GNG Electronics Raises Rs 138.13 Crore From Anchor Investors

New Delhi, July 23 – GNG Electronics, a  refurbisher of laptops and desktops operating under the Electronics Bazaar brand, raised ₹138.13 crore from anchor investors in its IPO. Its IPO opened today, 23rd July. It will close on 25th July.  Anchor investors included  Goldman Sachs, Motilal Oswal, Mirae Asset, and Edelweiss.

₹138 Crore Raised in Anchor Placement

According to a circular on the BSE website, the company allotted 58,28,290 equity shares at ₹237 each to 14 domestic and global funds, including:

• Goldman Sachs Fund
• Motilal Oswal Mutual Fund
• Buoyant Opportunities Strategy
• Edelweiss Mutual Fund
• Mirae Asset Mutual Fund

This pre-IPO anchor investment reflects strong institutional confidence in GNG Electronics’ growth prospects and business model.

IPO Details: Price Band, Size, and Timeline

GNG Electronics IPO will remain open from July 23 to July 25, with a price band set at ₹225 to ₹237 per share. At the upper end, the company’s market valuation stands at over ₹2,700 crore.

The IPO comprises:

• Fresh issue of shares worth ₹400 crore
• Offer for Sale (OFS) of 25.5 lakh shares by the promoters, amounting to ₹60.43 crore

The net proceeds from the fresh issue will be utilised towards:

• Repayment of debt
• Funding working capital needs
• General corporate purposes

The stock is scheduled to be listed on the bourses on July 30.

Strong Business Footprint Across Geographies

GNG Electronics operates under the “Electronics Bazaar” brand and is one of India’s top players in the refurbished ICT device market. It has a strong international footprint, with operations spanning India, the US, Europe, Africa, and the UAE.

The company covers the entire refurbishment lifecycle-from sourcing and restoration to sales, warranty, and after-sales service. Its refurbished products-ranging from laptops, desktops, tablets, servers, premium smartphones, to mobile workstations and accessories-are marketed as cost-effective alternatives:

• Laptops at one-third the price of new ones
• Other devices at 35-50% of new prices

Lead Managers and Listing Date

The IPO is being managed by Motilal Oswal Investment Advisors, IIFL Capital Services, and JM Financial as book-running lead managers. GNG Electronics is expected to make its market debut on July 30, 2025.

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