GNG Electronics IPO
Open MainLineCurrent GMP
₹85 (+35.86%)
Price Band
₹ 225 – 237
Lot Size
63
Issue Size
₹460.43 Cr
Minimum Investment
₹14931 (63 Shares)
Listing Date
30 July 2025
Subscription
147.93x
About the Company
Incorporated in 2006, GNG Electronics Limited is India’s largest refurbisher of laptops and desktops and among the global leaders in ICT device refurbishment, with a strong presence across India, USA, Europe, Africa, and the UAE (Source: 1Lattice Report).
The company operates under the “Electronics Bazaar” brand, offering end-to-end refurbishment solutions—from sourcing and refurbishing to sales, after-sales service, and warranty support.
Key Highlights
- Market Position:
- Largest refurbisher of laptops and desktops in India (by value).
- India’s largest Microsoft Authorised Refurbisher (by capability).
- Key IT asset disposal (ITAD) partner for India’s second-largest software company (by market cap as of 2024).
- Global Footprint:
- Products sold in 35 countries via 3,265 global touchpoints as of Sept 30, 2024.
- Operations supported by 5 refurbishing facilities in:
- India (Navi Mumbai)
- USA (Dallas, Texas)
- UAE (3 in Sharjah)
- Facility size: 58,127.82 sq. ft; employees: 1,143 personnel
- European office located in the Netherlands (Electronics Bazaar BV).
- Capabilities:
- Full-stack refurbishing including L1 to L3 repairs (e.g., motherboard repair).
- Specialisation in LCD repair, including repolarisation and LGP correction.
- Refurbished products: laptops, desktops, tablets, servers, smartphones, accessories, etc.
- Devices sold at 33%–65% lower prices than new equivalents while maintaining premium quality and aesthetics.
- Value-Added Services:
- ITAD & e-waste management
- Warranty services, on-site installation, doorstep support
- Flexible pay options, upgrades, assured buyback programs
- Tailored device buyback solutions for major retailers and OEMs like Vijay Sales, HP, and Lenovo.
- Partners & Clients:
- Certified refurbishment partner for HP and Lenovo (global market leaders).
- Supply partnerships with major companies including:
- HP India, Lenovo India, Vijay Sales
- US-based: Joy Systems, PlanITROI, HUBX
- Europe-based: PhoenixRM, ATX Computers
- Procurement partners include: Iron Mountain (USA), Apto Solutions, Green Box Group (Australia), Tata Capital, and Microsoft.
- Product Range:
- Offers refurbished, open-box, and new ICT devices.
- Product customization and support for varied budgets.
- SKU portfolio: 4,996 as of September 30, 2024.
GNG Electronics has built a vertically integrated, globally scalable business model that aligns with the growing demand for sustainable and affordable technology. Its strong partnerships, deep refurbishing expertise, and superior product quality position it as a market leader in the refurbished ICT space.
Promoters
- Sharad Khandelwal
- Vidhi Sharad Khandelwal
- Amiable Electronics Private Limited
- Kay Kay Overseas Corporation
Promoters Holding
Holding Pre Issue
95.01%
Holding Post Issue
78.71%
Objects of the Issue
The details of the proceeds from the Fresh Issue are:
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed the Company and the Material Subsidiary namely, Electronics Bazaar FZC.
- Funding the working capital requirements of the Company.
- General corporate purposes.
Address / Contact Info
GNG Electronics Limited
Unit No. 415, Hubtown Solaris,
N.S. Phadke Marg,
Andheri (East),
Mumbai, Maharashtra, 400069
Phone: +91 22 3123 658
Email: compliance@electronicsbazaar.com
Website: https://www.electronicsbazaar.com/
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Wednesday, 23 July 2025
IPO Close Date
Friday, 25 July 2025
Basis of Allotment
Monday, 28 July 2025
Initiation of Refunds
Tuesday, 29 July 2025
Credit of Shares to Demat
Tuesday, 29 July 2025
Listing Date
Wednesday, 30 July 2025 — NSE & BSE
Important Dates
Open Date
23 July 2025
Close Date
25 July 2025
Basis Of Allotment
28 July 2025
Listing Date
30 July 2025
Financial Performance (₹ in Crores)
| Particular | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 719.46 | 585.82 | 285.5 |
| Revenue | 1420.37 | 1143.8 | 662.79 |
| Profit After Tax | 69.03 | 52.31 | 32.43 |
| Net Worth | 226.46 | 163.14 | 111.6 |
| Reserve & Surplus | 176.61 | 132.68 | 81.13 |
| Total Borrowings | 446.92 | 322.33 | 152.02 |
EPS Pre
7.11%
EPS Post
6.05%
P/E Pre
33.35
P/E (Post Issue)
39.14x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE % | 30.4 | 31.96 | 28.97 |
| ROCE % | 17.31 | 16.72 | 17.91 |
| Debt / Equity | 1.68 | 1.59 | 0.85 |
| RoNW % | 30.4 | 31.96 | 28.97 |
| PbW | 0 | 0 | 0 |
| Pat Margin % | 4.89 | 4.6 | 4.92 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Qualified Institutions | 4024755 | 28.37 | 0 |
| Non-Institutional | 3049167 | 21.49 | 0 |
| BNII | 2032778 | 14.33 | 0 |
| SNII | 1016389 | 7.16 | 0 |
| Retail Investors | 7114722 | 50.14 | 0 |
| Total | 14188644 | 100 | 0 |
Subscription Status ( Fri, 25 Jul 25 01:49 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 4024755 | 1071435582 | 266.21x |
| Non-Institutional | 3049167 | 694211112 | 227.67x |
| BNII | 2032778 | 513169587 | 252.45x |
| SNII | 1016389 | 181041525 | 178.12x |
| Retail Investors | 7114722 | 333268488 | 46.84x |
| Total | 14188644 | 2098915182 | 147.93x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
| Company | Face Value | PE Ratio | EPS Basic | EPS Diluted | RoNW | Net Assets |
|---|---|---|---|---|---|---|
| GNG Electronics Limited | 2 | 0.00 | 7.09 | 7.09 | 30.40 | 23.31 |
| Newjaisa Technologies Limited | 5 | 21.37 | -0.32 | -0.32 | -1.45 | 22.09 |
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 63 | 14,931.00 |
| Retail (Max) | 13 | 819 | 194,103.00 |
| S-HNI (Min) | 14 | 882 | 209,034.00 |
| S-HNI (Max) | 66 | 4,158 | 985,446.00 |
| B-HNI (Min) | 67 | 4,221 | 1,000,377.00 |
Registrar
Bigshare Services Pvt Ltd
91-22-6263 8200
investor@bigshareonline.com
https://www.bigshareonline.com
Book Running Lead Managers
- IIFL Capital Services Limited
- Motilal Oswal Investment Advisors Pvt Ltd
- JM Financial Limited
RHP Document
DRHP Document
Anchor Investors
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
GNG Electronics IPO is a Book-building IPO worth ₹460.43 crores. The price band is ₹225 to 237 per share. The IPO opens on Wed, Jul 23, 2025 and closes on Fri, Jul 25, 2025. It will be listed on BSE and NSE. Bigshare Services Pvt Ltd is the registrar.
The GNG Electronics IPO opens on Wed, Jul 23, 2025 and closes on Fri, Jul 25, 2025
GNG Electronics IPO Price Band is ₹225 to 237.
GNG Electronics IPO lot size is 63, and the minimum amount required for application is ₹14931.
The minimum investment for GNG Electronics IPO is approximately ₹14931 based on the upper price band.
To apply for the GNG Electronics IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Fri, Jul 25, 2025. After submission, funds are blocked until the basis of allotment of GNG Electronics IPO is finalised.
GNG Electronics IPO issue size is ₹460.43 crores.
GNG Electronics IPO allotment date is Sat, Jun 27, 2026.
The registrar for GNG Electronics IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website for IPO allotment status, refund processing, and other queries related to GNG Electronics IPO through their official website or helpline.
The GNG Electronics IPO GMP (Grey Market Premium) is ₹85 as of Wed, Jul 30, 2025. Based on the upper price band of ₹237 per share, the estimated GNG Electronics IPO listing price is ₹322, indicating a potential listing gain of approximately 31% over the issue price.