GNG Electronics IPO
GMP, Subscription, Price, Dates & Financial Details
Trading
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…
Open Date
Wed, 23 Jul 2025
Close Date
Fri, 25 Jul 2025
Price Band
₹ 225 – 237
Lot Size
63
Issue Size
₹ 460.43 Cr
Minimum Investment
₹ 14,931 (63 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
GNG Electronics IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹460.43 Crore, comprising a fresh issue of 1.69 Crore equity shares aggregating to ₹400.00 Crore and an offer for sale (OFS) of 25.50 Lakh equity shares aggregating to ₹60.44 Crore by the existing shareholders.
The GNG Electronics IPO remained open for subscription from July 23, 2025, to July 25, 2025. The basis of allotment was finalized on July 28, 2025, and the company's shares were listed on the NSE and BSE on July 30, 2025.
The company had fixed the price band at ₹225 to ₹237 per share, with a lot size of 63 shares. Retail investors were required to make a minimum investment of ₹14,931 (based on the upper price band) to apply for one lot.
Bigshare Services Pvt Ltd served as the registrar to the issue. IIFL Capital Services Limited, Motilal Oswal Investment Advisors Ltd, and JM Financial Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, GNG Electronics Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
GNG Electronics IPO Timeline (Tentative)
- IPO Open Date
- Wed, 23 Jul 25
- IPO Close Date
- Fri, 25 Jul 25
- Basis of Allotment
- Mon, 28 Jul 25
- Initiation of Refunds
- Tue, 29 Jul 25
- Credit of Shares to Demat
- Tue, 29 Jul 25
- Listing Date
- Wed, 30 Jul 25 — NSE & BSE
Open Date
23 July 2025
Close Date
25 July 2025
Basis Of Allotment
28 July 2025
Listing Date
30 July 2025
IPO Subscription
Check Live Subscription →The GNG Electronics IPO has received bids for 2,09,89,15,182 shares against 1,41,88,644 shares offered, resulting in an overall subscription of 147.93x. the NII category is subscribed 227.67x, Retail Investors 46.84x, and QIBs 266.21x. Within the NII category, BNII is subscribed 252.45x, while SNII is subscribed 178.12x.
QIB
266.21x
NII
227.67x
BNII
252.45x
SNII
178.12x
RII
46.84x
Total
147.93x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 71,14,722 shares, representing 50.14% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 40,24,755 shares (28.37%), while Non-Institutional Investors (NIIs) receive 30,49,167 shares (21.49%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Qualified Institutions | 4,024,755 | 28.37% |
| Non-Institutional | 3,049,167 | 21.49% |
| BNII | 2,032,778 | 14.33% |
| SNII | 1,016,389 | 7.16% |
| Retail Investors | 7,114,722 | 50.14% |
| Total | 14,188,644 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
GNG Electronics Limited KPI Information
| 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 |
| Pat Margin % | 4.89 | 4.6 | 4.92 |
Peers Comparison
| 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 |
About GNG Electronics Limited
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.
GNG Electronics IPO 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%
GNG Electronics IPO Objective
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.
GNG Electronics Limited Address / Contact Details
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
GNG Electronics IPO Lot Size
The GNG Electronics IPO has a lot size of 63 shares. Retail investors require a minimum investment of ₹14,931 by applying for 1 lot (63 shares). The maximum application allowed for the retail category is 13 lots (819 shares), requiring an investment of ₹1,94,103.
| 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 |
Issue Reservation
- QIB — 28.37%
- NII — 21.49%
- RII — 50.14%
Book Running Lead Managers
- IIFL Capital Services Limited
- Motilal Oswal Investment Advisors Ltd
- JM Financial Limited
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the GNG Electronics IPO?
GNG Electronics IPO is a Book-building IPO with a total issue size of ₹460.43 crore. The GNG Electronics IPO price band is ₹225 to 237 per share. The GNG Electronics IPO subscription opens on Wed, Jul 23, 2025, and closes on Fri, Jul 25, 2025. The GNG Electronics IPO will be listed on the BSE,NSE. Bigshare Services Pvt Ltd is the registrar for the GNG Electronics IPO.
When will the GNG Electronics IPO open for subscription?
The GNG Electronics IPO opens on Wed, Jul 23, 2025 and closes on Fri, Jul 25, 2025
What is GNG Electronics IPO Price Band?
GNG Electronics IPO Price Band is ₹225 to 237 per share.
What is GNG Electronics IPO Lot Size?
GNG Electronics IPO lot size is 63 shares, Retail investors need a minimum investment of ₹14931 based on the upper price band
What is the minimum investment for GNG Electronics IPO?
The minimum investment for GNG Electronics IPO is ₹14931, based on one lot of 63 shares at the upper price band of ₹237 per share.
How to apply for GNG Electronics IPO?
Investors can apply for the GNG Electronics IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Jul 25, 2025. The application amount remains blocked until the GNG Electronics IPO allotment is finalized.
What is GNG Electronics IPO Issue Size?
GNG Electronics IPO issue size is ₹460.43 crores.
What is the GNG Electronics IPO Allotment Date?
GNG Electronics IPO allotment date is Mon, Jul 28, 2025.
Who is the GNG Electronics IPO Registrar?
The registrar for GNG Electronics IPO is Bigshare Services Pvt Ltd. Investors can go to Bigshare Services Pvt Ltd website to check GNG Electronics IPO allotment status, refund processing, and other IPO-related information.
What is the GNG Electronics IPO GMP?
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 35.86% over the issue price.
Who is the GNG Electronics IPO Lead Manager?
The book-running lead managers (BRLMs) for the GNG Electronics IPO are IIFL Capital Services Limited, Motilal Oswal Investment Advisors Ltd, and JM Financial Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the GNG Electronics IPO Red Herring Prospectus (RHP).