GNG Electronics IPO Subscribed 150.21 Times; Retail and Institutional Demand Surges on Final Day

Mumbai, 25 July 2025: The public issue of GNG Electronics has concluded with an overall subscription of 150.21 times by the end of Day 3, recording high participation across investor categories. The IPO, which opened on 23 July 2025 and closed on 25 July 2025, attracted strong demand, especially from Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and retail investors.

Retail Subscription Jumps to 47.36 Times Amid Steady Bidding

Retail investors showed consistent interest throughout the bidding window. By the close of the IPO, the retail portion was subscribed 47.36 times, with over 32.20 crore shares bid for against the available 67.99 lakh shares. The minimum application size was ₹14,175 for one lot of 63 shares.

The retail segment maintained a stable pace from Day 1 to Day 3. On the first day, retail subscription stood at 9.31 times, which increased to 24.09 times on Day 2, and finally surged to 47.36 times by the final deadline. This growth in participation indicates a clear interest from individual investors who were actively monitoring the demand trend and responded accordingly.

QIB Category Leads with 266.21 Times Subscription on Final Day

The QIB category witnessed the most significant surge in bidding on the last day. Institutional investors bid for over 107.14 crore shares against a reserved quota of 40.24 lakh shares, pushing the subscription to 266.21 times.

Demand from QIBs was measured on Day 1 and Day 2, recording 1.68 times and 2.21 times respectively. The major bulk of bids came in on Day 3, marking a sharp increase and indicating a last-minute response from institutional players.

This category had no predefined limit on the number of allottees, allowing large volumes to be absorbed by domestic and foreign institutional investors alike.

NII Segment Subscribed 226.44 Times as HNIs Submit Large Bids

The Non-Institutional Investor category saw a subscription of 226.44 times, with over 69.04 crore shares bid for against 30.49 lakh shares reserved. This segment includes two distinct investor classes — those bidding more than ₹10 lakhs and those bidding below ₹10 lakhs.

The bNII sub-category (bids above ₹10 lakhs) recorded a subscription of 264.14 times, with demand for over 51.31 crore shares. Meanwhile, the sNII sub-category (bids below ₹10 lakhs) saw a subscription of 182.52 times, accounting for over 17.72 crore shares.

Activity in the NII segment accelerated significantly on the final day. From 18.86 times on Day 1 and 68.70 times on Day 2, the demand jumped to over 226 times by Day 3, showing rapid escalation in high-value bids.

Anchor Investors Infuse ₹138.13 Crore Ahead of Opening

Prior to the IPO opening, GNG Electronics raised ₹138.13 crore from anchor investors on 22 July 2025. A total of 58.28 lakh shares were allocated under this segment. Anchor participation often sets a precedent and builds momentum among other investor classes, particularly institutions.

IPO Overview: Price Band, Lot Size, and Listing Schedule

GNG Electronics IPO was a book-built issue of ₹460.43 crore, comprising a fresh issue of 1.68 crore shares worth ₹400 crore and an offer for sale of 25.50 lakh shares worth ₹60.44 crore. The price band was fixed at ₹237 per share. The minimum lot size for retail investors was 63 shares, and for bNII and sNII, the minimum investment was approximately ₹10 lakh and ₹2.09 lakh, respectively.

The IPO allotment is expected to be finalized on 28 July 2025, with shares to be credited to demat accounts by 29 July 2025. GNG Electronics is scheduled to list on BSE and NSE on 30 July 2025.

Application Volume and Total Bidding Amount Reflect High Participation

By the close of bidding, the IPO had received a total of 42,13,842 applications. Across all categories, over 208.39 crore shares were bid for against the available 1.38 crore shares (excluding anchor allotment). The cumulative bidding amount stood at ₹49,389.85 crore, based on the upper end of the price band.

This volume of demand from various segments signals widespread investor interest and positions the company for a potentially active listing next week.

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