subscribe” rating, particularly for medium to long-term investors.
Here’s a snapshot of GNG’s financials:
- FY25 Revenue: ₹1,420 crore (up 24% YoY)
- Profit After Tax: ₹69 crore (up 32% YoY)
- Refurbished Devices Sold: ~590,787 units (from 248,135 in FY23)
- P/E Ratio: Estimated 33–39× FY25 earnings
GNG operates with an asset-light model and is focused on reducing debt and scaling up efficiently. Strategic partnerships with major OEMs like HP, Lenovo, and retailers like Vijay Sales strengthen its ecosystem.
Final Thoughts: A Promising Tech IPO with Global Vision
GNG Electronics’ IPO debut is shaping up to be a standout offering in 2025. With a high GMP, strong anchor interest, and solid subscription levels, it’s generating a wave of optimism in the primary markets.
Why investors are excited:
- Strong financial performance and revenue growth
- Global reach across India, UAE, Europe, US, and Africa
- Focus on debt reduction, improving financial health
- Positive analyst sentiment recommending “Subscribe”
However, as with any IPO, it’s important for investors to evaluate valuation risks, market conditions, and their own financial goals before making an investment.
F.A.Q.
– What are the IPO dates for GNG Electronics?
The GNG Electronics IPO is open from July 23 to July 25, 2025. Investors can apply during this period through their broker or trading platform.
– What is the price band and lot size for the GNG Electronics IPO?
The price band is ₹225 to ₹237 per share, and the minimum lot size for retail investors is typically one lot of 60 shares (check your broker for confirmation).
– What will GNG use the IPO proceeds for?
Out of the ₹460.4 crore IPO, ₹320 crore will be used to repay debt. The rest will go toward working capital requirements and general corporate purposes.
– What is the GMP (Grey Market Premium) for the GNG IPO today?
As of July 23, the GMP is in the range of ₹100–₹105, indicating a potential listing price of around ₹342, which is about 44% higher than the upper price band of ₹237.
– Should I apply for the GNG Electronics IPO?
Many leading brokerages have given a “Subscribe” rating, citing strong financials, high growth potential, and strong investor demand. However, individual investors should assess the valuation, risks, and personal financial goals before applying.
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