July 19, 2025
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GNG Electronics IPO GMP grey market premium, review, Subscription, allotment, listing estimate
GNG Electronics IPO is a Rs.460.43 crore book-built issue, comprising a fresh equity issue of 1.69 crore shares aggregating to Rs.400 crore and an offer for sale of 0.26 crore shares worth Rs.60.44 crore by existing shareholders. The IPO will open for subscription from July 23 to July 25, 2025, with the allotment expected on Monday, July 28, and tentative listing on Wednesday, July 30, 2025, on both BSE and NSE.
The price band has been set at Rs.225 to Rs.237 per share, and the lot size is 63 shares. Retail investors will need a minimum investment of Rs.14,175, while sNII and bNII categories require 14 lots (Rs.2,09,034) and 67 lots (Rs.10,00,377) respectively.
Motilal Oswal Investment Advisors Ltd is the book-running lead manager, and Bigshare Services Pvt Ltd is the registrar to the issue.
For full details, refer to the RHP of GNG Electronics IPO.
Table of Contents
- GMP
- Reviews
- Subscription
- Allotment
What is the latest news relating to GNG Electronics?
The IPO will enter the market on 23 July 2025. The IPO will close on 25 July and the listing is anticipated on 30 July 2025.
GNG Electronics Promoters
Sharad Khandelwal, Vidhi Sharad Khandelwal, Amiable Electronics Private Limited and Kay Kay Overseas Corporation are the company promoters
What are the Objects of GNG Electronics IPO?
The Company proposes to utilize the Net Proceeds towards funding the following objects:
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Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and the Material Subsidiary namely, Electronics Bazaar FZC Rs. 320 Cr.
- General corporate purposes
What is the business of GNG Electronics?
Incorporated in 2006, GNG Electronics Limited is engaged in the refurbishing of laptops, desktops, and ICT (Information & Communication Technology) devices, serving both the Indian and global markets. The company has established a strong footprint across India, the USA, Europe, Africa, and the UAE.
Operating under the brand “Electronics Bazaar”, GNG Electronics offers end-to-end solutions—from sourcing and refurbishing to sales and after-sales service—along with comprehensive warranty support.
The company also provides a wide range of value-added services, including:
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IT Asset Disposal (ITAD) and e-waste management
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Warranty and doorstep service
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On-site installation
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Flexible payment options
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Easy device upgrades
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Assured and customized buyback programs for refurbished devices
GNG Electronics has developed tailored buyback solutions for laptops and desktops, enabling large-format retail chains like Vijay Sales and OEM brand stores such as HP India and Lenovo India to run efficient and customer-centric exchange and upgrade programs.
As of September 30, 2024, the company’s refurbished ICT products were being sold across 35 countries, supported by a robust sales network of 3,265 touchpoints in India and internationally.
GNG Electronics IPO GMP grey market premium, review, Subscription, allotment, listing estimate
|
Indiqube Spaces IPO Details |
|
| IPO opens on | 23 July 2025 |
| IPO closes on | 25 July 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 19427,637 Shares / Rs 460.63 Crore |
| * Fresh Issue | 168,77,937 Shares / Rs 400 Crore |
| * Offer for Sale | 25,50,000 shares/ Rs.60.63 Crore |
| Face Value per share: | Rs. 2 |
| Price Band | Rs.225-237 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs. – per share |
| Retail Lot Size | 63 Shares |
| Listing will at | BSE, NSE |
|
Shares offered |
Shares | Rs. in Crore |
| QIB (50 %) | 9713800 | 230.32 |
| NII (15 %) | 2914137 | 69.09 |
| RII (35 %) | 6799700 | 161.22 |
| Employees | – | – |
| Total Shares | 194,27,637 | 460.63 |
| Retail portion will be oversubscribed by | ? Forms. | |
| How to apply in this IPO? | Amount Rs. |
|
| Min Retail Application | 63 Shares | 14931 |
| Max Retail Application | 819 Shares | 194103 |
| Small HNI (Min) application | 882 Shares | 209034 |
| Small HNI (Max) application | 4158 Shares | 985446 |
| Big HNI Application | 4221 Shares | 1000377 |
GNG Electronics IPO Timetable
| IPO opens on | 23 July 2025 |
| IPO Closes on | 25 July 2025 |
| IPO Allotment on | 28 April 2025 |
| Unblocking of ASBA | 29 April 2025 |
| Credit of Shares | 29 April 2025 |
| Listing on | I30April 2025 |
| Registered Office of the company | |
| GNG Electronics Ltd. Unit No. 415, Hubtown Solaris, N.S. Phadke Marg, Andheri (East), Mumbai, Maharashtra, 400069 |
|
| Who are the Lead Managers of the IPO? Motilal Oswal Investment Advisors Ltd IIFL Capital Services Ltd Jm Financial Ltd |
|
| Registrar to IPO | |
|
Bigshare Services Pvt ltd |
GNG Electronics IPO Financials
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 719.46 | 585.82 | 285.5 |
| Revenue | 1,420.37 | 1,143.80 | 662.79 |
| Profit After Tax | 69.03 | 52.31 | 32.43 |
| EBITDA | 126.14 | 84.9 | 50.04 |
| Net Worth | 226.46 | 163.14 | 111.6 |
| Reserves and Surplus | 176.61 | 132.68 | 81.13 |
| Total Borrowing | 446.92 | 322.33 | 152.02 |
| Amount in Rs. Crore | |||
GNG Electronics IPO
Key Performance Indicators
| KPI | Values |
| ROE | 30.40% |
| ROCE | 17.31% |
| Debt/Equity | 1.95 |
| RoNW | 30.40% |
| PAT Margin | 4.89% |
| EBITDA Margin | 8.94% |
| Price to Book Value | 10.17 |
| EPS | 7.11 |
| PE Ratio | 33.35 |
How GNG Electronics IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| GNG Electronics Limited | 30.4 | |
| Newjaisa Technologies Limited | 21.37 | -1.45 |
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GNG Electronics IPO Review
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GNG Electronics IPO review
The GNG Electronics IPO is a book-built issue of Rs.460.43 crore, comprising a fresh issue of Rs.400 crore and an offer for sale of Rs.60.44 crore.
The IPO opens on July 23, 2025, and closes on July 25, 2025.
The price band for the IPO is set between ₹225 to ₹237 per share.
Retail investors can apply for a minimum of 63 shares, requiring an investment of ₹14,175.
The shares will be listed on both BSE and NSE, with a tentative listing date of July 30, 2025.
GNG Electronics offers refurbishing services for laptops, desktops, and ICT devices, as well as IT asset disposal, e-waste management, warranty support, buyback programs, and more under the brand Electronics Bazaar. As of September 30, 2024, the company’s refurbished products are sold in 35 countries through 3,265 touchpoints.
