GNG Electronics IPO Sees 27.55 Times Subscription by Day 2, Retail and HNI Categories Lead Surge

Mumbai, 24 July 2025: The initial public offering (IPO) of GNG Electronics has garnered a subscription of 27.55 times by the end of the second day of bidding, with retail and non-institutional investor (NII) segments contributing the highest demand. The IPO, which opened on 23 July 2025, will remain open for bidding until 25 July 2025.

Retail Subscription for GNG Electronics IPO Rises Sharply on Day 2

Retail investors bid aggressively for the GNG Electronics IPO, subscribing to their allotted quota 24.09 times. Out of the 67,99,673 shares reserved for this category, more than 16.38 crore shares were bid for, indicating significant interest from individual investors. The retail segment saw a marked increase from the first day, when the category was subscribed 9.31 times.

NII Category Records Highest Demand in GNG Electronics IPO

The non-institutional investor (NII) category witnessed a particularly sharp rise in demand by Day 2. It was subscribed 68.70 times, with bids exceeding 20.94 crore shares against an available allotment of 30,49,167 shares.

Within the NII segment, bNII investors (bids above ₹10 lakh) subscribed their quota 71.60 times, while sNII investors (bids below ₹10 lakh) subscribed 72.44 times. The NII segment’s rise from Day 1’s 18.86 times to Day 2’s 68.70 times underscores a notable increase in high-value investor participation.

Qualified Institutional Buyers (QIB) See Steady Growth

Qualified institutional buyers showed a gradual but consistent increase in interest, with the category subscribed 2.21 times by the end of Day 2. This is up from 1.68 times on Day 1. QIBs bid for 88,96,041 shares against the 40,24,755 shares offered to them. The anchor portion of the IPO, which was fully subscribed earlier, consisted of 58,28,290 shares amounting to ₹138.13 crore.

Overall Applications Cross 21 Lakh as Demand Builds

The IPO has received a total of 21,11,130 applications by the close of Day 2. The total number of shares bid for stood at 38.21 crore, against the 1.38 crore shares on offer (excluding anchor). The combined bid value of all categories stands at approximately ₹9,058.12 crore, as per the upper end of the price band.

Key IPO Details of GNG Electronics

GNG Electronics is aiming to raise ₹460.43 crore through this book-built IPO. The issue includes a fresh issue of 1.69 crore shares worth ₹400 crore and an offer for sale of 25.5 lakh shares valued at ₹60.44 crore.

The price band is set at ₹237 per share, with a minimum lot size of 63 shares. A retail investor needs to invest at least ₹14,931 for a single lot. For HNIs, the minimum investment varies: sNIIs can apply for 14 lots (₹2,09,034), while bNIIs start at 67 lots (₹10,00,377).

The IPO will close for bidding on 25 July 2025. The allotment is expected on 28 July 2025, with shares likely to be listed on BSE and NSE on 30 July 2025.

Registrar and Lead Manager Information

Motilal Oswal Investment Advisors Limited is the book-running lead manager, and Bigshare Services Pvt Ltd is acting as the registrar to the issue. The issue type is a book-building IPO, with shares having a face value of ₹2.

For investors seeking detailed disclosures, the GNG Electronics IPO Red Herring Prospectus (RHP) contains comprehensive financials, business model, and risk factors.

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