- Price Band fixed at ₹225 to ₹237 per equity share of face value of ₹ 2 each
- Bid /Issue will close on Friday, July 25, 2025
- The Anchor Investor Bidding Date is one working day prior to bid/offer opening date, being Tuesday, July 22, 2025.
- Bids can be made for a minimum of 63 Equity Shares and in multiples of 63 Equity Shares thereafter.
NE BUSINESS BUREAU
AHMEDABAD, JULY 19
GNG Electronics, India’s largest refurbisher of laptops and desktops, on Saturday announced the launch of its initial public offering (IPO) with a price band of ₹225 to ₹237 per share. The IPO will open for subscription on Wednesday, July 23 and close on Friday, July 25. The anchor investor bid period shall be one working day before the issue opening date-Tuesday, July 22.
The minimum lot size for an application is 63 shares.
The ₹460.43 crore issue comprises a fresh issue of 16.9 million shares amounting to ₹400 crore and an offer for sale (OFS) of 2.6 million shares amounting to ₹60.44 crore.
The primary objective of this IPO is to reduce GNG Electronics’ debt burden by ₹320 crore, alongside utilising the funds for general corporate purposes. Operating under the brand “Electronics Bazaar,” the company offers a comprehensive range of services from sourcing, refurbishment, sales, to after-sales services, including warranties and flexible payment options.
The company has five refurbishing facilities, including one in Navi Mumbai, Maharashtra, India, one facility in Dallas, Texas, USA and three facilities in Sharjah, UAE.
“Refurbished laptops, desktops, tablets, servers and mobiles are priced at 30 percent of the new ones and come with three-year warranty. Our clientele include educational institutes, corporates etc. India contributes only 5 percent of our business,” said Sharad Khandelwal, Founder and Managing Director.
According to the red herring prospectus (RHP), up to 50 per cent of the issue will be reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs), and the remaining 35 per cent for retail investors.
In the financial year 2024-25 (FY25), GNG Electronics reported revenue from operations of ₹1,411.1 crore, up 24 per cent from ₹1,138.1 crore in the previous fiscal. It reported a PAT of ₹52.3 crore in FY24 compared to ₹32.4 crore in FY23.
In FY25, the company’s net profit stood at ₹68.8 crore, up 32 per cent from ₹52.1 crore in the previous financial year.
The shares are set to be listed on the BSE and NSE on July 30.
Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial are the lead managers for the issue, with Bigshare Services as the registrar.
