GNG Electronics IPO To Open on July 23rd

Mumbai, 18 July 2025: GNG Electronics Limited is set to launch its ₹460.43 crore initial public offering (IPO) on 23 July 2025, with the issue closing on 25 July 2025. The IPO comprises a fresh issue of 1.69 crore equity shares worth ₹400 crore and an offer for sale (OFS) of 0.26 crore shares amounting to ₹60.44 crore. The shares will be listed on both the BSE and NSE, with a tentative listing date of 30 July 2025.

Price Band and Investment Details Offer Entry Options Across Investor Categories

The price band for the GNG Electronics IPO has been set between ₹225 and ₹237 per share. The lot size is 63 shares, making the minimum investment required for retail investors ₹14,931. For high net-worth individuals, the small-HNI (sNII) minimum application is 14 lots or 882 shares, amounting to ₹2,09,034, while large-HNI (bNII) investors can begin with 67 lots or 4,221 shares, which requires an investment of ₹10,00,377.

Important Dates to Track for GNG Electronics IPO

Investors interested in subscribing to the IPO must act between July 23 and July 25, with the cut-off time for UPI mandate confirmation set at 5:00 PM on 25 July 2025. The allotment of shares is expected to be finalised by 28 July, followed by refunds and credit of shares to demat accounts on 29 July. The shares are scheduled to be listed on 30 July 2025.

Reservation Pattern Designed to Attract Broad-Based Participation

The IPO has been structured to offer not more than 50% of the shares to Qualified Institutional Buyers (QIBs), not less than 15% to Non-Institutional Investors (NIIs), and not less than 35% to retail investors, ensuring access for all segments of the market.

Business Model Supports Expansion and Profitability Goals

Founded in 2006, GNG Electronics Ltd. operates in the refurbished ICT devices segment, with services including laptop and desktop refurbishment, e-waste management, and IT asset disposal. The company functions under the “Electronics Bazaar” brand, managing end-to-end processes—from sourcing to after-sale service-offering a value-driven proposition in both the Indian and international markets.

Its customer base spans 38 countries, and it has built a sales network of 4,154 touchpoints as of March 31, 2025. In India, GNG supports major retail clients like Vijay Sales, and partners with brands such as HP India and Lenovo to offer tailored buyback programs, driving new device sales.

Financial Growth and Global Presence Reflect Scalable Model

GNG Electronics has reported steady growth in both revenue and profitability. For the year ending March 31, 2025, the company recorded a 24% increase in revenue to ₹1,420.37 crore and a 32% increase in net profit to ₹69.03 crore compared to the previous year. Its assets grew to ₹719.46 crore, with net worth reaching ₹226.46 crore.

As of FY25, the company employed 1,194 personnel, indicating its expanding operations both in India and abroad. It also has a strong presence in the USA, Europe, Africa, and the UAE, reinforcing its position in the global refurbished device market.

Key Financial Metrics Indicate Operational Efficiency

GNG’s financial indicators as of March 31, 2025, point toward operational efficiency and strong returns. The company reported a Return on Equity (ROE) of 30.40%, Return on Capital Employed (ROCE) of 17.31%, and Debt-to-Equity ratio of 1.95, signalling manageable leverage. Its EBITDA margin stood at 8.94%, and PAT margin at 4.89%.

The market capitalisation is estimated at ₹2,702.07 crore, with a post-IPO price-to-earnings (P/E) ratio of 39.14, based on its FY25 earnings and post-issue shareholding.

Objective of the Issue Focuses on Debt Reduction and Corporate Needs

GNG Electronics intends to use the net proceeds from the IPO to strengthen its balance sheet and support business operations. The company plans to:

• Repay or prepay borrowings amounting to ₹320 crore, including those of its subsidiary Electronics Bazaar FZC.
• Allocate the remaining funds for general corporate purposes.

Promoters and Management Hold Strong Pre-Issue Stake

The promoters of GNG Electronics include Sharad Khandelwal, Vidhi Sharad Khandelwal, Amiable Electronics Private Limited, and Kay Kay Overseas Corporation. Their combined holding before the issue stands at 95.01%, which will reduce post-issue based on equity dilution, but is expected to remain significant.

With a strong financial track record, expanding global presence, and a clearly defined utilisation of funds, the GNG Electronics IPO offers investors an opportunity to participate in the growth of a company operating at the intersection of circular economy and digital transformation. The IPO opens on July 23, 2025, and closes on July 25, 2025, with allotment finalisation scheduled for July 28 and listing on July 30.

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