GNG Electronics IPO Subscribed 14.89 Times by Mid-Morning; Retail Bids Surpass 11 Crore Shares​

Mumbai, July 24, 2025 – GNG Electronics Limited’s ₹400 crore IPO continued to see aggressive investor interest on Day 2. The overall subscription stood at 14.89 times at 11:10 AM. The public issue saw a subscription of 14.31 times in the retail segment, 1.75 times by Qualified Institutional Buyers (QIB), and 33.55 times in the Non-Institutional Investors (NII) category.

Company Overview

GNG Electronics is India’s  largest certified refurbisher of laptops and desktops under the “Electronics Bazaar” brand. With a presence in 38 countries and five refurbishment facilities, it offers end-to-end services across sourcing, repair, and resale of IT devices.

Planned Funds Usage

• ₹320 crore earmarked for repayment, prepayment, or redemption of existing borrowings of the company and its subsidiary, Electronics Bazaar FZC
• Remaining ~₹80 crore allocated for working capital requirements and general corporate purposes

IPO Timeline & Structure

• Offer Opened: July 23, 2025
• Offer Closes: July 25, 2025
• Price Band: ₹225–₹237 per share (FV: ₹2)
• Lot Size (Retail): 63 shares (~₹14,900 minimum)
• Issue Size: ₹460.43 cr total—₹400 cr fresh issue + ₹60.43 cr Offer for Sale

Considerations for Retail Investors

• Strong Growth & Market Position: GNG is India’s largest laptop refurbisher with a fast-growing business and global presence in 38+ countries.
• Debt Reduction Plan: ₹320 crore of GNG Electronics IPO proceeds will go towards debt repayment—expected to improve profitability and cash flow.
• Reasonable Valuation vs. Peers: Though trading at ~39× P/E, it is supported by strong revenue and PAT growth.
• High NII/Retail Demand: The issue was oversubscribed within hours-driven by strong retail and NII interest, boosting listing confidence.

What to Expect

• QIB participation typically intensifies on Day 3, and already stands at 1.75x.
• With retail and HNI books strongly subscribed, the final 1.5 days will be watched for anchor conversions and late-stage institutional demand.

Stay tuned for end-of-day coverage as bidding progresses through Day 2.

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